- Octayne raises $525K pre-seed to convert agricultural waste into energy.
- The startup aims to reduce Southeast Asia’s reliance on coal.
- Octayne will use the funds for pilot projects and product development.
Turning trash into treasure
Octayne, a startup that transforms farm waste into energy, has recently raised $525,000 in a pre-seed funding round led by Wavemaker Impact.
The company plans to initially target Indonesia, Thailand, and Vietnam before expanding across Southeast Asia.
Southeast Asia generates an estimated 400M tons of post-harvest crop residue, which is often burned, resulting in cities being engulfed in choking haze.
Octayne aims to address this issue by converting this rarely used biowaste into a low-cost, renewable, and sustainable energy source.
Planting the seeds of success
Octayne’s solution is easily scalable and carbon-neutral, serving as an alternative source of renewable energy while solar and wind energy have yet to gain mainstream adoption.
The company’s goal is to eliminate coal dependency in Southeast Asia without compromising the region’s development ambitions and encourage the adoption of alternative fuels into existing infrastructure.
With the newly raised funds, Octayne will execute pilot projects and develop its technical product and platform.
Octayne is also actively hiring professionals from the green energy and industrial space to support its growth and mission.
