We are happy to announce that, at the Clean Cooking Forum in Ghana, we signed a - pre-financed carbon credits offtake agreement - for new investment in Biomassters project in Rwanda.
Our investment
The agreement means we agreed to invest in scaling the existing project with new Mimi moto stoves. In return, we will receive the carbon credits that CO2-reduction will provide. The carbon credits we will sell in a later stadium to companies willing to invest in climate projects that benefit people most vulnerable to the effects of climate change.
About the project
FairClimateFund is part of the partnership; Partners in Pellets. Together we develop a clean cooking project using pellets. The project replaces firewood and charcoal with pellets as cooking fuel, which is very necessary. Using firewood and charcoal leads to deforestation in Rwanda. Pellets are biomass products made of substances like wood or other organic waste materials, which are compressed into small cylinders used for cooking or other heating purposes. We locally source raw materials for pellet products, stimulating local economic development and reducing dependencies on imported energy solutions. The project aims to reduce carbon emissions and give people in Rwanda a healthier life.
