Solid Biofuel fired Improved Cook Stoves (ICS) in the Domestic Sector

fossil fuel cookstove

By MD Duran on Unsplash

Solid Biofuel fired Improved Cook Stoves (ICS) in the Domestic Sector
SectorMost major industry classification systems use sources of revenue as their basis for classifying companies into specific sectors, subsectors and industries. In order to group like companies based on their sustainability-related risks and opportunities, SASB created the Sustainable Industry Classification System® (SICS®) and the classification of sectors, subsectors and industries in the SDG Investor Platform is based on SICS.
Renewable Resources and Alternative Energy
Alternative Energy
Business Model Description

Invest in or project financing for improved Biomass Energy Technologies (BETs) in the domestic sector for cooking applications (i.e. ICSs). The BETs in consideration are solid biofuel (Pellet, Chips, Charcoal) fired ICSs (direct combustion or gasification).

ICSs manufacturers: there are several ICS manufacturers, providing direct combustion and gasification technologies using wood cuts, pellets and charcoal (7). There are currently around 30 different ICS models, most of which are produced locally and use either charcoal, pellets fuel wood, or wood chips as fuel (8), though their performance characteristics are not established. Examples of Companies active in the IOA space:

Spectra Industries Lanka (Pvt) Ltd. Founded in 1983, manufactures small scale biomass energy conversion devices for thermal applications, including cook stoves and hot water boilers. Wood gasifier stove and pellet stove are among ICSs, of which the pellet stove is claimed to be 45% efficient, costing approximately USD 100/unit (8).

Innovative Cooking and Heating Technologies (Pvt) Ltd: This company in 2009 commercialized the EZ Turbo Charcoal Stove, an innovative design developed by them. It is equipped with a 12V DC power adaptor and a linear control fan. So far, around 100,000 units have been sold. The price of a unit is approximately USD 100 (10).

Burn Blast Stove: Marketed since 2018, this is an improved fuelwood and coconut shell rocket stove design developed in the country. The selling price of the stove is around USD 20 (35).

Janalipa Stove: Unveiled in 2022, this is an improved biomass stove that uses coconut shell charcoal, coconut shell, wood chips as fuel, and is equipped with a 12V DC power supply. The selling price of the stove is approximately USD 50/unit (12).

Expected Impact

Deployment of ICSs in households, utilizing renewable biofuels to replace imported fossils and conventional biomass, for energy security and environment sustainability

Indicative ReturnDescribes the rate of growth an investment is expected to generate within the IOA. The indicative return is identified for the IOA by establishing its Internal Rate of Return (IRR), Return of Investment (ROI) or Gross Profit Margin (GPM).
> 25% (in IRR)
Investment TimeframeDescribes the time period in which the IOA will pay-back the invested resources. The estimate is based on asset expected lifetime as the IOA will start generating accumulated positive cash-flows.
Short Term (0–5 years)
Market SizeDescribes the value of potential addressable market of the IOA. The market size is identified for the IOA by establishing the value in USD, identifying the Compound Annual Growth Rate (CAGR) or providing a numeric unit critical to the IOA.
< USD 50 million
Average Ticket Size (USD)Describes the USD amount for a typical investment required in the IOA.
< USD 500,000
Direct ImpactDescribes the primary SDG(s) the IOA addresses.
Affordable and Clean Energy (SDG 7)
Indirect ImpactDescribes the secondary SDG(s) the IOA addresses.
Climate Action (SDG 13) Industry, Innovation and Infrastructure (SDG 9) Responsible Consumption and Production (SDG 12)
Sector Sources
  • 1) Renewable Energy Resource Development Plan 2021-2026 (Draft) "2) National Energy Policy and Strategies of Sri Lanka (August 2019), Ministry of Power, Energy and Business Development, Government of Sri Lanka. Web link: " 3) ADB (July 2016), Sri Lanka: Gender Equality Diagnostic of Selected Sectors, Asian Development Bank (ADB) "4) WEF (April 2021), Fostering Effective Energy Transition 2021 edition, Insight Report, World Economic Forum (WEF). " 5) SLSEA (2021), Sri Lanka Energy Balance 2019, Sri Lanka Sustainable Energy Authority (SLSEA), 6) A. Wickramasinghe (2009), Gender and Energy in Sri Lanka: A Brief Analysis of the Situation. 7) Practical Action Consultancies, RE Practices in Sri Lanka - Domestic Stoves,!&&p=955332cd255eb126JmltdHM9MTY1OTkxNjgwMCZpZ3VpZD0yZGJmZjI1NC00ZjBmLTZiOTMtMjRiMS1mZGFjNGIwZjY1MmQmaW5zaWQ9NTEyMg&ptn=3&hsh=3&fclid=2dbff254-4f0f-6b93-24b1-fdac4b0f652d&u=a1aHR0cHM6Ly9hbnN3ZXJzLnByYWN0aWNhbGFjdGlvbi5vcmcvb3VyLXJlc291cmNlcy9kb3dubG9hZC81ODM5Mw&ntb=1 8) R. Mohideen (October, 2018), Energy Technology Innovation in South Asia -Implications for Gender Equality and Social Inclusion, ADB South Asia Working Paper Series No. 61, ISSN 2071-7202 (print), 2218-2675 (electronic), 9) Spectra Industries Lanka - Pvt Ltd, 10) Innovative Cooking and Heating Technologies (Pvt) Ltd, EZ Turbo Charcoal Stove, 11) Department of Census and Statistics (November 2017), Economic Census 2013/14, Final Report on InformalNon Agricultural Activities,
IOA Sources
  • 12) Janalipa stove, 13) Central Bank of Sri Lanka (August 2020), Economic & Social Statistics of Sri Lanka - 2020, 14) Amerasekera, R.M. (2014), Case Study - Sri Lanka "Anagi" Improved Cookstoves Commercialisation, 15) P.G. Joseph (January 2011), Market and Economic Study of the Biomass Energy Sector in Sri Lanka, United Nations Industrial Development Organization (UNIDO), 16) UNDP (2013), Promoting Sustainable Biomass Energy Production and Modern Bio-Energy Technologies. GEF Project Document, 17) N. Musafer, Biomass energy policy perspectives of Sri Lanka: A review, International Journal of Scientific and Research Publications, Volume 10, Issue 12, pp. 674-681, December 2020, ISSN 2250-3153 18) PISCES (June 2009), Policies and Regulations Affecting Biomass-Related Energy Sector Development in Sri Lanka, PISCES Policy Brief No. 3, 19) UNDP (October 2018), Model Fuelwood Plantations for Sustainable Energy Supply and Livelihood Development, ISBN 978-955-1476-24-3, file:///C:/Users/HP/Downloads/UNDPLKA_Biomass-Phase-I-Fuelwood-Plantation.pdf 20) UNDP (January 2018), Across the nation, Promoting sustainable biomass energy Production and Modern Bio-Energy Technologies. ISBN 978-955 1478-19-9 21) Jasinghe, A. (2022), A low-carbon industrial sector will pay dividends for Sri Lanka’s economy and the planet, 16.06.2022 Press and information team of the Delegation to Sri Lanka & Maldives, Opinion editorial, 22) A. Ethirajan (January 2022), How the soaring cost of living is hitting Sri Lankans hard, BBC News, Colombo, 23) M. Jayasinghe, E.A. Selvanathan, and S. Selvanathan (September 2021), Energy Poverty in Sri Lanka, Energy Economics, Volume 101, 105450. 24) UNIDO, Industrial Decarbonization Accelerator, Sri Lanka, 25) National Environment Action Plan (NEAP) 2022-2030 (July 2022), Ministry Environment, Government of Sri Lanka, ISBN 978-624-5817-24-5, 26) GoSL (September 2021), Updated Nationally Determined Contributions (NDCs), Government of Sri Lanka (GoSL), 27) WHO (2014), WHO Guidelines for indoor air quality: household fuel combustion, World Health Organization (WHO), ISBN 978 92 4 154887 8, 28) FAO in Sri Lanka (August 2018), From Impoverished to Empowered. Sri Lankan Women Adopt Modern Biomass Technologies, 29) IEA (2007), Good Practice Guidelines, Bioenergy Project Development & Biomass Supply, International Energy Agency (IEA), "30) SDC (December, 2021), Sri Lanka: Status of SDG Indicators and Baseline Data, Sustainable Development Council of Sri Lanka (SDC), December 2021, " 31) GoSL (2003), The National Climate Change Policy of Sri Lanka, Ministry of Environment and Natural Resources, The Government of Sri Lanka (GoSL), 32) GoSL (2008), National Environmental (Protection and Quality) Regulations, No. 1 of 2008, Ministry of Environment and Natural Resources, Government of Sri Lanka (GoSL), 33) Sri Lanka Sustainable Energy Authority (SLSEA) Act No. 35 of 2007, 34) CBSL (May 2022), Sri Lanka Green Finance Taxonomy, Central Bank of Sri Lanka (CBSL), 35) Burn Blast stove,