The U.S. African Development Foundation (USADF) has awarded the first prize of the African Entrepreneur Resilience Initiative (ARIE) to 24 Nigerian labels and the first winner is the Powerstove connected kitchen stove and energy generator from the Peachwater Technology Solutions Company.
The initiative brought together various structures operating in the fields of health, agribusiness and renewable energy. The ARIE program will support 300 African entrepreneurs over five years by providing each of them with technical assistance and a $50,000 grant that will contribute to the community reinvestment of these innovative companies.
Powerstove was selected for the business model of its clean-burning stove that generates sustainable energy. The company’s flagship product uses up to 70% less fuel, and burns biomass materials, including charcoal and wood pellets made from sawdust, or agricultural waste. A low-cost alternative to carbon dioxide emitting fuels, says CEO Okey Esse.
Read also-NIGERIA: GreenTec Capital finances Powerstove’s eco-friendly cooking solution
For the record, USADF is an independent organization that provides direct development assistance to vulnerable populations on the continent to boost their ability to join the global economy. Its ARIE program is available in 22 African countries including Mali, Cape Verde, Rwanda and Zambia.
Benoit-Ivan Wansi