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Mawgan Capital Strikes US$200 Million Digital Carbon Asset Deal with ATEC Global, Setting Irrefutable Benchmark in Data Integrity

 

  • Long-Term Commitment: Mawgan Capital targets high-integrity carbon credits in Africa to mitigate buyer risk and drive structural change in carbon markets.

  • Digital Asset Proof: Partnership with ATEC Global mandates 100% Digital Monitoring, Reporting, and Verification (dMRV), establishing an irrefutable carbon data set for each credit claimed.

  • Social Impact: Scaling smart cookstove rollout in African households reduces deadly air pollution, financially empowers families, and benefits women and girls.

 

[LONDON] – [December 2, 2025] – Mawgan Capital, a global trading and risk management company, has entered a landmark agreement with ATEC Global, the world’s leading developer of 100% digitally-verified cookstoves. The partnership establishes a new model for global carbon markets by positioning data quality and integrity as a central measure of credit quality. This ensures the next generation of digital carbon assets provides the level of trust institutional investors demand.

 

Under the agreement, Mawgan Capital will purchase US$200 million of high-integrity carbon credits generated by ATEC’s African IoT-enabled electric cookstove projects. Mawgan Capital is implementing 100% digital proof (dMRV) as the absolute standard. This improves on analogue verification systems to deliver the transparency and trust expected from responsible stewards of capital.

 

Mawgan Capital’s financial rigour and ATEC's industry-leading technology deliver audit-level performance certainty, addressing the reputational risk that previously deterred large-scale investment in climate finance. Mawgan Capital is applying the institutional-grade governance frameworks of financial markets to carbon assets, ensuring they are secure and trusted. The carbon market has historically faced challenges stemming from reliance on statistical sampling and analogue verification processes. This led to unavoidable gaps in fidelity and an erosion of investor trust. Addressing these foundational issues unlocks the institutional capital required to accelerate true decarbonisation.

 

The collaboration provides industrial-scale supply certainty while also driving transformative community impact. Projects provide the irrefutable data required to meet the highest bar for financial markets, as well as corporate responsibility and ESG reporting. ATEC's 100% IoT data infrastructure demonstrates how the sector can move beyond estimates and inferences by providing precise, real-time measurement of energy usage and emissions avoidance for each stove. Carbon credits are recorded on blockchain ledgers and proceeds provide an income stream for the household that created them.

 

David Tucker, CEO and Founding Partner, Mawgan Capital said: “A core tenet of global financial and commodity markets is that meaningful scale is only possible when trust is firmly established. Our commitment is to expand high-integrity climate solutions by strengthening that trust. We are thrilled to partner with ATEC Global, a pioneering leader in clean cooking whose technology is already relied upon by rigorous public and private sector partners.”

 

Ben Jeffreys, ATEC CEO and Co-Founder said: “Trust and transparency at the core of everything we do and this partnership with Mawgan Capital reflects those values. We built our technology because we believe irrefutable data is the asset, and now Mawgan Capital is validating that vision. We are proud to see our model setting a new benchmark for trust in carbon markets, so we can scale clean cooking solutions across Africa.”

 

About clean cooking

 

Replacing polluting fuels with clean energy in cooking can deliver multi-million-tonne emissions reductions and save lives. Today, one-third of the world still cooks with wood, charcoal, or other dirty fuels. This causes 3.2 million premature deaths each year, mostly among women and children. Such practices also emit 1 gigaton of CO2 annually, which is more than the global airline industry. To date, ATEC has distributed over 25,000 clean cooking appliances across the Global South.Notes to editors

About Mawgan Capital

 

Mawgan Capital is a global trading and risk management company focused on the intersection of carbon, data and commodity markets. Mawgan Capital was founded by industry leaders with diverse domain expertise across environmental markets, energy, policy, and technology. Mawgan Capital operates out of London, New York, and Singapore.For more information, visit www.mawgancapital.com or contact info@mawgancapital.com

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About ATEC

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ATEC is a global leader in IoT-enabled electric stoves which connect households to global carbon markets. Founded in Cambodia in 2016, ATEC developed the world’s first PAYG-enabled cookstove product in 2018, followed by the first IoT-enabled smart stove in 2020. ATEC currently distributes its products in 10 countries across Asia and Africa, with the goal of bringing the benefits of electric cooking and carbon markets to all women in the Global South.For more information, visit www.atecglobal.io or contact media@atecglobal.io

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