JAKARTA, 9 September 2024 — East Ventures and Temasek Foundation are proud to conclude the Climate Impact Innovations Challenge (CIIC) 2024, Indonesia’s largest climate tech innovations competition. This program was a culmination of an inspiring journey that began on 4 March 2024 and was concluded with a Grand Finale on 6 September 2024 held as the thematic session of the prestigious Indonesia International Sustainability Forum (ISF) 2024 at Jakarta Convention Center.Launched with the aim of nurturing groundbreaking climate innovations to be piloted in Indonesia, the challenge focused on three critical tracks: Energy Transition, Sustainable Agriculture, and Circular Economy. Each of these tracks plays a pivotal role in driving the global shift towards sustainable and climate-resilient practices.This year, CIIC 2024 saw an overwhelming interest from innovators around the world, attracting over 500 applicants from 50 countries. The nine finalists from seven different countries were selected from a highly competitive pool of innovators, and they have spent the past several months under the mentorship of industry leaders, refining their projects and scaling their potential to create lasting positive effects on the environment.“We are glad to once again present Climate Impact Innovations Challenge 2024 to empower more innovations in addressing one of the most critical issues of our time: climate change. We are grateful to continue this impact creation journey with Temasek Foundation, as well as, all of the supporting partners. Sustainability and creating intended positive impacts have always been part of East Ventures’ DNA; we are dedicated to playing our part in initiatives that will forge a productive and healthy Southeast Asia for today, tomorrow, and generations to come,” said Avina Sugiarto, Partner at East Ventures.
After intense and careful deliberation, five judges in the finale panel, including prominent investors and industry leaders, selected three winners who were awarded a total of Rp10 billion and other exclusive support.The three winners of the Climate Impact Innovations Challenge 2024 are:
SunGreenH2, as the winner of the Energy Transition track, with the main innovation of offering 200% hydrogen production with 20% higher energy-efficient electrolyzer with landed cost of hydrogen at US$3/kg. Hydrogen Refinery, as the winner in the Sustainable Agriculture track, with the main innovation of low-cost production of ammonia-based fertilizers via plasma electrolysis of waste to reduce up to 11 tons of GHG emissions per ton of fertilizer. AC Biode, as the winner in the Circular Economy track, with the offering of scalable chemolysis of mixed organic waste to produce syngas for green energy generation.
Additionally, Bakti Barito Foundation selected DayaTani to receive US$50,000 in investment, and Sinarmas Agribusiness & Food awarded ENWISE a cash prize of US$50,000.“It is extremely encouraging that the continued success of Climate Impact Innovations Challenge 2024 has served as a catalyst for energizing the startup ecosystem towards a sustainable and resilient future,” said Heng Li Lang, Head of Climate and Liveability at Temasek Foundation. “Temasek Foundation is delighted to partner with East Ventures once again – it has been instrumental in supporting great innovators and entrepreneurs on this impactful journey. Looking ahead, we look forward to having more like-minded partners on board to scale meaningful solutions that will benefit the Indonesian ecosystem and the region.”“We are thrilled to have won the prestigious Climate Impact Innovations Challenge (CIIC) at Indonesia’s largest sustainability event, the Indonesia Sustainability Forum (ISF). Our heartfelt thanks go to East Ventures, Temasek Foundation, and all partners for their incredible support. This recognition strengthens our commitment to pioneering green hydrogen innovation in Indonesia. We are excited to collaborate with PT PLN (Persero) and drive forward transformative solutions with our disruptive technology to accelerate the nation’s clean energy transition,” said Tulika Raj, CEO and Co-Founder, SunGreenH2.“Indonesia is at the crossroads of a greener future, and the momentum cannot wait any longer. Climate Impact Innovations Challenge gives us firm choices about the future. With all the innovations and technology on the stages, we can reshape the future of industry to less carbon footprints and more sustainable. AC Biode is proud to be part of the solution, and we are eager to make Indonesia’s industries greener and cleaner,” said Habibur Rahman, Head Engineer of AC Biode. Climate Impact Innovations Challenge 2024 is supported by several partners, including Strategic Partners: PLN, Triputra Agro Persada, Pelindo; Investor Partners: Bakti Barito Foundation, MDI Ventures, Sinarmas Agribusiness & Food, iForte, and many more. Rewatch the CIIC 2024 Grand Finale at climateimpactinnovations.com/stream.
About Climate Impact Innovations Challenge
Climate Impact Innovations Challenge (CIIC) is Indonesia’s largest climate innovations tech competition. Debuted in 2023, CIIC provides a platform for tech innovators to showcase their sustainable innovations in addressing ecological challenges and mitigating the impacts of climate change.CIIC 2024 provides the platform for teams to compete in three tracks: Energy Transition, Sustainable Agriculture, and Circular Economy for a total prize pool of Rp10 billion to pilot their solutions within Indonesia. Only teams that have created the pilot to create a minimum viable product with the intention of commercialization are eligible to apply.
About East Ventures
East Ventures is a pioneering and leading sector-agnostic venture capital firm. Founded in 2009, East Ventures has transformed into a holistic platform that provides multi-stage investment, from Seed to Growth stage investments, for over 300 tech companies across Southeast Asia.As an early believer in the startup ecosystem in Indonesia and the most active investor in Southeast Asia, East Ventures is an early backer of prominent tech companies in the region, such as Tokopedia, Traveloka, Ruangguru, ShopBack, Waresix, Xendit, IDN Media, KoinWorks, Sociolla, Tech in Asia (acquired by SPH), Kudo (acquired by Grab), Loket (acquired by Gojek), and MokaPOS (acquired by Gojek).East Ventures was named the most consistent top-performing VC fund globally by Preqin and the most active investor in SEA and Indonesia by various media. Moreover, East Ventures is Indonesia’s first venture capital firm to sign the Principles of Responsible Investment (PRI), supported by the United Nations (UN). East Ventures is committed to achieving sustainable development and positively impacting society through its initiatives and ESG-embedded practices.
About Temasek Foundation
Temasek Foundation supports a diverse range of programmes that uplift lives and communities in Singapore and beyond. Made possible through philanthropic endowments gifted by Temasek, an investment company headquartered in Singapore, Temasek Foundation’s programmes strive towards achieving positive outcomes for individuals and communities now, and for generations to come. Collectively, Temasek Foundation’s programmes strengthen social resilience, foster international exchange and regional capabilities, advance science, and protect the planet.***For more information, please contact:Pheseline FelimHead of Corporate Communications, East VenturesE: p.felim@east.vcLee Hui Ying Associate Director, Communications, Temasek Foundation
E: huiying@temasekfoundation.org.sgRead the offical press release by East Ventures here: https://east.vc/news/press-release/climate-impact-innovations-challenge-awarded-sungreenh2-hydrogen-refinery-and-ac-biode-a-total-of-rp10-billion/?mc_cid=fd1333102c&mc_eid=20b7caa55b
AC Biode 
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