To set up new waste management facilities in Indonesia, Circulate Capital led funding raised by Reciki
Reciki, an Indonesian waste management startup, has received secret funding from climate-tech fund Circulate Capital Ocean Fund (CCOF) and Danone AQUA, a drinking water packager.
Reciki’s financing is partially guaranteed by the United States International Development Finance Corporation (DFC) and the United States Agency for International Development (USAID) (USAID).
Reciki was founded in 2019 as a waste management solution tailored to the demands of Indonesian cities. Reciki’s material recovery facilities seek to attain a zero-waste-to-landfill goal (MRFs). It classifies garbage from homes and businesses and recovers recyclable materials, such as plastic, for use in the recycling value chain.
Reciki customises its approach to each city, developing specific sorting and delivery solutions that take into account characteristics such as waste categorisation, existing infrastructure, and household profiles. To accomplish effective waste stream management that advances plastics, it recovers and distributes practically all materials, including high-value plastics, low-value plastics, organic waste, and other recyclables.
The firm collaborates with local governments and now runs two MRFs in Lamongan (East Java) and Badung (West Java) (Bali).
Reciki intends to expand its operations across Indonesia with the additional finances, with the goal of processing more than 1,000 tonnes of garbage each day.
Currently, open burning is used to handle 36% of all plastic trash, accounting for 91% of the country’s total plastic waste carbon footprint.
The additional financing will also help Reciki grow its present capacity, averting 400,000 tonnes of plastic pollution leaks, eliminating over 700,000 tonnes of CO2 greenhouse gas emissions, and handling about 3 million tonnes of garbage over ten years, according to a press release.
Rob Kaplan, founder and CEO of Circulate Capital, said, “Reciki’s fit-for-purpose model, which allows for greater and faster processing of waste, has the potential to scale the recovery and recycling of plastics nationally significantly. In partnership with the Reciki team and Danone AQUA, we believe Reciki can put our capital to work and accelerate becoming a best-in-class solution provider for many cities across Indonesia.”
Bhima Aries Diyanto, CEO and founder, Reciki, said, “We believe our bespoke solution can transform Indonesia’s waste management industry, alleviate the country’s plastic pollution crisis, and deliver greater value from used materials in a way that empowers local communities to be part of the solution.”
