Frankfurt (Germany) and Abuja (Nigeria), September 2020. GreenTec is very happy to announce out investment in Nigeria-based Powerstove Energy. Powerstove has developed an innovative smokeless stove and fuel system to address problems of high fuel costs and greenhouse gas emission. The solution combines sustainable resource use with tech-driven efficiency innovation into a versatile and affordable to solution.
Powerstove converts non-recyclable paper, wood and agricultural by products of various crops into biomass pellets, which are then used to fuel the affordable, fuel efficient, and smokeless cook-stove. The innovative stove is able to produce 50 watts of continuous power, providing enough energy to charge phones, lights, cameras, and more. Surplus electricity is stored in an attached Lithium ion battery allowing users can charge additional devices via USB in real-time whenever they need it; even when the fire is off. The stove is equipped with a stainless steel burn chamber that burns biomass such as wood pellets, charcoal, sticks, or twigs and can reach 1000 degrees in less than 3 minutes, which allows the stove to cook foods 5x faster than any traditional stove. Finally, the stoves are equipped with an IoT System with internal pre-programmed and programmable computer chips that controls the fan, electricity supply, and also data transfers over 2G/3G network by using input sensors and output components to control all these functions. Powerstove is currently the world’s first and only clean cookstove to develop an on-board IoT System.
Xavier Chapel, Senior Company Builder for GreenTec Capital Partners said “Powerstove has developed a novel and scalable solution to addressing not just fuel costs and emissions, but more broadly to address issues of hunger and hygiene. Okey and his team have a well-developed product that is an excellent fit for its niche and they are the team to execute on it. We look forward to helping this impactful business grow and bring low-cost and high-efficiency heating to Nigerian and expanding energy access in Africa.”