AlphaMundi Group Ltd (“AMG”), through its SocialAlpha-Bastion Investment Fund (“SAIF”), provided debt financing to Burn Manufacturing (“BURN”), the world’s leading clean cookstove manufacturer, distributor, and carbon project developer. AMG’s loan was invested through BURN’s innovative green bond program – Sub-Saharan Africa’s first-ever green bond designated for clean cooking financing. The proceeds from the overall bond program will allow BURN to increase its existing manufacturing capacity in Kenya as well as launch a new manufacturing facility in Lagos, Nigeria. Production will increase from 2023’s 400,000 units per month to 600,000 units and will produce a range of life-saving biomass, electric and LPG stoves.
