Why We Invested in PowerUP: Revolutionizing Clean Cooking in Africa

Overview of PowerUP

PowerUP is on a mission to revolutionize cooking in Africa by transitioning households to the cleanest form of cooking: electric. Over the past two years, PowerUP has developed and deployed smart-metered PAYGO electric stoves tailored for African markets, significantly impacting over 40,000 homes across Kenya, Uganda, Tanzania, Zambia, and Ghana. With this new investment round, PowerUP aims to expand its distribution presence, build its data platform, and launch its shared carbon program. CEO Kato Kibuka envisions a future where electric cooking solutions save money, time, and lives by eliminating harmful fumes and improving health outcomes for millions. 

"Electricity can be the cleanest, cheapest cooking fuel in Africa. We have the opportunity to save households millions of dollars in spending and cooking hours as well as slow down deforestation." _Kato Kibuka, Co-founder, PowerUP

Overview of Delta40

As a VC Investor & Venture Studio that is reimagining the way we invest in and support entrepreneurs in Africa, we are thrilled to lead an investment in PowerUP. Our mission is to propel innovative ideas to pan-African prominence, championing both the founders and the transformative impact they bring to the continent. PowerUP is an example of a venture with an exceptional founder who is leading a transformative impact.

Why We Invested in PowerUP

In a reflection about the recent investment, our Managing Partner, Lyndsay Handler, shared her excitement, stating, "I am truly excited to be partnering with PowerUP on their journey to revolutionize electric cooking in Africa. Their innovative approach and dedication to making clean cooking accessible align perfectly with our mission to tackle climate change and increase incomes across Africa."

We're particularly excited about the electric cooking market, particularly for long-boil African cuisines. Each year, 3.2 million people die prematurely from illnesses attributable to household air pollution caused by the incomplete combustion of solid fuels and kerosene used for cooking (WHO) - PowerUP's solutions offer a vital remedy. These deaths, primarily affecting women and children, are avoidable through a shift towards clean cooking with PowerUP solutions. Charcoal, the predominant cooking fuel in urban Africa, is not only expensive but also contributes to rapid deforestation and carbon emissions.

The market opportunity for PowerUP's line of electric cooking appliances is significant, as is their impact potential. PowerUP aims to bring its innovative solution to 12M+ households,  saving lives via a healthier cooking solution and mitigating climate change by preventing deforestation and reducing carbon emissions. On average, households spend around 15% of their income on cooking fuel. We believe PowerUP will have a significant impact on households.

Moreover, PowerUP's products are data-driven, leading to higher-integrity carbon credits with premium prices. Their competitive advantages include a scalable distribution model and strong carbon crediting potential.

Delta40's investment in PowerUP goes beyond financial backing; we are providing them with venture-building services to amplify their growth. We are currently supporting PowerUPp with the design and engineering of new electric cooking products, expanding their distribution through new channels and markets, and recruiting top talent to take their solution to scale. 

As PowerUP continues its journey to make clean cooking accessible to all, they have $500K remaining in this round. Are you interested in joining us in this mission and learning more about how you can support PowerUP? Reach out to elana@delta40.com for more information and to explore partnership opportunities.