The Innovation Fund, a US$1.2 million facility, is a component of Renewable Energy and Adaptation to Climate Technologies (REACT), that aims to catalyze the private sector to develop new or scale innovative and catalytic approaches to address the low access to affordable and efficient technologies.
Through the fund, technical and financial support will be provided to existing enterprises that are sufficiently developed to address affordability and accessibility of clean cooking, and productive use energy technologies.
The Fund will invest in technologies that meet market needs as well as accelerating the development of existing solutions to better serve African communities and not technologies in the prototype stage.
The Fund builds on AECF’s Renewable Energy and Adaptation to Climate Technologies (REACT) initiative, which was launched to support the private sector to develop and expand its clean energy technologies to Africa’s rural communities.
To support the private sector to commercialize existing innovative products and business models that are sufficiently developed to address affordability and accessibility of clean cooking, and productive use energy technologies.
To offer financial support tailored to the needs of eligible projects while attracting additional resources in matching funds.
Scalable supply chain models for providing clean cooking solutions (especially in rural areas). Acknowledging that supply chains for cleaner fuels lack the necessary scale to reach many rural communities, the fund seeks to support supply chain innovations that can e.g., address demand uncertainty by matching demand and supply (e.g., Uberisation of the supply chain).
Alternative clean cooking technologies (stoves and fuels) e.g., mini-grid and solar PV powered electric cooking.
Business models and technological innovations for Productive Use Energy (PUE) appliances such as milling, threshing, grating, specific value chains (poultry, dairy, and coffee) and commercial scale refrigeration etc
Solutions that narrow the energy access affordability gap for clean cooking and productive use e.g., sustainable consumer financing models that could bring Tier 3(indoor emissions/overall emissions) and above within reach of a larger share of the population.