Refy, empower sustainable developers by providing tailored project financing solutions has received $525k funding in Pre-Seed round from Wavemaker Impact (WMi), the first VC backed climate venture builder in SouthEast Asia.
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With the help of this capital, startup will be able to build its technical platform, carry out secured pilot projects, and put together a professional staff with knowledge of industrial projects and green assets.
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“Greenhouse gas emissions from Asia’s emerging market and developing economies today are approximately 5 Gigatonne CO2 equivalent (GtCO2e). Refy’s mission to catalyse the deployment of green assets that yield both operational improvements and decarbonisation outcomes is much-needed, especially within hard-to-abate industry sectors,” said Steve Melhuish, Founding Partner at Wavemaker Impact.
“Tackling climate change requires action that goes beyond rhetoric, and this support ensures that no worthy green project goes undeveloped due to financial constraints,” said Ed Chin, Chief Executive Officer and Founder of Refy.
About Refy
Refy aims to de-risk these smaller green assets for investors, while also helping developers to grow by solving the most pressing pain points experienced in obtaining financing for these projects. Leveraging an innovative Asset-as-a-Service model, it is enabling developers to build, own, and manage a diverse portfolio of green assets, with a primary emphasis on small to mid-scale projects ($500k-$15m) in the APAC market.
