PowerStove Profiled in private wealth Magazine 

Powerstove's factory

Abuja (Nigeria) & Frankfurt (Germany), January, 2022. GreenTec Capital is pleased to share that its portfolio company, PowerStove, was featured in private wealth magazine in the December 7th, 2021 issue.  Private wealth is a Munich headquartered magazine published for wealthy private individuals and entrepreneurs. The Powerstove profile was featured in the December issue’s ‘Mission Innovation’ section, which featured our own CFO Thomas Festerling discussing the potential for contributing to climate impacts by investing in African companies in the section’s introduction.

The Powerstove system with accessories

The article titled ‘Ein cooler Kocher’ (A cool stove) by Hanns-J. Neubert profiles Powerstove and its founder Okey Esse and relates the origins of the company’s signature product from experiences in Okey’s youth and university studies. The authors ably capture the individual and societal problems the company is addressing, namely the high-costs of carbon and pollutant emitting fuel sources in Africa and their related adverse health effects and simultaneously the  lack of electricity access for many rurally living Africans. The article also mentions GreenTec’s investment in PowerStove which ultimately enabled the company to set up a second manufacturing facility in Abuja, Nigeria that has increased total production capacity to 25,000 stoves per month.  Finally, the article details Okey’s ambitions for the company that he is thinking even  bigger and wants to see PowerStove to become a truly pan-African company. To which end he shared the company’s plans to set up an assembly plant in Zimbabwe to better to target large markets in Sub-Saharan and Southern Africa. Read the full article in German with the link below.



Other Posts

New African Magazine Selects Tomi Davies as Among 100 Most Influential Africans

London (England), Frankfurt (Germany) January, 2022. GreenTec Capital is very pleased to share that Mr. Tomi Davies (TD), our Chief Investment Officer, was selected to be among those honoured as “The 100 Most Influential Africans of 2021” by New African magazine.  The annual award showcases Africa’s best and brightest by recognising, honouring, and celebrating the…

read more

GreenTec Captial featured in Handelsblatt article on record level investment in Africa.

Frankfurt (Germany), December 2021. GreenTec Capital CFO Thomas Festerling was quoted in an article in the the Finance Section of the weekend edition of Handelsblatt for December 3rd and 4th, 2021. The article (in German) titled ‘Record Investments in Africa’ covers the increased investment activity, particularly from the perspective of KfW and institutional and impact…

read more

Amitruck CEO Tells his Journey to Leading a Successful, Kenyan Logistics Firm

Frankfurt, Germany & Nairobi, Kenya, August 2021.  GreenTec Capital is pleased to share that Mark Mwangi, CEO and Co-Founder of Amitruck, a GreenTec portfolio company working in logistics-tech, was interviewed on the Fiftyfaces Focus podcast, The Last Frontier: Diverse Founders and VCs. Podcast host, Ms. Aoifinn Devitt, walked Mark through his journey from a truck…

read more