ACUMEN ENTREPRENEURS BUILD SOLUTIONS TO THE TOUGHEST CHALLENGES FACING THE POOR
Providing rural customers across India with biomass-based cookstoves that use half the amount of fuel as traditional stoves
Of the 3.1 billion people globally that primarily depend on solid fuels (wood, biomass, charcoal) for cooking, 839 million live in India, more than in any other country. This translates to 67 percent of households.
The burning of solid fuels have devastating effects on the environment and personal health, which disproportionately impacts the poor. In fact, they are responsible for more than four million premature deaths a year and contribute to deforestation.
Additionally, biomass has proven to be a costly energy source for the poor, who are often without a viable alternative.
Greenway Grameen Infra’s flagship stove uses unique airflow technology to yield higher temperatures, reducing fuel use up to 50 percent as compared to traditional cook stoves.
The company’s partnership and retail model addresses market distribution and financing issues to become a one-stop destination for low-cost, life-improving appliances.
Greenway Grameen is projected to reach 3.3 million customers by 2020, impacting the lives of 16.9 million people living in poverty.
Currently, 75% of the company’s customers are from households with incomes of under $2.50 a day.
With higher thermal efficiency, fuel consumption is also reduced, increasing savings, productivity and lowering healthcare costs for customers.