One of the Largest Clean Cooking Initiatives Launched in Pakistan as Global Carbon Investments and Bboxx Join Forces

• Deliver millions of LPG cooking solutions, transforming the country's energy landscape
• Clean cooking essential for improving health and cutting carbon emissions

Dubai, United Arab Emirates--(Newsfile Corp. - December 1, 2023) - A ground-breaking initiative to bring clean cooking to millions of people in Pakistan has been launched today by Global Carbon Investments (GCI) in a strategic partnership with Bboxx.

GCI, a UAE based pioneering investment vehicle dedicated to scaling climate finance for transformative impact and a fully owned subsidiary of the Private Office of Sheikh Ahmed Dalmouk Al Maktoum, is announcing a strategic partnership with Bboxx, a super platform which transforms lives and unlocks potential by connecting consumers and deploying innovative products, especially in Africa.

Together, they are set to launch one of the world's largest clean cooking initiatives, leveraging innovative smart LPG (liquid petroleum gas) technology to provide efficient and affordable cooking solutions.

Bboxx, with its expertise in technology and innovative products, is collaborating with GCI to address the critical issue of energy poverty in Pakistan where access to clean energy and cooking solutions is limited. Pakistan faces seasonal gas shortages, exacerbated by the depletion of natural gas fields at a rate of about 9% each year.

The initiative aims to deliver millions of LPG cooking solutions, marking a significant step towards transforming the country's energy landscape. The LPG gas tanks feature a revolutionary Pay As You Cook technology, ensuring affordable access to efficient cooking practices.

Sheikh Ahmed Dalmouk Al Maktoum said: "The partnership between GCI and Bboxx marks a significant milestone in the global effort to combat energy poverty and access to essential services. Together, we are pioneering scalable solutions that address both social and environmental challenges, setting a new standard for clean cooking initiatives worldwide."

Mansoor Hamayun, Co-founder and CEO of Bboxx, said: "This partnership with GCI is game-changing for millions of people Pakistan - improving health while cutting emissions - which is a win-win. As I was born in Pakistan this is also personal as through technology and partnerships like this we are able to improve people's lives for the better."

Bboxx has deployed its smart solutions in over 11 countries throughout Africa, benefiting more than 3.6 million people. This includes the provision of clean cooking solutions in Rwanda and DRC. Through its network of over 2,000 committed agents, the Bboxx data-driven super platform facilitates approximately 56 million digital payments annually. With its cutting-edge and efficient technologies, Bboxx has established strategic partnerships with global entities such as Mitsubishi, Shell Foundation, United Nations Foundation and Trafigura.

To make these smart cooking valves more affordable to consumers, Blue Carbon, a UAE based subsidiary of GCI, is actively exploring the potential of linking this enhanced cooking efficiency solution to carbon finance through carbon credits under Article 6 compliant methodologies. As Article 6 negotiations gain clarity at COP28, this potential will be further explored.

About GCI

Based in the UAE, Global Carbon Investments is a dedicated investment vehicle and aggregator of high value carbon credits. GCI seeks to unlock the economic potential of natural resources by prefinancing the development of future carbon credits and sustainable projects. The company's aim is to catalyse global efforts for decarbonization through crucial climate finance investments.

About Bboxx

Bboxx is a data-driven super platform, transforming lives and unlocking potential and accelerating the transition to the digital economy by connecting consumers and deploying innovative products across Africa. The company has built Bboxx Pulse®, a fully integrated operating system and combined it with an extensive on-the-ground network to connect customers with clean energy, clean cooking, smartphones, e-mobility and selected financial products - many for the first time.

Following the successful acquisition of solar energy frontrunner PEG Africa in 2022, Bboxx is now positively impacting the lives of more than 3.5 million people in 10 operating markets, directly contributing to 11 of the 17 United Nations Sustainable Development Goals. Bboxx and its group of companies is one of the largest networks in Africa, with over 4,000 staff across Africa and offices in the UK and Asia.

GCI:
Lesia Buinoza
[email protected]

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/189270