Funding to Advance Production and Distribution of IoT-Enabled Electric Cookstoves
Clean cooking solutions company BURN Manufacturing has received a $15 million investment from the European Investment Bank (EIB). Announced at the recent World Bank/IMF Annual Meetings in Washington, this funding will bolster BURN's mission to supply its innovative IoT-enabled ECOA electric cooking appliances to more than 1 million households across East Africa.
Revolutionizing Access to Clean Cooking: The ECOA Induction Cooker
At the forefront of BURN's product line is the ECOA Induction Cooker (IDC), a device designed with affordability, efficiency, and sustainability in mind. The cooker features a Pay As You Cook (PAYC) payment model, which integrates with mobile money platforms and the ECOA Mobile App. This model enables users to make small, flexible payments daily or weekly, ultimately achieving full ownership of the appliance within a year. Each ECOA IDC comes packaged with a three-piece stainless steel cookware set manufactured in Kenya, emphasizing BURN's commitment to quality and local production.
Using IoT technology, the ECOA IDC provides real-time monitoring of energy consumption, generating high-integrity carbon credits that support EIB’s goals for climate action, gender equality, and economic development. Every unit of the ECOA IDC reduces approximately 2.5 tonnes of carbon emissions per year, making it a significant contributor to environmental sustainability in the region.
Bridging the Energy Gap in Low-Income Households
Peter Scott, Founder and CEO of BURN, highlighted the transformative potential of the PAYC model in improving access to electric cooking solutions: “BURN has already brought our unique PAYC electric cooking solution to thousands of households in Kenya and Tanzania that were previously reliant on traditional charcoal stoves. This investment by EIB will help us transition over a million low-income households to cooking with electricity, leveraging grids powered predominantly by renewable energy (80-95%) in the region.”
Delivering Economic and Environmental Benefits
BURN’s clean cookstoves have proven to be economically advantageous for users, offering annual fuel savings of 39% and generating savings of approximately $119 per household each year. Environmentally, each cookstove is estimated to cut 3.5 tonnes of CO2 emissions annually, significantly lowering carbon output and aligning with broader climate action goals.
Expanding Impact Across Africa
Since its inception, BURN has made substantial strides in promoting clean cooking solutions across Africa. To date, the company has distributed over 5 million clean cookstoves, reaching 25 million individuals and preventing the emission of 26 million tonnes of CO2 into the atmosphere. Through the support of partners like EIB, BURN is not only scaling its operations but also driving a substantial shift toward clean and sustainable cooking solutions across East Africa.
