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RWANDA COOKSTOVES

ACCELERATING CLEAN COOKING

Base Carbon funded the distribution of approximately 250,000 fuel-efficient cookstoves to households in rural areas of Rwanda.

Project Overview

  • In January 2022, Base Carbon entered into an agreement to fund the distribution of approximately 250,000 fuel-efficient cookstoves to families in rural areas of Rwanda.
  • Distribution completed in late 2022, on schedule and on budget.
  • In December 2023, Verra announced that it has applied “Article 6 Authorized" label to the carbon credits from the Company’s Rwanda cookstove project, marking the first time Verra has applied such Article 6 Authorized label to a carbon project registered in its Verified Carbon Standard Program.
  • The first Article 6 Authorized labeled carbon credits were transferred to Base Carbon in April 2024.
  • As of October 2024, Base Carbon holds approximately 1.7 million Article 6 Authorized labeled carbon credits in inventory.

About This Project

  • Project partner DelAgua, in collaboration with local NGOs, has successfully completed the distribution of approximately 250,000 fuel-efficient cookstoves to participating households in rural areas of Rwanda.
  • The DelAgua Group has been active in Rwanda since 2012 and has distributed over 1.2 million stoves as part of its broader Tubeho Neza project.
  • The Tubeho Neza project is the largest of its kind in the world, anticipated to deliver a total of 2.3 million stoves to households in rural areas of Rwanda.

Capital Allocated

$8.8 million

Devices Distributed

~250,000

Project Status

Issuing

Anticipated SDGs

Credits Issued

~1.7 million as of October 2024¹

The project is registered with Verra’s Verified Carbon Standard.

#### The project is registered with Verra’s Verified Carbon Standard.

¹BCCPC and the DelAgua Group have reached an agreement with respect to the implementation of the letter of authorization with the Government of Rwanda. Article 6 Authorized labeled carbon credits issued from the Rwanda cookstoves project will be net of the 12% volume reduction outlined in the Government of Rwanda LOA. Based upon on this, and assuming all carbon credits from the Rwanda cookstoves project were issued with an Article 6 Authorized label, a new and revised aggregate minimum of 6.6 million carbon credits would now be subject to the revenue sharing arrangement between BCCPC and DelAgua. As of October 2024, approximately 1.7 million Article 6 Authorized labeled carbon credits have been transferred to the Company.

Please refer to the cautionary statement regarding forward looking information in Base Carbon’s most recent MD&A and Annual Information Form, available on www.sedarplus.ca and basecarbon.com, as well as the cautionary statement in the Investor Presentation.