INVESTMENT CRITERIA

From microfinance institutions in rural Benin, to stove manufacturing companies in Zambia, to vertically-integrated fuel utilities in Kenya, we offer a range of financing solutions to companies throughout the supply chains of numerous clean and modern cooking fuels and appliances.

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The common thread within our portfolio is that companies play a role in scaling up the use of alternatives to dirty and unsustainable cooking practices in Africa.

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We invite companies that meet the following criteria to contact us, including those that are:

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• Engaging in cooking solutions directly e.g. as a product designer, manufacturer, distributor, retailer, consumer finance provider, technology provider, etc.

• Engaging with potential consumers of cooking solutions e.g. as an off-grid solar utility, FMCG distributor or retailer, microfinance institution, mini-grid operator, etc.

• Operating in one or more countries in Sub-Saharan Africa.

• Post-revenue with demonstrated proof-of-concept.

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Companies in which we may invest include:

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• Industrial-scale manufacturers of stoves and other appliances (e.g. cylinders, meters, etc.) related to ethanol, LPG, or biomass cooking fuels, as well as electric cooking appliances.

• Integrated utility companies: pay-as-you-go LPG, tech-enabled ethanol distribution, gasification stoves with pellet fuel, etc.

• Companies that commercialize pre-fabricated biogas solutions.

• Producers of biomass fuels such as pellets, briquettes, and ethanol.

• Financing and distribution intermediaries such as LPG distributors, multi-product last-mile distributors, off-grid solar players and other connected asset finance companies, mini-grid operators, and microfinance institutions.

• Off-balance sheet carbon project finance structures established by various actors throughout the value chain, from stove manufacturers, to specialized carbon project developers, to product distributors with established routes to market.