BIX Capital and Envirofit
This consortium will deploy ~140k clean cookstoves in 5 countries in Sub-Sahara Africa (Kenya, Nigeria, Ghana, Cote d’Ivoire and Liberia). BIX Capital investment is collateralized by the guaranteed offtake for carbon credits which Envirofit will realize and CERPD will convert into a new and innovative mechanism for the Korean ETS (Emissions Trading Scheme). You can click here for more information on this newly established carbon trading scheme. CERPD has signed a carbon offtake agreement (ERPA) with a large power plant in Korea, which will offset up to 5% of its need for emissions reductions with internationally generated carbon credits. Envirofit stoves are clean and efficient, and belong to those designed with the “Voice of Customer” in mind. The deal was celebrated at the Innovate4Climate conference in Singapore in June.