WasteX, a Singapore-based climate tech company operating in Indonesia and the Philippines, has secured $450,000 in funds from P4G Partnerships, an initiative that helps businesses working on climate mitigation and adaptation solutions in food, water, and energy.

WasteX said in a statement on Wednesday that this financing is pivotal in advancing its mission to help farmers solve agricultural waste issues, improve their income, and reduce carbon emissions.

In addition, a string of successful biochar implementations and semi-automated biochar equipment has allowed the company to make an impact on its clients.

The P4G funding was awarded to the WasteX-Bina Tani partnership.

To expand the biochar solution further and reach more farmers, WasteX plans to leverage the funding to establish production facilities in strategic locations throughout Indonesia by partnering with local mills and poultry farms.

Looking ahead, the firm remains laser-focused on maximizing the impact of the P4G funding to establish a robust network of biochar facilities across Indonesia.

Simultaneously, the company is actively engaged in discussions with numerous potential partners throughout Southeast Asia that are exploring opportunities to integrate WasteX’s biochar solutions into their operations.

To propel these growth plans, WasteX anticipates an equity fundraising round in the second half of 2024, further solidifying its position as a frontrunner in the biochar revolution and empowering a more sustainable future for Southeast Asian agriculture.

“The P4G Partnership not only provides substantial capital for an early stage climate-tech startup but requires and greatly supports the partnership to engage with national policy-making and market development,” said Pawel Kuznicki, Founder and Chief Executive Officer at WasteX.

According to him, the objective is to facilitate the development of a favorable regulatory and commercial environment that would support the growth and adoption of the innovation.

“Together with Bina Tani and the P4G Partnership, we want as many farmers and agricultural producers as possible to reap the benefits of biochar,” he added.

Robyn McGuckin, Executive Director at P4G, said that small and medium enterprises are engines of growth for many economies and need catalytic capital to overcome the valley of death.

“P4G is committed to supporting innovative climate solutions like WasteX that deliver not only long-term positive impact to smallholder farmers but also do so in a way that contributes to Indonesia’s priorities around enhancing food security and reducing emissions,

“We look forward to helping WasteX attract the investment it needs to scale in Indonesia and beyond,” he added.

WasteX is a climate tech startup that provides an end-to-end solution to farms and agricultural producers, helping them utilize biomass waste by converting it into biochar and then applying it in their operations for operational, financial, and environmental benefits.

The firm invests, develops, and operates the facilities while the mills provide biomass that is converted into biochar.

A significant portion of the biochar will be distributed for free to local farmers, alongside training programs to equip farmers with the knowledge and skills necessary to effectively integrate biochar into their agricultural practices.

By making biochar readily available and demonstrating its effectiveness, the company aims to foster widespread adoption of the sustainable technology.

Recently, WasteX has successfully deployed two biochar facilities.

The first was at a rice mill in Tarlac, Philippines in November 2023.

Biochar produced at the facility will be distributed and applied to the farms within the mill’s extensive network in the next planting cycle, to support local rice production and foster long-term sustainability by encouraging younger generations to embrace the agricultural sector.

Meanwhile, in Indonesia, WasteX has partnered with a corn mill in Pasuruan, East Java, to develop a larger-scale biochar facility with the production launched in February 2024.

Currently the company is manufacturing its equipment for multiple local and international clients as well as continues developing more partner facilities in Indonesia.

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