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ALTECH
Leading energy access solution provider in DRC
TECHNOLOGY AND BUSINESS MODEL
Provider of energy access solutions including off-grid solar systems and cookstoves
COUNTRIES OF OPERATION
DRC
E&S RISK CLASSIFICATION
B - Medium Risk
SPARK+ INVESTMENT
$3 million senior secured loan
USE OF PROCEEDS
Financing to develop in-country assembly facilities to produce fuel-efficient cookstoves in conjunction with a leading Chinese stove design company.
WEBSITE
Alternative Energy Technologies Group SARL (“Altech”) is a leading last-mile distributor of solar and clean-cooking solutions in the DRC, selling on cash and PAYG terms through a national network that now spans 150+ shops across 22 of 26 provinces, supported by 144 staff and 2,200+ sales agents. Since 2017 the company has delivered roughly 500,000 clean-energy and e-mobility products, including 25,000+ fuel-efficient cookstoves, with collections largely via mobile money. Altech is majority Congolese-owned and was recognized among Africa’s fastest-growing companies.
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Spark+ financing will fund the establishment of six cookstove assembly lines and working capital for parts procurement, including indicative orders totaling about 130,000 charcoal stoves and 12,000 induction stoves sourced from Zhejiang Huiwenmei Stove Co., Ltd (d/b/a “SSM”), a leading Chinese designer and manufacturer of improved cookstoves and ATEC, another Spark+ portfolio company, respectively. The facility is designed to enhance Altech’s distribution scale with high-volume, in-country assembly and significantly expand affordable clean cooking access.
