ATEC is a global leader in IoT-enabled electric stoves which leverage carbon markets. Founded in Cambodia in 2016, ATEC developed the world’s first cooking sector PAYG-enabled product in 2018, followed by the first IoT-enabled smart stove in 2020. ATEC currently distributes its products in 10 countries across Asia and Africa, with the goal of bringing the benefits of electric cooking and carbon markets to all women in the Global South.

 

ATEC’s IoT-enabled eCook stove is a global first that leverages global SIM technology to accurately track usage on each device and process this into 100% data-verified carbon credits through its proprietary digital Monitoring, Reporting, and Verification (dMRV) platform. ATEC’s data-auditable digital credits overcome the vast majority of over-crediting concerns currently holding back clean cooking carbon markets, currently achieve a 3-5x price premium over ‘analog’ credits, and seamlessly integrate with a variety of standards offering dMRV issuance.

 

Beyond carbon verification, ATEC’s patented eCook design unblocks other barriers to the rapid adoption of electric cooking. Mobile money and PAYG integrations remove the upfront asset cost of electric cooking, and users can receive direct payments related to their eCook usage from carbon or development partners. Each stove integrates with grid providers to offer cooking-specific electricity tariffs as well as dynamic fleet management as grids expand.

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The facility will finance ATEC to accelerate the rollout of its patented IoT-enabled eCook appliances to carbon and last-mile distribution partners across African markets.