USE OF PROCEEDS

Manufacturing of 120,000 stoves (in total across Phase 1+2), setup of a light assembly facility in Ghana, and operating costs related to carbon credit issuance.

WEBSITE

https://envirofit.org/

​Envirofit Carbon One Holdings is a Mauritius-incorporated special-purpose vehicle wholly owned by Envirofit International Inc., a company which has commercialized customer-focused cooking solutions using firewood, charcoal, and LPG. Having developed over 10 in-market factories and hundreds of routes to market, Envirofit has enabled more than 45 million tons of GHG reductions and over USD 10 billion in socio-economic co-benefits impacting more than 5 million people since 2003.

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The SPV was established to execute an Article 6-based clean cooking carbon credit project, finance local assembly through Envirofit Ghana, distribute high-efficiency charcoal and wood stoves, and run the monitoring needed for carbon issuance. Distribution will leverage the project partner's rural network, with consumer credit supported by Advans Ghana for customers who require installments. Carbon credits will be converted into Internationally Transferred Mitigation Outcomes (ITMOs) which are pre-sold under a Mitigation Outcomes Purchase Agreement (MOPA) with Switzerland’s KliK Foundation via ACT Commodities.

This multi-phase project will involve the manufacture and distribution of 180,000 improved cookstoves, driving the creation of approximately 300 new jobs across the entire value chain. The stoves will improve the lives of an estimated 750,000 Ghanaian citizens by reducing smoke and toxic emissions in individual households by as much as 80% and reducing cooking fuel costs by as much as 60%.

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Building on the program’s first phase in which Envirofit successfully deployed 60,000 stoves in 2024 and early 2025, in mid-2025 Spark+ approved an additional USD 2.85 million facility to finance the second phase, including the distribution of an additional 60,000 stoves.