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BURN, a global leader in clean cooking solutions, recently announced that it has secured a $15 million investment from the European Investment Bank (EIB). This funding will be used to expand the production and distribution of BURN’s innovative electric cooking appliances across East Africa.
The investment will primarily support the deployment of the ECOA Induction Cooker, a device equipped with Pay-As-You-Cook (PAYC) technology. This technology allows consumers to make small, regular payments through mobile money, making it more accessible for low-income households to own a clean and efficient cooking solution.
The ECOA Induction Cooker is designed to be environmentally friendly and energy-efficient. It features integrated IoT technology that enables real-time monitoring of energy usage, contributing to the generation of carbon credits. By transitioning households from traditional, polluting cooking methods to clean electric cooking, BURN aims to reduce carbon emissions and improve air quality.
A recent study conducted by the University of Pennsylvania and the University of Chicago found that BURN’s cookstoves can significantly reduce fuel consumption, lower household expenses, and reduce carbon emissions.
With this latest investment, BURN is poised to accelerate its mission of providing clean, affordable, and efficient cooking solutions to millions of East African households.
