Acumen exits its stake in clean cooking company Kopagas following its acquisition by Circle Gas

TANZANIA – Acumen, a non-profit impact investment fund, has exited its stake in a Tanzanian-based clean cooking company KopaGas, following Circle Gas acquisition. KopaGas was founded in 2014 to bring clean cooking solutions to Tanzania, where, at the time, 96% of citizens—or 45 million people—were using dirty fuel like charcoal and wood for cooking. With its trademarked pay-as-you-go LPG technology, KopaGas made LPG affordable to low-income Tanzanian households for the first time. With funding from grantors like GSMA, the Department for International Development (DfID) and MIT D-Lab, the company developed…

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FMO invests US$2.8m in Acumen’s Pioneer Energy Investment Initiative

AFRICA – FMO, a dutch development bank, has invested US$2.8 million into Acumen’s Pioneer Energy Investment Initiative (PEII), surpassing the PEII’s goal of raising US$20 million to bridge the funding gap in off-grid energy and accelerate energy access across the developing world. With the PEII, Acumen’s aim is to reach 2.8 million new customers through its portfolio of early-stage clean energy companies by 2026. Since launching the initiative in 2017, Acumen has invested more than US$7 million into eight pioneering companies. These investments, which include PEG, Easy Solar, KopaGas, PowerGen,…

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