NAIROBI, Kenya, Feb 27 – Manufacturer of clean cooking stoves, Burn has opened a new factory in Kiambu County that will increase the firm’s production capacity.
The company specializes in the production of clean cooking stoves, cookers, and briquettes for local and international use.
It plans to expand into the Democratic Republic of the Congo (DRC), Zambia, Uganda, Tanzania, Nigeria, and Ghana.
Last year, the firm raised $4 million (Sh507.2 million) from international investors to boost its manufacturing capacity as well as expand into the above African markets.
The investment came from Spark+ via a long-term quasi-equity.
Spark+ Africa Fund is a $70 million (Sh8.9 billion) impact investment fund financing companies that offer next-generation, distributed cooking energy solutions to the mass market in sub-Saharan Africa.
“This transaction is the result of a long and fruitful relationship with BURN. We’re incredibly pleased how the BURN team has leveraged a $500,000 start-up grant from the Clean Cooking Alliance in 2013 to become a true leader in its space,” Spark+ Investment Director and Chairman of SMC Peter George said.
“This investment also illustrates the role Spark+ intends to play in scaling up growth-stage ventures, and we look forward to supporting BURN as it extends its reach across Africa.”
