The funding comes through a carbon finance loan from the Mirova Gigaton Fund.

The loan will help KOKO grow its clean energy services in Kenya and Rwanda, helping more families access safe and sustainable cooking options.

In sub-Saharan Africa, over 850 million people still rely on firewood and charcoal for cooking.

These traditional fuels release harmful pollutants that contribute to climate change and cause around 3.7 million early deaths each year due to indoor air pollution.

KOKO is playing a leading role in this transition by providing bioethanol cooking fuel to more than 1.3 million homes in Kenya and Rwanda.

The fuel is delivered through KOKO’s network of smart fuel dispensers, known as KOKO Fuel ATMs, which are installed in local shops.

This clean fuel system also generates carbon credits, which help subsidize energy costs for low-income households, making clean fuel more affordable without relying on government support.

John Kimotho, Investment Director at Mirova Kenya, said the partnership supports Mirova’s mission to invest in solutions that address climate challenges in developing countries:

“This investment will help reduce harmful emissions and deforestation by cutting the use of charcoal,” he said.

KOKO CEO and Co-Founder Greg Murray welcomed the partnership, calling it a major step toward ending the harmful use of charcoal:

“Working with Mirova allows us to expand our impact and bring clean cooking to more families,” he said.