APA Corporation Announces Partnership with Clean Cooking Alliance to Support Increased Access to Clean Cooking Fuels

Rhea-AI Summary

APA Corporation (Nasdaq: APA) has entered a multi-year partnership with the Clean Cooking Alliance (CCA) to enhance access to clean cooking solutions globally. This initiative aims to support early-stage entrepreneurs in the clean cooking sector through technical support, funding, and networking opportunities. The program, expected to launch by Q1 2023, aligns with the United Nations Sustainable Development Goal 7, focusing on affordable and sustainable energy access. The partnership highlights APA's commitment to social investment and addressing energy poverty for 2.4 billion people reliant on non-clean cooking methods.

Positive

• Formation of a multi-year partnership with CCA to support clean cooking initiatives.
• Investment in a clean cooking venture accelerator program aiding entrepreneurs.
• Alignment with the UN Sustainable Development Goal 7 for energy access.

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• None.

HOUSTON, Nov. 09, 2022 (GLOBE NEWSWIRE) -- APA Corporation (Nasdaq: APA) today announced a multi-year partnership with the Clean Cooking Alliance (CCA). A project of the United Nations Foundation, CCA is focused on building a dynamic, inclusive, and financially sustainable industry with the goal of achieving universal access to clean cooking by 2030. Access to clean cooking improves health, reduces climate and environmental impacts, empowers women, and improves overall livelihoods. It is also an integral part of meeting the United Nations Sustainable Development Goal (UNSDG) 7, which is focused on “access to affordable, reliable, sustainable and modern energy for all.”

“We are excited to partner with the Clean Cooking Alliance to support their efforts to expand access to clean cooking fuels and technologies,” said John J. Christmann IV, APA CEO and president. “Universal access to clean cooking for billions of people around the world is a major and complex undertaking that requires the kind of expertise and network that CCA brings to the table. This partnership and program align with our social investment strategy and underscore our commitment to expanding access to energy for communities suffering from energy poverty.”

Today, 2.4 billion people around the world depend on stoves and fuels such as wood and charcoal to cook. With APA’s financial support, CCA will facilitate a clean cooking venture accelerator program that will help early-stage entrepreneurs in the clean cooking sector by providing access to technical support, funding and external networks to expand their businesses. This will ultimately help drive a sustainable market for clean cooking solutions, including clean-burning liquified petroleum gas (LPG).

“Access to financing is one of the biggest challenges faced by entrepreneurs and businesses working on clean cooking,” said Dymphna van der Lans, Clean Cooking Alliance CEO. “Through this partnership with APA, we will be able to better support the many emerging and diverse founders that have the potential to significantly drive scale and innovation in the clean cooking sector.”

The program will complement CCA’s current venture and market building initiatives and will support early-stage entrepreneurs working to increase access to clean cooking. It will be open to clean cooking distributors and manufacturers at early stages of growth. It includes 12 to 14 weeks of core modules, such as industry and venture fundamentals, pitch day coaching, and possible entry to a CCA venture catalyst program. It is expected to launch by the end of the first quarter of 2023.

About APA

APA Corporation owns consolidated subsidiaries that explore for and produce oil and natural gas in the United States, Egypt and the United Kingdom and that explore for oil and natural gas offshore Suriname and in the Dominican Republic. Apache Corporation is a direct, wholly owned subsidiary of APA Corporation. APA posts announcements, operational updates, investor information and press releases on its website, www.apacorp.com. Additional details regarding Suriname, ESG performance and other investor-related topics are posted at investor.apacorp.com.

Contacts

Media:  (713) 296-7276   Alexandra Franceschi                        
Website:   www.apacorp.com

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FAQ

What is the purpose of APA Corporation's partnership with Clean Cooking Alliance?

The partnership aims to support early-stage entrepreneurs in the clean cooking sector, enhancing access to clean cooking solutions globally.

When is the clean cooking venture accelerator program expected to launch?

The program is expected to launch by the end of the first quarter of 2023.

How many people rely on non-clean cooking methods that this initiative aims to help?

The initiative aims to help 2.4 billion people who currently depend on traditional stoves and fuels.

What does the partnership with CCA have to do with UN Sustainable Development Goals?

The partnership supports Goal 7, which focuses on ensuring access to affordable and sustainable energy for all.