KOKO's mission is to imagine and deliver technology that transforms life in the world's fastest growing markets. We are doing this first with our clean fuel platform that delivers major outcomes for households, public health, air quality and tropical forest protection.
Yesterday, Sunday 8 May, our more than 1,200-strong team celebrated another milestone, with our clean fuel and carbon platform now reaching over 450,000 household subscribers in Kenya.
Uptake of the KOKO Fuel solution has grown especially fast so far this year, with consumers responding well to this extremely affordable and safe modern solution - customers across Nairobi, Mombasa, and now Kisumu, can access the next generation KOKO Cooker at less than half the price of competing modern solutions.
Numerous emerging markets are facing record high charcoal prices and negative social and environmental impacts from increasing deforestation; KOKO is therefore actively exploring new markets. In March, together with the Rwanda Development Board and Dalberg, we announced a $25m investment agreement with the Government of Rwanda to bring KOKO's proven technology to consumers across Rwanda in the world's first nation-wide clean fuel utility.
Last month, we also announced that KOKO is the first emerging markets equity investment in Africa from the Microsoft Climate Innovation Fund, as we work to accelerate the transition from deforestation-based charcoal cooking fuel in emerging markets.
A critical building block in this is the continued investment we are making in expanding Cooker production at our dedicated manufacturing facilities in Gujarat, India.
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