Roehl Niño Bautista · · 1 min read4 Indonesian clean energy firms get green funding
greeNew Energy Nexus (NEX), a nonprofit organization for climate tech, has invested an undisclosed sum in four early-stage clean energy startups in Indonesia as it sees opportunity for local players in the sector.
Its Indonesia 1 Fund has invested in energy efficiency firm SES, e-mobility startup Swap Energy, and renewable energy company Xurya. Meanwhile, IoT firm Powerchain was the latest recipient of NEX’s Smart Energy Grants.
Photo credit: 123rf
NEX is a global nonprofit organization that supports climate entrepreneurs by providing funds, accelerators, and networks to drive the adoption of climate tech.
“We are still heavily dependent on fossil fuels, but by empowering clean energy startups, we will be able to stimulate the investment climate, accelerate the clean energy transition, and create green jobs,” said Diyanto Imam, program director at NEX Indonesia.
The organization’s Indonesian arm has backed 16 local startups since its inception in 2019, Imam added.
Indonesia’s government is aiming for 23% of its energy production to come from renewable sources. It also has a renewable energy potential of 400,000 megawatts, with half coming from solar energy.
See also: Dutch startup plans to keep Southeast Asia afloat – literally
Editing by Deepti Sri and Lorenzo Kyle Subido
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