Vitol to invest $550 million in clean cooking technologies in Africa

Commodities trader Vitol and its subsidiary Vivo Energy plan to invest more than $550 million in the infrastructure required to facilitate cleaner cooking in Africa by 2030, the company announced on Tuesday.

Vivo Energy said this pan-African investment comprises both LPG infrastructure, from marine terminals to high-quality cylinders required for the safe distribution of LPG, as well as investment in clean cooking carbon projects.

Speaking at the Summit on Clean Cooking in Africa at the UNESCO Headquarters in Paris, Russell Hardy, Vitol CEO, said that clean cooking improves the respiratory health of women, children and the elderly while empowering women by reducing the time required to source fuel and significantly reducing deforestation, as well as delivering real carbon emission savings.

The summit, hosted by the International Energy Agency, the African Development Bank, and the governments of Tanzania and Norway, convened global leaders to make 2024 a turning point for progress on ensuring clean cooking access for all.

Hardy said that Vitol has promoted clean cooking for the past 20 years through clean cooking carbon projects and investments in LPG infrastructure.

The Vitol group has enabled access to clean cooking for over 10 million households.

It includes 2.1 million efficient cookstoves across five sub-Saharan African countries through carbon credit projects and access to clean cooking across 12 countries in Africa through high-quality and safe LPG cylinders, leveraging Vivo Energy’s strong presence on the ground in Africa.

Stan Mittelman, CEO of Vivo Energy, added: ‘LPG is an important component of the energy transition and is becoming increasingly popular in Africa as a cleaner source of energy than traditional fuels such as wood, charcoal, or paraffin. It reduces CO2 emissions and is easier for customers to access. A key part of Vivo Energy’s strategy is to accelerate the growth of LPG across Africa.’

• LPG
• UNESCO