CarbonEx
CarbonEx is a Nigeria-based climate tech company that deploys IoT-enabled smart cookstoves with AI-driven digital MRV and blockchain verification, monetizing household clean cooking activity as carbon credits and recycling revenue as LPG fuel subsidies for low-income African households.
- Company typePrivate
- Founded2022
- HeadquartersAbuja, Nigeria
- Headcount1–10
- GTM typeB2B
- OfferingServices
What CarbonEx does
CarbonEx is a Nigeria-based climate technology company founded in 2022 that provides IoT-enabled smart cookstoves, AI-driven digital monitoring, reporting and verification (dMRV), and carbon finance services to low-income African households. Its core product is a patented smart cookstove embedded with temperature, gas flow, pressure, and time-based sensors that transmit encrypted usage data in real time over cellular networks — independent of user smartphones or Wi-Fi — to a cloud-based dMRV engine. The engine applies big data analytics and AI algorithms, including anomaly detection pipelines, to convert raw sensor signals into verified household-level carbon reduction estimates, with results immutably stored on a blockchain layer for auditability.
The company's business model monetizes verified carbon reductions by issuing tradable carbon credits sold to corporate ESG and offset buyers, and then recycles a portion of that revenue back to households as subsidized LPG refills via a proprietary smart card/wallet system (the Climate-Finance Credit Model). This closed-loop structure is designed to make clean cooking cheaper than charcoal for end users, addressing the affordability barrier that has historically stalled clean cooking adoption across Sub-Saharan Africa. CarbonEx reaches households through a multi-channel GTM combining community mobilization, corporate distributors (e.g., MAIS Trade Ltd), NGOs, government agencies, and direct field deployment, with current reach spanning 24 Nigerian states and approximately 4,800 onboarded households as of 2024. The company is a private LLC registered with Nigeria's Corporate Affairs Commission, operates with 1-10 employees, and is hosted within the AUSTInspire incubator at the African University of Science and Technology in Abuja.
CarbonEx firmographics
Firmographics- Name
- CarbonEx
- Legal name
- CarbonEx
- Website
- https://carbonex.africa
- Company type
- Private
- Founded year
- 2022
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- CarbonEx is a Nigeria-based climate tech company that deploys IoT-enabled smart cookstoves with AI-driven digital MRV and blockchain verification, monetizing household clean cooking activity as carbon credits and recycling revenue as LPG fuel subsidies for low-income African households.
- Ownership category
- akta.pro rank
CarbonEx industry classification
Industry- Product category
- Clean Cooking & Carbon Finance
- akta.pro primary industry
- Tokenization, Digital MRV-Linked Credits & On-Chain Carbon Infrastructure (Digital assets, provenance) (EUABAAAE)
- akta.pro secondary industries
- Data Assurance, Audit & Attestation (ISAE 3000/3410, SOC, Chain-of-Custody) (EUABACAJ), Carbon Registries & Issuance Platforms (Project/credit lifecycle, serials, issuance, retirement) (EUABAAAA), Project-Originated Carbon Credit Marketing & Offtake (Primary Market) (EUAGAIAC)
Keywords
Where CarbonEx is headquartered
LocationHeadquarters
- HQ city
- Abuja
- HQ country
- Nigeria
- HQ region
- Africa
Offices1 record
Markets served
CarbonEx business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Technology or R&D, Operations, Personnel, Marketing or Sales
Revenue model
- Carbon Credit Sales: Verified carbon credits generated from household clean cooking activity are sold to companies seeking credible offsets and ESG-aligned impact. Revenue is tied directly to real household activity measured through IoT devices. A portion of revenue is rechanneled back to households as fuel support.
- Climate Finance Integration: Carbon revenues reduce LPG/clean energy costs for households through a closed-loop financing model. This creates sustainable demand by making clean cooking economically viable for low-income households.
Go-to-market motion2 records
Distribution channels4 records
Marketing channels3 records
CarbonEx product offering
Product offeringCore offering
CarbonEx provides IoT-enabled smart clean cookstoves to low-income households in Nigeria, then runs the captured usage data through an AI/ML digital MRV engine and blockchain storage to generate verified carbon credits, which it sells to companies seeking credible offsets. Carbon credit revenue is digitized through CarbonEx Smart Cards and routed back to the households to subsidize their cooking fuel costs.
Product overview
CarbonEx is a climate-tech platform that operates as a unified system integrating proprietary IoT-enabled Smart Clean Cookstoves, a Digital MRV (dMRV) Engine, Carbon Credits Generation, and a Climate-Finance Credit Model. The Smart Clean Cookstove serves as the core hardware asset embedded with sensors (temperature, gas flow, pressure) that capture real-time usage data at the household level. This data feeds into the dMRV Engine, which uses Big Data and AI algorithms to model and verify carbon reductions, with blockchain securing the data immutably. Verified reductions automatically generate tradable carbon credits through the Carbon Credits system, which integrates with global carbon registries. Revenue from carbon credit sales flows back to households through the Climate-Finance Credit Model via CarbonEx Smart Cards/Wallets, subsidizing LPG and clean energy refills and making clean cooking cheaper than charcoal. The platform transforms households from passive beneficiaries into active data points and climate asset generators within a traceable climate-finance ecosystem.
Differentiator
Problem solved
Functional benefit
Products and services
- Smart Clean Cookstove
- Digital MRV Engine
- Verified Carbon Credits
- CarbonEx Smart Cards
Quantifiable outcome
- Household energy cost reduction through carbon finance
- +3 more outcomes
Companies that use CarbonEx
Customer profileSegments1 record
Ideal customer profiles2 records
CarbonEx technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
AI capability3 records
Feature5 records
CarbonEx partnerships and signals
Strategic signalPartnerships
Eight partnerships are on record, tiered core and secondary.
- NIGCOMSATcoreNigerian Communications Satellite company engaged for digital infrastructure and connectivity solutions supporting the IoT-enabled cookstove platform.
- MAIS Trade LtdcoreCorporate partner engaged in 2024 for distribution and household onboarding across multiple states.
- Ellah Lake FarmssecondaryCorporate partnership established in 2024 for clean energy initiatives and ecosystem development.
- West African Conservation NetworksecondaryConservation network partnership for regional climate and environmental initiatives.
- AUSTInspirecoreAUSTInspire is the innovation and incubation arm of the African University of Science and Technology. Hosts CarbonEx's headquarters and provides institutional support, research collaboration, and ecosystem access.
- GSFNsecondaryGlobal Sustainable Finance Network partnership for climate finance collaboration and network access.
- HutzpasecondaryPartner organization supporting distribution and market access for clean energy solutions.
- Mobo Energy LimitedsecondaryEnergy technology partner supporting clean energy solutions and platform integration.
Scale indicators5 records
Recent moves8 records
Expansion highlights5 records
CarbonEx competitors and assessment
Company assessmentDirect peers
- Sistema.bio: Mexico-headquartered biodigester and cookstove platform operating across Africa and Latin America, with a carbon credit monetization layer. Directly comparable model: hardware deployment to smallholder households plus VCM revenue financing.
- BURN Manufacturing: Kenya-based manufacturer of high-efficiency cookstoves with a carbon credit financing program serving East African households. Direct competitor to CarbonEx in IoT-enabled clean cooking plus carbon monetization across Africa.
- C-Quest Capital: Carbon project developer specializing in clean cooking and safe water credits across sub-Saharan Africa and South Asia. Closely comparable because it monetizes household-level clean cooking activity into voluntary carbon credits at scale.
- Envirofit International: US-headquartered clean cookstove manufacturer and distributor with deep presence in East Africa and India. Comparable as a hardware-plus-carbon-credits operator targeting low-income households in emerging markets.
Broad incumbents
- Atmosfair: German carbon offset developer purchasing cookstove and clean energy credits from African projects. Comparable as a downstream credit buyer/aggregator that defines quality standards influencing CarbonEx's market access.
- Verra: Operator of the world's largest voluntary carbon registry (VCS), setting methodologies that govern how cookstove credits are issued. Directly comparable because CarbonEx's credits must be registered on Verra (or comparable) platforms to monetize.
- South Pole Group: Major carbon project developer and credit supplier with extensive clean cooking portfolio across Africa. Overlaps with CarbonEx on the supply side of household-level emission reduction credits.
- Clean Cooking Alliance: UN Foundation-hosted industry consortium setting standards and channeling capital into clean cooking globally. Broad incumbent operating in the same ecosystem as CarbonEx with overlapping household and carbon finance mandates.
Others
- Climate Pal / Acumen Clean Cooking Portfolio: Acumen is a major impact investor in African clean cooking ventures (e.g., BURN, Sistema.bio). Comparable as an ecosystem participant that shapes capital flows to companies like CarbonEx pursuing clean cooking + carbon finance.
Emerging players
- Berkeley Air Services Group: Specialist monitoring & evaluation consultancy for clean cooking and household energy programs. Comparable because its stove usage monitoring (STUM) methodology is the closest analog to CarbonEx's dMRV engine.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights6 records
Customer concentration
CarbonEx social profiles
Digital presenceCarbonEx financial estimates
Financial estimateRevenue estimate
Valuation estimate
CarbonEx leadership team
Management profileNumber of profiles
Profiles1 record
CarbonEx funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
CarbonEx M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about CarbonEx
What does CarbonEx do?
CarbonEx provides IoT-enabled smart clean cookstoves to low-income households in Nigeria, then runs the captured usage data through an AI/ML digital MRV engine and blockchain storage to generate verified carbon credits, which it sells to companies seeking credible offsets. Carbon credit revenue is digitized through CarbonEx Smart Cards and routed back to the households to subsidize their cooking fuel costs.
Is CarbonEx a public or private company?
CarbonEx is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was CarbonEx founded?
CarbonEx was founded in 2022. It employs 1 to 10 people.
Where is CarbonEx based?
CarbonEx is headquartered in Abuja, Nigeria, in the Africa region.
How does CarbonEx make money?
Two revenue lines are on record. Carbon Credit Sales are the primary driver. The others are climate Finance Integration.
Who are CarbonEx's main competitors?
Direct peers on record are Sistema.bio, BURN Manufacturing, C-Quest Capital and Envirofit International. Broad incumbents are Atmosfair, Verra, South Pole Group and Clean Cooking Alliance. Climate Pal / Acumen Clean Cooking Portfolio is listed as an others. Berkeley Air Services Group is listed as an emerging player.
Does CarbonEx have an API?
No public API is recorded for CarbonEx.
What industry is CarbonEx in?
CarbonEx's product category is Clean Cooking & Carbon Finance. Its primary akta.pro industry code is EUABAAAE, Tokenization, Digital MRV-Linked Credits & On-Chain Carbon Infrastructure (Digital assets, provenance), with a secondary code of EUABACAJ, Data Assurance, Audit & Attestation (ISAE 3000/3410, SOC, Chain-of-Custody).