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AFRICA CARBON ONE LIMITED (ACOL)
Zambia cookstove distribution project developed and operated by The African Stove Company (TASC)
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TECHNOLOGY AND BUSINESS MODEL
Cookstove distribution project backed by carbon credit off-take agreement with voluntary market buyer
COUNTRIES OF OPERATION
Zambia
E&S RISK CLASSIFICATION
C - Low Risk
SPARK+ INVESTMENT
$3.5 million project finance debt investment
USE OF PROCEEDS
Procurement of 90,000 Burn Ecoa stoves, distribution and monitoring activities, and the costs associated with carbon verification and issuance.
WEBSITE
Africa Carbon One Limited is a Mauritius-incorporated project SPV wholly owned by The African Stove Company (TASC), a specialist carbon project developer with a long track record. The project finances free distribution of improved wood-burning cookstoves in rural Katete, eastern Zambia, executed by TASC with its on-ground operator Kucita (formerly Iposinet). The stoves will generate Verified Emission Reductions (VERs) under TASC’s existing Gold Standard PoA and carbon credits are pre-sold via an ERPA.
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Spark+ financing is funding the procurement of 90,000 Ecoa stoves from Burn Manufacturing, in-country distribution, baseline and usage monitoring, and verification/issuance costs, scaling clean cooking access for households that could not otherwise afford a stove.
