New investment in the Biomassters project in Rwanda

New investment in the Biomassters project in Rwanda

News item
13 Oct 2022

We are pleased to announce that at the Clean Cooking Forum in Ghana we signed a pre-financed Carbon Credits offtake agreement for new investments in the Biomasters project in Rwanda.

Our investment
This means that we have agreed to invest in scaling up the existing project with new Mimi Moto cookstoves. In return, we receive the CO2 credits that CO2 reduction produces. We will sell the CO2 credits at a later stage to companies that want to invest in climate projects that benefit people who are 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 with pellets. The project replaces firewood and charcoal with pellets as cooking fuel, which is desperately needed. The use of firewood and charcoal leads to deforestation in Rwanda. Pellets are biomass products made from substances such as wood or other organic waste material, which are compressed into small cylinders used for cooking or other heating purposes. We use local raw materials for the pellets, stimulate local economic development and reduce dependence on imported energy solutions. The project aims to reduce CO2 emissions and give the people of Rwanda a healthier life.

More about the partnership