Octayne Green Fuels (Octayne), a Singapore-based farm-waste to energy venture, received a $525,000 pre-seed investment from Wavemaker Impact to accelerate its mission of tapping Southeast Asia vast agricultural sector for primary feedstock to create carbon-neutral fuel alternatives for energy production.
The company claimed it will use this financing to run pilot projects, enhance its technological product and platform, and hire a green energy and industrial project team. SEA’s energy market is booming. Regional economies are speeding up the value chain.
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However, lack of finance and incentives has limited the widespread adoption of green energy solutions like solar and wind power, with coal driving Southeast Asia’s growth.
As energy companies maintain and increase coal-based capacity after 2030, this trend is projected to continue.
Octayne believes it can offer this industry a low-cost, scalable, carbon-neutral alternative fuel that can replace coal with minimal technical and logistical disturbance.
The region’s enormous agricultural industry generates approximately 400 million tonnes of post-harvest crop residue, which the company will use to turn biowaste into a renewable and sustainable fuel.
Octayne also hopes to reduce crop residue burning, which has caused stifling haze in local cities, by promoting knowledge of sustainable farm waste management techniques.
Sustainability fuel companies often struggle due to high production facility costs and the dominance of international and state-owned oil giants in the region.
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Octayne believes a decentralised, low-cost, low-footprint operational approach that is easily scalable in remote areas with weak logistical infrastructure can solve this.
The company claimed it will collaborate with the region’s energy titans to develop a stable supply chain model to assist them reach their long-term sustainability goals without straining their wallets.
Octayne’s unique product turns underutilised waste biomass into a low-cost, scalable coal alternative. The corporation prioritises net zero to reduce coal dependency in SEA without hurting development and encourage alternative fuels in existing infrastructure.
About Octayne
Octayne makes farm-waste a sustainable and affordable thermal power plant fuel and coal substitute.
