BURN

ElectriFI, managed by EDFI MC, invested USD 5 Million in BURN, Africa’s leading clean cookstove manufacturer, distributor, and carbon project developer.

Project overview

Burn manufactures and distributes Improved Cooking Stoves (ICSs) in Sub-Saharan Africa, offering eco-friendly cooking solutions that reduce emissions, deforestation, and costs. Burn’s ICSs fall within two core product categories – Charcoal and Wood, with the company seeking to further roll out induction cookers following a successful 4000-stove pilot.

Funding objective

USD-denominated unsecured debt to scale Burn’s B2C business, increase its distribution exponentially, target previously underserved populations, launch new induction cookstoves and leverage on and off-balance sheet financing.

Investment rationale

ElectriFI is supportive of Burn for the following reasons:

• Strong financial additionality by allowing the company to roll out induction stoves made affordable thanks to the PAY-As-You-Cook model.
• High impact project providing many households with ICSs, reducing exposition to toxic fumes and increasing their purchasing power.
• High impact one-stop-shop blue-collar project which is an end-to-end manufacturer, distributor, and Carbon Credit verifier.

More info:

• Press release
• Disclosure
• BURN stoves