Investment Overview
The strategic investment by NASENI in Powerstove marks a significant milestone in its ongoing efforts to combat global warming and foster a sustainable ecosystem through Nigerian companies dedicated to decarbonization.
Investment Details
NASENI will provide both capital for growth and technical assistance to Powerstove. This support will enable Powerstove to scale its production from 100,000 units to over one million units annually.
Impact on Production and Demand
This substantial increase in production capacity is expected to meet the growing demand for clean and efficient cookstoves. Additionally, it will significantly contribute to reducing carbon emissions in Nigeria.
Carbon Credit Achievement
Powerstove stands as the largest local carbon credit project for a private company in Nigeria, currently valued at 4.5 million carbon credits.
Benefits to NASENI
With this investment, NASENI is not only supporting an impact-driven enterprise but also positioning itself to benefit from carbon credit revenue. This reinforces NASENI’s commitment to sustainable development.
Commitment to Climate Action
This investment underscores NASENI’s strong commitment to proactively address climate change. It aims to build a resilient and sustainable ecosystem of innovative Nigerian companies with the potential to drive decarbonization efforts.
Future Prospects
NASENI’s management is looking forward to witnessing the positive impact of this partnership on Nigeria’s environmental and economic landscape.
Source: Techeconomy
Credit: Google