Powerstove selected as USADF inaugural ARIE grant awardee
Frankfurt (Germany) and Abuja (Nigeria), November 2021. GreenTec Capital is pleased to report that Powerstove was selected as one of the inaugural recipients of a grant for the Africa Resilience Initiative for Entrepreneurs (ARIE). Powerstove CEO Okey Esse joined 24 other grantees in being recognised by the program intended to provide funding and technical assistance to help innovative African ventures to reinvest in their communities.
Powerstove was selected for their impactful business model centered on its innovative IoT enabled cookstove. The company's signature product uses clean-burning biomass pellets to produce efficient heat for cooking and generate surplus energy to power home appliances. The pellets provide a low-cost alternative to carbon-emitting fuels. The stove's IoT components are used to calculate carbon offsets to help quantify the company's impact.
The ARIE program will support 300 high-performing African entrepreneurs over five years with technical assistance and up to US$50,000 each in community re-investment grants to spur Africa's economic recovery amidst COVID-19. The inaugural ARIE cohort represents 6 African countries including Ghana, Kenya, Nigeria, Rwanda, Senegal, and Uganda. Nigeria was particularly well represented, with 8 awardees including Powerstove. The ARIE cohort was comprised of an impressive range of businesses and sectors including health, agribusiness, energy and renewables, manufacturing, and essential services.
GreenTec is very proud to see Powerstove selected for the USADF's ARIE grants and joining such a dynamic, competitive, and impactful cohort of businesses. The company will use the funding and leverage the technical assistance to scale their operations to impact more Africans with their energy-generating clean-burning cookstove.
Boreal Light begins project to provide 100% of Zanzibar's water with renewable energy
Berlin (Germany) and Stown Town (Zanzibar), February 2022. GreenTec Capital is very proud to report that Boreal Light has begun work on their most ambitious project to date, providing 100% of Zanzibar's water powered by renewable energy. On February 12th, the company broke ground on a water desalination plant at the Mnazi Moja Hospital in…
PowerStove Wins US $100,000 in AllOn/USADF Off-Grid Energy Challenge
Frankfurt (Germany) and Abuja (Nigeria), January, 2022. GreenTec is very pleased to share that PowerStove, its Nigeria-based cleantech portfolio company, is among 13 lucky African start-ups to win US $100,000 in an off-grid, energy challenge. The annual challenge was hosted and founded by the United States African Development Foundation (USADF) in partnership with All On. …
Boreal Light GmbH opens solar water desalination unit in Nungwi, Zanzibar
Frankfurt (Germany) & Nungwi (Zanzibar) January, 2022. GreenTec Capital is very pleased to share that its portfolio company, Boreal Light GmbH, officially opened a solar, water desalination system in Nungwi, Zanzibar, Tanzania. Nungwi is a large village located in the far north of the island with a population of approximately 5,500. Dr. Mngereza Miraji, Principal…
Startups and Upscaling