Singapore’s WasteX Partners with P4G to Spearhead Biochar Production Across Indonesia

The climate tech startup WasteX, headquartered in Singapore with operations in Indonesia and the Philippines, has secured $450,000 in funding from impact fund P4G Partnerships. This funding round was achieved within less than two years since WasteX, known for its expertise in transforming agricultural waste into biochar, was established by venture builder Wavemaker Impact.

WasteX aims to assist farms and agricultural producers in repurposing biomass waste by transforming it into biochar, a valuable carbon-rich material. P4G Partnerships, an initiative supporting businesses focused on climate mitigation and adaptation solutions in the food, water, and energy sectors, recognized WasteX’s potential and awarded the funding to further its mission.

With the newly acquired funding, WasteX intends to establish biochar production facilities across Indonesia, partnering with local mills and poultry farms. WasteX’s CEO, Pawel Kuznicki, spoke about the new endeavor, stating that it necessitates active engagement with national policy-making and market development to create a conducive regulatory and commercial environment supporting innovation adoption.

The company’s strategy involves investing in, developing, and operating production facilities in collaboration with local partners, utilizing biomass sourced from mills to produce biochar. Moreover, the climate tech startup plans to distribute a considerable portion of the biochar to local farmers free of charge, accompanied by training programs to equip them with the necessary knowledge and skills to integrate biochar into their agricultural practices effectively.

WasteX provides a comprehensive solution for farmers, allowing them to convert biomass into biochar using its proprietary, small-scale, and semiautomated carbonizer. Unlike conventional equipment that relies solely on electricity, WasteX’s carbonized operation uses biomass fuel and captures gas from the burning process, offering a more sustainable and eco-friendly solution. 

This technology has yielded impressive results, with partner corn farmers in the Philippines and Indonesia experiencing a remarkable 95% increase in yield and a 50% reduction in fertilizer use. Additionally, farmers have the opportunity to generate revenue by selling carbon credits through the WasteX app, as the equipment contributes to emission reduction efforts.

Robyn McGuckin, Executive Director at 7 P4G, highlighted WasteX’s role in supporting small and medium enterprises, emphasizing the importance of catalytic capital in overcoming financial challenges. 

WasteX’s initiatives deliver tangible benefits to smallholder farmers and align with Indonesia’s priorities of enhancing food security and reducing emissions. Looking ahead, the climate tech focused company remains dedicated to maximizing the impact of the P4G funding by expanding its network of biochar plants throughout Indonesia. 

Additionally, the company is actively engaging with potential partners across Southeast Asia to integrate its biochar solutions into its operations, paving the way for a more sustainable future in agriculture across the region. 

WasteX plans to initiate an equity funding round in the latter half of 2024 to further support its growth objectives, which aim to create a more environmentally sustainable agricultural landscape in Southeast Asia.

WasteX, supported by grants from Wavemaker Impact and P4G, funded by the Danish, Dutch, and South Korean governments, has a diverse investor portfolio, including Tokyo-based Norinchukin Bank. 

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