GET IN TOUCH
- Please wait...
B-Briddhi teams up with ATEC. ATEC provides sustainable, affordable and accessible clean cooking products for bottom of the pyramid communities. ATEC’s patented Internet of Things (IoT) stove products deliver modern, affordable cooking to households which generate 100% verifiable, real-time Gold Standard carbon credits and lead to even lower costs for customers. ATEC’s mission for decarbonizing cooking is a USD 16 Bn per year opportunity that serves to save lives by offsetting 1 gigaton of emissions. ATEC operates in Bangladesh as part of ATEC Australia-International Limited. In addition to Bangladesh and Australia, ATEC operates in Cambodia and Singapore. Through the Impact Ready Matching Fund (IRMF) structure, ATEC will receive financial incentives to deepen its impact measurement practices by gathering more accurate data from their target customers, specifically those from the rural and semi-urban populations.
IRMF is a one-to-one matching fund, targeting early-stage impact startups, or startups with impact potential. The average ticket size is USD 100k and the goal is to incentivize enterprises to establish and implement impact measurement and management practices.
The signing ceremony took place on Thursday, 1st June 2023 in Dhaka, where Bijon Islam, Co-founder and CEO at LightCastle Partners, and Shuvasish Bhowmick, CSCM™, Country Director (Bangladesh) At ATEC, along with Monika Noshin, Funding Coordinator were present.
Shuvasish Bhowmick, CSCM™, Country Director (Bangladesh) At ATEC said, “We are delighted to receive support from Biniyog Briddhi, a pioneering project initiated by Roots of Impact, LightCastle Partners, and the Embassy of Switzerland in Bangladesh. ATEC is dedicated to expanding the programme with the aim of ensuring universal access to the IoT-based e-cook stove and the biogas-based products to the customers in Bangladesh.”
Bijon Islam, Chief Executive Officer at LightCastle Partners said, “We hold a strong belief in the profound impact ATEC can have in supporting climate smart solutions and providing affordable cooking and energy solutions to the communities in Bangladesh. We are excited to contribute to ATEC’s pursuit of an impactful future and look forward to being a part of this transformative journey.”
B-Briddhi is a multi-year partnership supported by the Embassy of Switzerland in Bangladesh and implemented by Roots of Impact and LightCastle Partners. It supports impact enterprises to have better access to innovative financing options and be better equipped to attract investors.
Our experts can help you solve your unique challenges
