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Waste management start-up Waste4Change signs deals worth $16m
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A worker inspects maggots at Waste4Change's Bekasi material recovery facility (MRF) on Mar. 8, 2023. (The Jakarta Post/Deni Ghifari)
H
omegrown start-up Waste4Change signed seven business agreements worth a total of US$16.1 million on Wednesday, as more firms seek to take advantage of its waste management systems.
Waste4Change founder and CEO Mohamad Bijaksana “Sano” Junerosano said some of the deals were made on a project basis and the others would take the form of joint ventures or loans.
“They all basically want to [adopt] Waste4Change business in their places,” Sano said on Wednesday.
The agreements signed on Wednesday involved publicly listed cement firm PT Indocement Tunggal Prakarsa, publicly listed logistics and shipping company PT Samudera Indonesia, private developer Sinar Mas Land, Basra Corporation, waste start-up PT Alam Bersih Indonesia, United States-based Freepoint Commodities LLC and rePurpose Global.
Read also: Developing Indonesia’s circular economy from Bantar Gebang trash mountain
The company had managed to make a profit, Sano added, which was made possible by its three different business models consisting of consultancy, waste management services and informal sector development on waste.
The biggest income stream came from its waste management services, where it was paid to take garbage from both households and corporations operating in Indonesia, such as Swedish furniture store IKEA and Singaporean lender DBS, he said.
