WasteX Obtains IDR 7 Billion in Funding from P4G Partnerships

Startups climatetech WasteX received funding of $450 thousand (around Rp. 7,1 billion) from P4G Partnerships, an initiative that focuses on climate mitigation and adaptation solutions in the food, water and energy sectors.

This funding will be used to develop and operate biochar production facilities in various strategic locations in Indonesia through the WasteX-Bina Tani Partnership at rice, corn, wood and chicken processing facilities. Meanwhile, its partners will supply biomass (organic waste) which will be used as raw material for biochar production.

WasteX only has two biochar production facilities, namely located in Tarlac, Philippines (2023), and Pasuruan, Indonesia (2024). Currently, WasteX is producing carbonizer for various local and international clients.

WasteX Founder and CEO Pawel Kuznicki said, "This is the most effective catalytic funding available, considering that P4G not only provides enough capital for startups climatetech, but also fully supports recipients funding to be involved in the process of national policy making and market development. The goal is to foster market and regulatory conditions that support the growth and adoption of innovation."

WasteX is Wavemaker Impact's first portfolio (WMi), venture builder which focuses on Wavemaker Partners' impact solutions. WasteX now operates in Indonesia and the Philippines. Its mission is to support farmers in utilizing agricultural waste into value-added products (biochar), increasing income and reducing carbon emissions.

It is hoped that the use of biochar can reduce dependence on fertilizer, the price of which is skyrocketing amidst conditions of decreasing crop yields. Biochar is believed to help plants grow more fertile and strong.

Meanwhile, WasteX is developing a solution to facilitate the use of biochar in the agricultural world by utilizing it carbonizer, mobile applications, to carbon credit incentives for farmers. The technology developed by WasteX relies on machines carbonizer small scale semi-automatic equipped with burner dual fuel.

His party said they had conducted trials using biochar on corn plants. The claim is that biochar has increased crop yields by 95% and reduced fertilizer use by up to 50% compared to without using biochar. In rice trials, the team claims to have increased yields by 38% and fertilizer use by 25%-50%.

"Small and medium scale companies are engines of economic growth that need catalytic capital to overcome the risk of business failure/bankruptcy. We are committed to supporting businesses like WasteX which have a long-term positive impact on small farmers and contribute to increasing food security and reducing carbon emissions," said Robyn McGuckin, Executive Director of P4G in her official statement.