WasteX Secures $450k to Expand Biochar Solution in Indonesia

Country: Indonesia
WasteX Secures $450k to Expand Biochar Solution in Indonesia
26 April 2024

WasteX, a climate tech startup operating in Indonesia and the Philippines, has secured a substantial US$450,000 investment from P4G Partnerships, a significant boost for sustainable farming practices and climate technology. Launched less than two years ago as part of a venture builder initiative, WasteX focuses on converting agricultural waste into biochar using proprietary, small-scale, semi-automated carbonizer technology. This biochar, a carbon-rich product, enhances soil fertility and sequesters carbon dioxide, thereby reducing greenhouse gas emissions.

WasteX's solution holds transformative potential for sustainable agriculture by empowering farmers, reducing emissions, and promoting sustainability. By significantly increasing agricultural yield while reducing reliance on chemical fertilizers, WasteX's technology promises to revolutionize agricultural practices. Moreover, the establishment of biochar production facilities across Indonesia reflects WasteX's commitment to sustainable agricultural innovations.

The investment from P4G Partnerships will facilitate the expansion of biochar production facilities across Indonesia in collaboration with local mills and poultry farms. This strategic move aims to empower more farmers with WasteX's sustainable solution, fostering a favorable regulatory and commercial environment for the adoption of this innovative technology.

According to WasteX's founder and CEO, Pawel Kuznicki, this investment underscores the potential of WasteX's technology to create a sustainable and profitable agricultural ecosystem. WasteX plans to scale its solution and further contribute to the global fight against climate change.

Key highlights from WasteX's journey include securing the US$450,000 investment, the development of proprietary technology for transforming farm waste into biochar, plans to establish biochar production facilities across Indonesia, and significant increases in crop yields and reductions in fertilizer use among partner farmers in the Philippines and Indonesia. WasteX also enables farmers to mitigate fertilizer price volatility and sell carbon credits through its app.

In the face of challenges such as volatile fertilizer prices and rising inflation in the global agricultural sector, WasteX's technology offers a timely solution for transitioning towards more sustainable and resilient farming practices. With support from P4G Partnerships, as well as other investors like Wavemaker Impact and Norinchukin Bank, WasteX is poised to make a significant impact in addressing climate and agricultural challenges.

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