Green Earth officially launches the Sauki Cookstove Project in Nigeria

Green Earth Group N.V. (“Green Earth” or “the Group”) (Euronext: EARTH: NL0009169515), a leading developer of end-to-end nature-based solutions, in partnership with Roshan Renewable Technologies Ltd, has officially launched the Green Earth Sauki Cookstove Nigeria Project (“Sauki Project”). This large-scale clean cooking initiative will distribute 326,000 high-efficiency cookstoves to rural households across Niger and Nasarawa States, aiming to deliver verified carbon reductions, reduce deforestation, and improve health and living conditions for local communities.

Key highlights

• Project scope: With a target of 326,000 stoves, the Sauki Project stands as one of the most ambitious clean-cooking interventions in Nigeria to date. By equipping rural households with energy-efficient cookstoves, the initiative reduces carbon emissions and firewood dependency to relieve pressure on local forests. In addition to its environmental benefits, the project improves indoor air quality, advances public health, saves time and labour—particularly for women—and strengthens household economic resilience. Fully aligned with Nigeria’s national clean-cooking strategy and climate objectives, the Sauki Project sets a new standard for scalable, community-led environmental solutions.

• Expected carbon units: The Sauki Project is designed to generate high-integrity carbon units under the latest Gold Standard methodology: Technologies and Practices to Displace Decentralized Thermal Energy Consumption. With the initial rollout already underway, the first issuance of carbon units is expected to begin in 2026, with forecasted scaling across multiple regions thereafter. Each cookstove is estimated to reduce emissions by 1.42 tCO₂ per year, leading to an overall reduction potential of over 463,000 tCO₂ per year once all stoves are distributed and in use.

• Production capacity: Roshan Renewable Technologies, the local implementation partner, is scaling manufacturing and distribution capacity to meet demand across Nigeria. The project is expected to deliver over 100,000 stoves within the first two years, with production expected to reach several thousand units per month, to achieve a total target of 326,000 cookstoves over the project’s lifetime.

• Letter of Authorisation pathway: Nigeria is in the process of finalising its national carbon market framework under Article 6.2 of the Paris Agreement. Green Earth and Roshan Renewable Technologies are preparing documentation to obtain a Letter of Authorisation (LoA) from the Nigerian government once the process opens. The LoA will enable the international trading of carbon units, boosting project value and unlocking premium markets for carbon buyers.

• Forward sales opportunities: Green Earth is currently in discussions with institutional buyers for forward sales of carbon units at attractive entry-stage terms. Early-stage units will be offered at a discount, with expected price appreciation upon verification and issuance, especially as global demand for clean-cooking carbon units continues to rise.

“This is more than just a cookstove project. It’s the result of vision, discipline, and collaboration—a testament to what’s possible when we engineer solutions that serve both people and the planet. The Sauki Project is about impact you can measure and lives you can change.” – Theo Aganor, Project Manager

“We are delighted to launch this cookstove project in Nigeria. It’s a great opportunity to deliver impact at a real scale—reducing emissions, easing pressure on forests, and improving daily life for thousands of people, especially women. By producing the cookstoves locally, we are creating jobs and building skills in Nigeria. This project shows how Green Earth can combine social and environmental results with lasting benefits for communities and investors alike.” – Nicholas Wall, Head of New Projects

Following the successful issuance and revenue generation from the Hongera Energy Efficient Cookstove Project, Green Earth’s launch of the Sauki Project underscores its commitment to developing scalable, socially inclusive carbon projects that deliver value for communities, governments, and investors. The project marks a significant milestone in Green Earth’s expansion of clean-cooking programmes across sub-Saharan Africa.

Upon issuance of the first batch of carbon units, the Sauki Project will qualify as an income-generating asset on Green Earth’s balance sheet, with significant upside in both NAV per share and carbon yield potential. Early-stage progress de-risks the project and paves the way for rapid scalability and investor visibility.

Contact for press enquiries

For more information about Green Earth's initiatives, please contact:

GREEN EARTH GROUP NV
press@green.earth
+31320788118

Or visit our website: https://www.green.earth/

Disclaimer

This press release does not contain an (invitation to make an) offer to buy or sell or otherwise acquire or subscribe to shares in Green Earth and is not an advice or recommendation to take or refrain from taking any action. This press release contains statements that could be construed as forward-looking statements, including about the financial position of Green Earth, the results it achieved and the business(es) it runs. Forward-looking statements are all statements that do not relate to historical facts. These statements are based on information currently available and forecasts and estimates made by Green Earth’s management. Although Green Earth believes that these statements are based on reasonable assumptions, it cannot guarantee that the ultimate results will not differ materially from those statements that could be construed as forward-looking statements. Factors that may lead to or contribute to differences in current expectations include, but are not limited to: developments in legislation, technology, tax, regulation, stock market price fluctuations, legal proceedings, regulatory investigations, competitive relationships and general economic conditions. These and other factors, risks and uncertainties that may affect any forward-looking statement or the actual results of Green Earth are discussed in the annual report. The forward-looking statements in this document speak only as of the date of this document. Subject to any legal obligation, Green Earth assumes no obligation or responsibility to update the forward-looking statements contained in this document, whether related to new information, future events or otherwise. The provision of Green Earth’s services and products is subject to its General Terms and Conditions.