- ATEC, a global leader in IoT-enabled electric stoves, raises
- SEEAA is an impact fund dedicated to investing in start-ups that work towards increasing quality of life and boosting economic development in
SEEAA is a
ATEC's proprietary stove produces data-verifiable and auditable carbon credits, which resolves the majority of the current over-crediting issues currently holding back the voluntary and compliance cookstove carbon markets.
"ATEC will expand its partnerships with last-mile distributors and carbon buyers across
Since 2019, ATEC has been leading the sector in technology for decarbonizing cooking and was recognised by
"Given greater rates of electrification and improving grid/mini-grid reliability in many African countries, electricity is a clean, modern cooking option for a growing number of consumers," says Spark+ Investment Directors
With this Series A, ATEC will also continue its core investment in R&D - in particular the latest developments in IoT & Web3.0 and bringing these benefits to households in the Global South.
Within the next decade, ATEC plans to generate 10 Gigawatt Hours of decarbonized cooking per day in households across the Global South. This will reduce carbon emissions of up to 10 million tons per year - the equivalent of driving 2.4million petrol cars for one year. In addition to the positive climate impact, the removal of smoke from cooking with wood will have significant health outcomes on women and children.
Related resources:
- Impact Investing
- Schneider Electric Energy Access Asia
About ATEC
ATEC is a global leader in IoT-enabled electric stoves which connects households to global carbon markets. Founded in
www.atecglobal.io
About
Schneider's purpose is to create Impact by empowering all to make the most of our energy and resources, bridging progress and sustainability for all. At Schneider, we call this Life Is On.
Our mission is to be the trusted partner in Sustainability and Efficiency.
We are a global industrial technology leader bringing world-leading expertise in electrification, automation and digitization to smart industries, resilient infrastructure, future-proof data centers, intelligent buildings, and intuitive homes. Anchored by our deep domain expertise, we provide integrated end-to-end lifecycle AI enabled Industrial IoT solutions with connected products, automation, software and services, delivering digital twins to enable profitable growth for our customers.
We are a people company with an ecosystem of 150,000 colleagues and more than a million partners operating in over 100 countries to ensure proximity to our customers and stakeholders. We embrace diversity and inclusion in everything we do, guided by our meaningful purpose of a sustainable future for all.
www.se.com
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