ATEC

About ATEC

ATEC is a social enterprise dedicated to decarbonizing cooking for households in Asia and Africa by connecting them to global carbon markets. Founded in 2016 by Ben Jeffreys, the company originated in Cambodia with the development of a biodigester designed for its flood plains, which won the inaugural Google Impact Challenge in 2014. Jeffreys, with a background in social enterprise and international development, leads the company as CEO.

The company's business model centers on selling patented IoT-enabled smart cookstoves and biodigesters to low-income, base-of-the-pyramid households. ATEC operates on a pay-as-you-go (PAYG) system, making its products affordable through small monthly mobile money payments. This model integrates an IoT data infrastructure that precisely measures energy usage and emissions reductions in real-time for each household. The collected data is used to generate Gold Standard-certified carbon credits, which are then sold on the voluntary carbon market to corporate partners seeking to offset their emissions. A portion of the revenue generated from these carbon credit sales is distributed back to the households, creating a "Cook-To-Earn" system that provides a financial return for users.

ATEC offers two primary products: the eCook, an electric induction stove for on-grid households, and a biodigester for off-grid farming households that converts waste into biogas for cooking and organic fertilizer. The eCook stoves feature GSM connectivity for real-time data collection on usage, location, and unit health. This data is aggregated through dMRV (Digital Monitoring, Reporting, and Verification) software to verify emissions reductions and generate transparent carbon credits. The company has expanded its operations to 10 countries across Asia and Africa. ATEC has secured significant funding, including a $15.5 million Series A round, and has entered into major carbon credit purchase agreements with organizations like ENGIE, the KliK Foundation, and myclimate.