Powerstove Energy

Company overview
Headquarters: Nigeria
Countries of Operations: Nigeria
Women owned /led: Founded by at least one woman
Year of founding: 2018
Number of FTEs : 20 to 50 FTEs
Legal status of the organization : For-profit
Company overview
Headquarters: Mexico
Countries of Operations: Mexico
Legal status of the organization : For-profit
Year of founding: 2018
Number of FTEs : 5 to 20 FTEs
Women owned / led: Founder
Care economy activities and business model
About the organization:
Powerstove Energy is a social enterprise based in Nigeria that provides cookstoves and biomass pellets for clean household cooking. The company offers pay as you go cook financing for purchasing cookstoves. The product reduces the amount of time that is spent in cooking and saves labour in collecting of wood. Powerstoves have reduced greenhouse gas emissions by 2,660,000 tons of carbon (a single Powerstove saves roughly 5 tons Co2 per annum), contributing to global efforts to mitigate climate change.
Activities in the care economy: Provision of affordable time and labour saving technology and products
Stage of growth: Small scale roll-out/Early stage
Type of services: Labour saving solutions
Number of customers (2020): Between 5,000 to 25,000
Number of customers (2019): Between 1,000 to 5,000
Number of customers (2018): Less than 1,000
Financials
Profitability status: Not profitable yet but planning to become profitable within 3 years
Revenue USD (2020): 250K- less than 500K
Revenue USD (2019): 100K- less than 250K
Revenue USD (2018): Less than 10K
Pathways to impact
Challenge addressed: Lack of affordable solutions to reduce amount of time spent on care and domestic work
Pathway to impact - 4 Rs: Reduce
Populations affected: Unpaid care workers, Paid care workers, Unpaid domestic workers, Paid domestic workers
Number of people served (2020): Between 5,000 to 25,000
Number of people served (2019): Between 1,000 to 5,000
Number of people served (2018): Less than 1,000