With this fund, the startup will be able to accelerate the development of its efficient cooking pan and inclusively empower restaurants & individuals to cook delicious meals faster while using 50% less gas!
According to NeoStove, traditional pans utilize only 25% of the heat from gas stoves, and the rest of the uncaptured heat ends up in the kitchen, making it an uncomfortably hot environment for the kitchen staff. Additionally, these inefficient pans cause high gas and energy bills to the restaurants while increasing the carbon footprint. To solve these issues and to cook more efficiently, NeoStove invented SpacePan – an efficient cooking pan that can revolutionize the way of cooking as it requires only half the gas to cook a meal.
More about Neostove’s journey to success can be found in this article.
Anyone wanting to try SpacePan can contact Surya directly here: suryaprakash@neostove.com.
About the Shell Impact Fund
The Shell Impact Fund supports social entrepreneurs who are committed to a more just and inclusive energy transition. A transition where cleaner energy and more sustainable forms of mobility are accessible to everyone. In addition to financial support, we also provide guidance, expertise, and access to our network and that of our operational partner, Unknown Group. Together, we strive to increase sustainable impact. It is an ongoing fund. The money available at launch will be invested in a selection of promising social enterprises, which we also call impact ventures.
The first investment aims to make the enterprise financially more robust, further develop their product or service, and increase their impact. The intention is that any follow-up investments, as the impact venture further develops, will flow back into the fund. This way, other social enterprises can benefit from the fund.
