Waste4Change to offer up to 20% stake in push for expansion

Waste4Change, an Indonesia-based waste management startup, is offering a 10% to 20% stake in the company to support its expansion into the Global South.

CEO Mohamad Junerosano tells Tech in Asia that the startup is seeking either a local or international strategic investor with substantial waste management expertise.

Junerosano highlights that many countries in the Global South lack proper waste management systems, opening the door for the company to provide consulting services to clients in those regions.

Waste4Change CEO Mohamad Bijaksana Junerosano (left) and COO Ridho Malik Ibrahim / Photo credit: Waste4Change

Founded in 2014, Waste4Change helps clients build effective waste management systems through data- and survey-based consultations.

Junerosano explains that the company also conducts feasibility studies for waste-to-energy projects, which convert waste into usable energy like electricity or heat.

Beyond consulting, Waste4Change runs a recycling business that collects and processes plastic waste. It recycles these materials and generates plastic credits, which are sold to both local and international plastic producers seeking to offset their environmental impact.

Junerosano says that Waste4Change aims to boost its daily waste processing from around 100 tons to over 2,000 tons within the next three years. The company currently serves around 200 corporate clients in 20 locations across Indonesia and more than 18,000 households.

It also manages waste collection and processing for clients like Ikea, DBS, Danone, and Abbott.

Waste4Change raised a US$5 million series A round in 2022, which was co-led by AC Ventures and Barito Mitra Investama.

With over 270 million people, Indonesia faces Southeast Asia’s biggest waste management challenge, generating 175,000 tons of garbage daily. According to Junerosano, 60% of this goes to landfills, 30% is recycled, and 10% is unmanaged. This unprocessed garbage presents a major opportunity for waste management companies.

The Indonesian government estimates that there are about 241 companies operating in the country’s recycling business as of end-2023. These firms have a total annual capacity of 2.5 million tons.

See also: Indonesia’s ‘Uber for waste’ finds profits in garbage collection