EKI Energy Services establishes GHG Mitigation Technologies for the backward integration of carbon credit supply

#EKIEnergyServices #CarbonCredits #GHGMitigation #CookStoveManufacturing

The new company will offer carbon offset solutions in a phased manner, starting from the manufacturing of cook stoves to the subsequent generation and supply of carbon credits to companies globally

January 2022 : EKI Energy Services Ltd. (EKIESL) has announced the incorporation of a new associate – GHG Mitigation Technologies Pvt. Ltd. The new company will oversee end-to-end management of the carbon offset supply chain in a phased manner. GHG Mitigation Technologies Pvt. Ltd. will manage the backward integration of carbon credit supply chain through EKIESL’s community development project - Green Cooking initiative that replaces traditional inefficient mud stoves with improved cook stoves across rural households globally. In the first phase, it will manage the manufacturing and distribution of improved cook stoves. Over the subsequent phases, the associate will oversee & manage the generation and supply of carbon credits to companies across the world in close consultation with EKIESL.

Manish Dabkara, CMD & CEO, EKI Energy Services Ltd. said, “As a brand, we are consistently innovating to develop sustainable solutions to mitigate carbon emissions on the planet. The new company is a strategic step in this direction that will enable us to holistically manage the backward integration of carbon credits. We plan to first generate credits through the cook stoves and then supply it to companies globally to achieve their climate ambitions. With the strategic management of the carbon credit supply chain, we will now be able to further enhance our leadership position in the global carbon markets”.

The new group company will be co-owned by EKIESL with a 49.5% stake and remaining held by corporate/individual investors. It will be registered with Indore (MP ROC) and will have its manufacturing unit in Nasik, Maharashtra.

Introduced in 2018, EKIESL’s Green Cooking initiative is a sustainable community development program that provides efficient cook stoves free of cost to economically weaker families in remote locations across the globe. EKIESL has given out over 80,000 cook stoves as on date and plans to scale the initiative to 2.5 million cook stoves in the next six months which can help offset millions of metric tons of carbon footprint.

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