C-Quest Capital (CQC), a social impact project developer working to transform the lives of people at the base of the pyramid (BoP). Through innovative carbon projects that provide access to sustainable energy services and clean energy cooking technologies.
According to the most recent data from the International Energy Agency (IEA), a staggering 2.6 billion people still don’t have access to clean and safe cooking methods. Instead, they rely on traditional fuels like firewood, kerosene, or coal for their cooking needs. Which has negative knock-on effects on climate and health.
To scale up its manufacturing operations, improve its supply chain and reach more BoP users across the SSA region, CQC required a substantial investment. BIX Capital saw this opportunity and has funded a total of 3 investment rounds to CQC to date through an impact receivables facility. The investment pipeline together with CQC includes a USD 800,000 investment made in 2016. Building on this collaboration, BIX Capital further supported CQC’s growth by closing a significant USD 2,750,000 “pathfinder facility” deal in Q4-2020, specifically aimed at expanding CQC’s clean cooking initiatives in SSA. Additionally, BIX Capital participated in a joint USD 10 million facility with FMO, taking a 36% junior stake, underlining their commitment to fostering social and environmental impact alongside CQC’s work.
The impact
Thanks to BIX Capital’s pioneering investments, CQC is on track to provide clean double cookstoves to a remarkable 7 million households by 2026. This initiative will positively impact the lives of over 28 million people across more than 15 sub-Saharan African nations, including Zambia, Malawi, Kenya, Uganda, Zimbabwe, Mozambique, Tanzania, and Angola. Notably, our investment will also make a significant contribution to mitigating climate change through clean products, with an impressive total reduction of 140 million tCO2e in greenhouse gas emissions anticipated by 2026.
Date
2016
Investment value
USD 13.55 million
Instrument
Underwriting Carbon Credits