BURN Receives $15M from EIB to Expand Clean Cooking in East Africa
Peter Scott, BURN CEO
Kenyan clean cooking appliance maker BURN has secured a $15 million investment from the European Investment Bank (EIB) to expand the reach of its ECOA Electric Induction Cooker across East Africa. This financing will enable BURN to distribute the cookers using a Pay-As-You-Cook model, allowing families to make affordable payments over time.
Operating across nine countries, BURN manufactures the ECOA Cooker entirely in Kenya, aiming to reduce indoor air pollution, cut cooking times, and lower household energy costs. The company has already supplied over five million clean cookstoves in Africa, tackling health, environmental, and economic issues associated with traditional fuels like wood and charcoal.
CEO Peter Scott shared that this EIB partnership will assist BURN in transitioning over a million households to electric cooking solutions, which are powered predominantly by renewable energy sources in Kenya and Tanzania.
Source: Ifeoma Joy Okorie / TechPoint Africa