EKI Energy Services Ltd.(EKIESL) incorporates new venture –GHG Mitigation Technologies Pvt. Ltd., for the backward integration of carbon credit supply through its Green Cooking initiative – EQ Mag Pro
The new company will further enhance the leadership of EKIESL in the global carbon markets as a brand that offers end-to-end management of carbon credit generation and supply.
GHG Mitigation Technologies Pvt. Ltd. will oversee the seamless implementation of EKIESL’s community development project – the Green Cooking initiative
The new company will offer carbon offset solutions in a phased manner, starting from the manufacturing of cook stoves to the subsequent generation and supply of carbon credits to companies globally.
India: EKI Energy Services Ltd. (EKIESL), a leading developer and supplier of carbon credits (environmental commodity) in the World, today announced the incorporation of a new associate –GHG Mitigation Technologies Pvt. Ltd. The new company will oversee end-to-end management of the carbon offset supply chain in a phased manner.
GHG Mitigation Technologies Pvt. Ltd. will manage the backward integration of carbon credit supply chain through EKIESL’s community development project – Green Cooking initiative that replaces traditional inefficient mud stoves with improved cook stoves across rural households globally. In the first phase, it will manage the manufacturing and distribution of improved cook stoves. Over the subsequent phases, the associate will oversee & manage the generation and supply of carbon credits to companies across the world in close consultation with EKIESL.
This will enable EKIESL to achieve newer heights as a leader in the carbon markets which offers a diversified and comprehensive bouquet of end-to-end solutions for climate action and carbon offset.
Mr. Manish Dabkara, CMD & CEO, EKI Energy Services Ltd. said, “As a brand, we are consistently innovating to develop sustainable solutions to mitigate carbon emissions on the planet. The new company is a strategic step in this direction that will enable us to holistically manage the backward integration of carbon credits. We plan to first generate credits through the cook stoves and then supply it to companies globally to achieve their climate ambitions. With the strategic management of the carbon credit supply chain, we will now be able to further enhance our leadership position in the global carbon markets”.
The new group company will be co-owned by EKIESL with a 49.5% stake and remaining held by corporate/individual investors. It will be registered with Indore (MP ROC) and will have its manufacturing unit in Nashik, Maharashtra.
Introduced in 2018, EKIESL’s Green Cooking initiative is a sustainable community development program that provides efficient cook stoves free of cost to economically weaker families in remote locations across the globe. Efficient cook stoves are not only environmentally safer given its reduced emission of greenhouse gases, but they also offer numerous social and economic benefits that align with multiple UN Sustainable Development Goals (SDGs) including – climate action, reduction in firewood consumption, forest and biodiversity conservation, good health & well
being, employment creation, savings in health cost, enhancement of indoor air quality inside homes amongst others.
EKIESL has given out over 80,000 cook stoves as on date and plans to scale the initiative to 2.5 million cook stoves in the next six months which can help offset millions of metric tons of carbon footprint.
Since its inception in 2008, EKIESL has been working towards building a sustainable planet and offers comprehensive bouquet of end-to-end solutions for climate actions, enabling companies to achieve their climate goals. The company recently joined hands with Shell Overseas Investments BV (a unit of Royal Dutch Shell plc) to launch a joint venture to work on reducing carbon emissions in India through Nature based solutions.
About EKI Energy Services Limited (EKIESL)
EKI Energy Services Limited is a leading Carbon Credit Developer & Supplier in the World. Founded in 2008, the Bombay Stock Exchange listed company is more popularly known as EnKing International. EKIESL has been passionately working towards rehabilitating planet Earth to a future of net-zero carbon emission. The company offers sustainable solutions for climate change and carbon offset with global standards like CDM, VCS, Gold Standard, GCC, IREC, TIGR and others.
With an aim to contribute for the development of a climate resilient global economy, the company offers strategic solutions to businesses and organizations globally to achieve their climate ambition. EKIESL has over 2500 clients across 40 countries worldwide and has supplied in over 100 million offsets as on date.