Schneider Electric Energy Access Asia (SEEAA), an impact fund managed by
Other institutional investors in the round include DRW, Save the
ATEC's proprietary stove produces data-verifiable and auditable carbon credits, which resolves the majority of the current over-crediting issues currently holding back the voluntary and compliance cookstove carbon markets.
"ATEC will expand its partnerships with last-mile distributors and carbon buyers across
Since 2019, ATEC has been leading the sector in technology for decarbonizing cooking and was recognised by
"Given greater rates of electrification and improving grid/mini-grid reliability in many African countries, electricity is a clean, modern cooking option for a growing number of consumers," says Spark+ Investment Directors
With this Series A, ATEC will also continue its core investment in R&D - in particular, the latest developments in IoT and Web 3.0 and bringing these benefits to households in the Global South. Within the next decade, ATEC plans to generate 10 Gigawatt Hours of decarbonized cooking per day in households across the Global South. This will reduce carbon emissions of up to 10 million tons per year - the equivalent of driving 2.4 million petrol cars for one year. In addition to the positive climate impact, the removal of smoke from cooking with wood will have significant health outcomes for women and children.
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