In January, we were called on to support Circle Gas, a start-up that is revolutionising energy access for clean cooking in Africa. Circle Gas was announcing the acquisition of proprietary technology from Tanzania’s KopaGas in a transaction worth USD 25 million. The deal was the largest pure private equity investment in the clean cooking technology sector to date.
In parallel, Alok Sharma, the UK Secretary of State for Business, Energy and Industrial Strategy was in Nairobi for an event focused on investing in tech innovation and since DfID was an early supporter, Circle Gas was naturally in the media spotlight.
Circle Gas is helping to address multiple SDGs at the same times as it provides a reliable and low-cost supply of LPG fuel for clean cooking to low-income households by using innovative smart metering and advanced distribution logistics. LPG displaces the use of harmful and dirty charcoal and kerosene in the home. This reduces respiratory problems for women and children while reducing the felling of trees that would otherwise be used for firewood or to make charcoal. About 900 million people, or 70% of the population of sub Saharan Africa have not yet transitioned to clean and modern cooking fuels.
Read more about it in this Reuters feature.