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Problem
Nearly half the world's population still cooks on open smoky fires, causing over four million respiratory-related deaths annually—more than AIDS, malaria, and tuberculosis combined. They also emit more black carbon, the second-greatest contributor to climate change, than all of the world's cars and trucks.
Solution
BioLite designs and manufactures personal-scale energy appliances that enable users to cook, charge, and light their lives off the grid. BioLite believes in a market-based business model that leverages the revenue generated from their outdoor recreation product line to support their emerging markets initiative where BioLite partners with 3rd party credit-enabled distributors. These partners provide consumer finance to sell products to off-grid, low-income customers within their channels. BioLite supports distribution partners by providing product demonstrations, customer training, and after-sales service.
To date, BioLite has retailed 20,000 HomeStoves and 5,000 SolarHome 620 units, providing life-changing clean energy access to 125,000 people.
Loan Use
This loan will enable BioLite to bridge the gap in cash-flows that exists between manufacturing their products and delivering them to off-grid, low-income customers.
