New Energy Nexus Funds 4 Indonesian Renewable Energy Startups

The global non-profit organization New Energy Nexus Indonesia announced that it had distributed funding to four startups during the first half of 2021 through the Indonesia 1 Fund. Fund which was launched last year is directed to support renewable energy startups that are still in their early stages, from the seed up to series A.

For every funding, Indonesia 1 Fund performs co-invest with various parties for more funds to support renewable energy startups. Among them with Nexus for Development for funding named Sumba Sustainable Solutions (3S); with Schneider Electric Energy Access Asia and Crevisse Partners Co. Ltd. for Xurya. Two other startups that received funding from the Indonesia 1 Fund are: SolarKita and Right People Renewable Energy (RPRE).

Previously mentioned, in the round fund In this case, Nexus will invest in 10-15 startups. There are 10 focus areas targeted, including: renewable energy, smart grid, energy efficiency, energy management, customer experience, e-mobility, business model innovation, Internet of Things (IoT) & digitization, as well energy access & energy storage. BLUE is the first startup who receive investment from fund this in October 2020.

In an official statement, Schneider Electric Energy Access President Gilles Vermot Desroches expressed his pleasure to be involved in supporting Xurya to accelerate the process of commercial adoption of solar energy through their investment. "By collaborating with New Energy Nexus and Crevisse Partners in supporting startup growth through co-investment, we are also contributing to SDG7," he said, Monday (12/7).

CFO of New Energy Nexus Christina Borsum added that collaboration with co-investors is expected to trigger a signal to other investors that renewable energy is Indonesia's future. "We hope we can channel more into renewable energy startups this year, including those in electric vehicles, energy management, energy efficiency technology, and business model innovation."

He continued, “We have channeled investments into 5 startups since the end of last year. The investments we make complement each other, each startup we support serves a different market segmentation, so collectively, their growth represents a market opportunity that is still growing in Indonesia.”

New Energy Nexus Indonesia has supported more than 45 startups in the renewable energy sector through the Smart Energy Incubation and Acceleration program that focuses on: Renewable Energy, Smart Grid, Energy Efficiency, Energy Management, Customer Experience, E-Mobility, Business Model Innovation, IOT & Digitization, Energy Accessand energy storage.

To date, at least 11 renewable energy startups have received funding in the form of investments and grants.

As part of New Energy Nexus Global, New Energy Nexus Indonesia opens pintuto renewable energy startups in Indonesia since 2018. They create incubation and acceleration programs to provide training, mentoring, and other business support to help startups sharpen and validate their business plans and models.

Startups who are members of the New Energy Nexus program, after fulfilling certain conditions, have the opportunity to access two types of funding: incubation grant funds and investment funding through the Indonesia 1 Fund. Registration New Energy Nexus incubation and acceleration program is open at any time for startups in the renewable energy sector in Indonesia.