Wednesday, April 17, 2024
HomeFunding Singapore-Based WasteX Secures $450,000 in Funding

[Funding Alert] Singapore-Based WasteX Secures $450,000 in Funding

WasteX is a Singapore-based climate tech company with operations in Indonesia and the Philippines. P4G Partnerships, a program that supports companies developing climate mitigation and adaptation solutions in the food, water, and energy sectors, has awarded $450,000 in grants.

WasteX is a Singapore-based climate tech company with operations in Indonesia and the Philippines. P4G Partnerships, a program that supports companies developing climate mitigation and adaptation solutions in the food, water, and energy sectors, has awarded $450,000 in grants.

In addition, a series of successful biochar implementations and semi-automated biochar equipment have allowed the company to make an impact on its clients. WasteX said in a statement on Wednesday that this financing is crucial in furthering its mission to help farmers solve agricultural waste issues, improve their income, and reduce carbon emissions. The P4G funding was awarded to the WasteX-Bina Tani partnership.

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In order to reach more farmers and broaden the biochar solution, WasteX intends to use the funds to collaborate with nearby mills and poultry farms to build manufacturing facilities in key Indonesian regions.

In the future, the company is still totally committed to making the most of the P4G money in order to build a strong network of biochar plants all over Indonesia.

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Concurrently, the business is in active talks with a number of prospective partners in Southeast Asia who are looking into ways to incorporate WasteX’s biochar solutions into their operations.

WasteX wants to conduct an equity funding round in the second half of 2024 to support these growth objectives, further establishing the company as a leader in the biochar revolution and enabling a more sustainable future for Southeast Asian agriculture.

“The P4G Partnership not only provides substantial capital for an early-stage climate-tech startup but also requires and greatly supports the partnership to engage with national policy-making and market development.” Pawel Kuznicki, founder and chief executive officer at WasteX.

A climate tech business called WasteX offers farms and agricultural producers an end-to-end solution that helps them make the most of biomass waste by turning it into biochar, which they can then use in their operations to improve efficiency, save costs, and protect the environment.

The mills supply the biomass that is turned into biochar, and the company finances, develops, and runs the facilities.

A substantial amount of the biochar will be given away at no cost to nearby farmers, coupled with educational initiatives aimed at providing farmers with the know-how and abilities needed to successfully incorporate biochar into their farming operations.

The company wants to encourage widespread adoption of sustainable technology by making biochar easily accessible and showcasing its efficacy.

About WasteX

WasteX is a Singapore-based climate tech company with operations in Indonesia and the Philippines. They assist their clients in making use of biomass waste to create extra revenue and lessen their carbon footprint.

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