Koko Networks assets put up for sale following collapse
In Kenya, Launchbase Africa reports administrators for clean cooking company Koko Networks have launched a formal sale process for its ethanol cooking technology, intellectual property, manufacturing plant in India, and fuel distribution platform, seeking buyers capable of completing a deal worth more than $15 million. The sale follows the company’s collapse after Kenyan authorities withheld authorization needed to monetize carbon credits, undermining its business model. Koko, which invested about $300 million to build a bioethanol cooking network serving 1.5 million households, is now being liquidated, with proceeds expected to go first to secured creditors rather than employees or other unsecured claimants.
Category: Fuels
