Nairobi-based startup BURN Manufacturing secured a $5 million unsecured loan from EDFI Management Company on Friday, May 16, to expand its sustainable cookstove production and distribution in Africa.
This funding, delivered through the European Union’s Electrification Financing Initiative (ElectriFI), marks a bold step in combating the health and environmental damage caused by traditional cooking fuels like charcoal and firewood, which nearly 950 million Africans still rely on.
Carbon finance powers BURN’s clean cooking revolution
BURN’s innovative business model taps into the carbon credit market by replacing polluting stoves with cleaner biomass and electric alternatives. Each stove sold reduces greenhouse gas emissions, generating carbon credits that BURN can monetize.
Founder and CEO Peter Scott emphasized, “The carbon finance component is essential. We’re not just delivering stoves – we’re creating a climate impact that can be measured, verified, and monetized”. This strategy promotes economic growth and climate action by raising $1 billion in carbon finance for continental clean cooking technologies.
The new financing complements a $12 million investment from Vancouver-based Key Carbon, supporting BURN’s expansion into the Democratic Republic of Congo (DRC), Nigeria, Mozambique, and Tanzania. The company’s clean stoves cut fuel use and emissions and reduce respiratory illnesses caused by indoor air pollution, especially among women and children.
Expanding access to clean cooking in Africa’s largest markets
Access to clean cooking remains alarmingly low in many African countries. For instance, only 3.7 per cent of the DRC’s population had access to clean cooking technologies in 2020, with rural areas faring even worse at 0.5 per cent. BURN’s entry into such markets addresses a vast unmet need, offering health benefits and easing pressure on forests devastated by charcoal production.
EDFI’s loan to BURN reflects a growing trend in impact investing, where catalytic capital supports early-stage ventures tackling entrenched development challenges. ElectriFI, launched in 2018 with €250 million in committed funds, aims to unlock private investment for sustainable energy in emerging markets.
BURN’s model exemplifies how local manufacturing and carbon finance can drive measurable climate and social benefits. With this latest funding, BURN is poised to reach millions more households, transform cooking practices across Africa, and reduce harmful emissions on a large scale.
About BURN
Kenyan renewable energy firm BURN Manufacturing is developing energy-efficient burners that are changing African cooking. Founded in 2010 by Peter Scott, BURN is the only vertically integrated modern cookstove manufacturer in sub-Saharan Africa.
BURN produces over 400,000 stoves every month and employs over 2,500 people, half of whom are women, at its solar-powered Nairobi centre.
Their flagship products include the Jikokoa, a charcoal stove that cuts fuel use by 56% and indoor air pollution by 65%, and the ECOA Wood Stove, which is the world’s most fuel-efficient natural-draft wood stove. BURN has also introduced the ECOA Electric Induction Stove for urban households, supported by a $15 million investment from the European Investment Bank.
To date, BURN has sold over 4.5 million stoves, saving families money, improving health, and preventing more than 20 million tons of CO₂ emissions. The company also pioneers in carbon financing, launching Africa’s first carbon credit futures based on avoided emissions. BURN’s new plant in Nigeria aims to empower millions with clean cooking, create sustainable jobs, and address environmental issues.