16 March (Washington, DC)/17 March (Singapore) – C-Quest Capital LLC (“CQC”) is pleased to announce today that it has closed a US$14 million funding commitment from Temasek, a global investment company headquartered in Singapore, via its carbon solutions platform, and Pavilion Energy, a global energy merchant with offices in Singapore and Spain, to expand its innovative clean cookstoves program across South-East Asia.
The investment will initially fund the deployment of clean cookstoves to 650,000 rural households across Thailand, Vietnam, Cambodia, and Laos, with the opportunity to further scale to 1 million households. It also underscores Temasek’s continuing journey to catalyze decarbonization efforts that will address today’s climate challenges. CQC has an innovative two stoves per household approach and provides each household with one of the most thermally efficient rocket stoves on the market, supplemented by an artisan-produced clay stove to meet local cooking culture requirements. This approach serves to minimize the use of inefficient, polluting open fire cooking and maximize health and time savings benefits to women, girls, and infants. The projects will generate c.48 million carbon credits over their lifetime, as well as significant sustainable development impact across health and wellbeing, gender equality, affordable and clean energy, and economic growth.
“This partnership with Temasek and Pavilion Energy is catalytic, enabling the delivery of clean cooking services and the knock-on impacts of improved health and prosperity for rural women at scale across the region,” says Ken Newcombe, CEO of C-Quest Capital.
About C-Quest Capital C-Quest Capital is a world-leading carbon project developer with a track record of delivering transformative carbon projects across Sub-Saharan Africa, South-East and South Asia, and Central America. CQC’s mission is to catalyze a sustained transition to a climate-resilient future for communities whose health and economic welfare are at risk from climate change. Our activities focus on the distributed energy and land use sectors: providing access to sustainable and clean energy solutions, thereby reducing greenhouse gas emissions, combating global climate change, and improving the health and wellbeing of women and children. CQC was founded in 2008 and is headquartered in Washington D.C., USA, with subsidiaries in India, Malaysia, Singapore, and Australia, and on-the-ground teams in Malawi, Kenya, Zambia, and Cambodia, and active carbon projects in over 17 countries. For more information on C-Quest Capital, please visit www.cquestcapital.com
About Temasek, Temasek is a global investment company with a net portfolio value of S$381 billion (US$283b) as of 31 March 2021. Headquartered in Singapore, it has 13 offices in 9 countries around the world. The Temasek Charter defines Temasek's three roles as an Investor, Institution, and Steward, which shape its ethos to do well, do right, and do good. As a provider of catalytic capital, it seeks to enable solutions to key global challenges. With sustainability at the core of all Temasek does, it actively
seeks sustainable solutions to address present and future challenges, as it captures investable opportunities to bring about a sustainable future for all. For more information on Temasek, please visit www.temasek.com.sg
About Pavilion Energy Pavilion Energy is a wholly-owned subsidiary of Temasek. Headquartered in Singapore, its global energy business encompasses natural gas supply and marketing activities in South-East Asia and Europe; global LNG trading, shipping and optimization, and energy hedging and financial solutions. Pavilion Energy has also been a pioneer by developing LNG bunkering for the maritime industry and by promoting greenhouse gas emissions reduction and carbon offsets in the LNG value chain. As an advocate for LNG and natural gas as fuels of choice, we are driving energy transition efforts towards a more sustainable future for generations to come. For more information about Pavilion Energy, visit www.pavilionenergy.com.