We are thrilled to announce that we have achieved a significant milestone - our first eCook sales in Rwanda, in partnership with Solektra and backed by the BRD/World Bank carbon credit RBF initiative.
Solektra is a leading solar energy solutions provider, dedicated to improving access to clean and affordable electricity across Africa through innovative and sustainable products. The BRD/World Bank carbon credit RBF initiative acts as a hybrid results-based financing and carbon credit program that encourages sustainable development by providing financial incentives for projects that deploy emission-reducing stoves.
This marks a crucial step in ATEC’s mission to expand access to modern cooking into Africa while also reducing carbon emissions. With the support of the World Bank and Solektra, we can now reach more communities, improve lives, and contribute to a greener future.
Recap: ENGIE and ATEC signed a landmark deal for up to 11.5 million tons of Gold Standard Digital MRV carbon credits using ATEC's patented IoT eCook devices. This marked the first major deal under Gold Standard's new metered methodology. The credits can be tracked in real-time by buyers through ATEC's carbon dashboard.
The use of digital verification through device data is a long-term solution for building trust in voluntary carbon markets.
ATEC recently wrapped up a successful debt crowdfunding campaign with Lend for Good of $136,000. While a relatively small total ticket, along with ATEC’s ongoing partnership with Kiva this shows a viable way for everyday investors to access high impact projects in the developing world. Through financing ATEC’s unique fintech paygo system, this campaign will support 3,000 people to transition to modern cooking while also supporting significant reductions in greenhouse gas emissions.
The ATEC team extends their gratitude to the growing movement of individuals and organisations who recognize the potential of impact enterprises and invest their capital to support them. Every contribution, no matter its size, brings us closer to realising a sustainable and greener future.