WasteX, a company that helps agricultural producers in Southeast Asia turn biomass waste into higher-value goods, witnessed the first business launch out of its programme with Wavemaker Impact, a Singapore-based venture builder for climate technology.
According to a release, Wavemaker made a $525,000 first investment in the project.
With regard to technology selection, deployment, operational assistance, and carbon credit certification features, WasteX wants to provide agricultural producers an end-to-end solution. Additionally, the solution will aid in the promotion of these “higher-value” goods, such as biochar and black army flies.
The business has already conducted trial operations with independent mills, animal farms, and integrated agricultural corporations across Southeast Asia. WasteX intends to digitise its solution in the future and expand its product, engineering, and business development teams with additional recruits.
WasteX was established by Pawel Kuznicki following a four-month venture development process at Wavemaker Impact. Before settling on biomass waste conversion, the team considered many alternatives regarding Southeast Asia’s biggest sources of greenhouse gas emissions.
The business claims that its goods may cut greenhouse gas emissions by up to 700 million metric tonnes and have a potential market of around US$150 billion in gross merchandise volume.