ATEC Global has signed a purchase agreement with Klik Foundation for 100% data-auditable Internationally Transferred Mitigation Outcomes (ITMOs). The mitigation activity will reduce greenhouse gas emissions by replacing conventional stoves with eCook stoves in urban and peri-urban charcoal households in Malawi. This groundbreaking project will be financially viable by the sale of ITMOs under Article 6.2 of the Paris Agreement. The project design is now undergoing Article 6.2 validation. Implementation will start following the authorization by the two partner countries, Switzerland and Malawi.
“The Malawi eCook project will set a new benchmark in terms of showing the full potential that carbon markets can achieve at scale with the right technology,” says ATEC Global Co-Founder & CEO, Ben Jeffreys. A major pathway to sustained decarbonisation of clean cooking is an accessible tier 5 solution that issues 100% data-auditable ITMOs under Article 6.”
“ATEC's progress in developing their innovative mitigation activity for Malawi is exciting. We look forward to supporting the activity financially once the eCook project has been authorized by the two partner countries and implementation has begun,” says Andrea Thurner, Director Carbon Procurement, KliK Foundation.
For more information on KliK Foundation and ATEC Global, please visit www.atecglobal.io and https://www.klik.ch/en/international/
ATEC Global is a global leader in IoT-enabled electric stoves which connects households to global carbon markets. Founded in Cambodia in 2016, ATEC developed the world’s first PAYG-enabled cookstove product in 2018, followed by the first IoT-enabled smart stove in 2020 and first carbon data-linked payments in 2022. ATEC currently distributes its products in 10 countries across Asia and Africa, with the goal of bringing the benefits of electric cooking and carbon markets to all women in the Global South. www.atecglobal.io
ATEC Global
Rezina D’Costa rdcosta@atecglobal.io
