Low-carbon answers reach agriculture
The agricultural sector is witnessing a transformative shift towards sustainability, highlighted by the increasing support for low-carbon agricultural solutions. This movement is significantly impacting Vietnam, where innovative businesses are securing new funding to expand their contributions to a greener future.
One notable instance is HUSK, a Cambodian enterprise specializing in biochar and biofertiliser, which recently raised $5 million from Mekong Enterprise Fund IV. With these funds, HUSK aims to launch its products in Vietnam by 2024, targeting the rice and coffee sectors along with high-value horticulture. CEO Heloise Buckland emphasized the dual benefits of their products in reducing synthetic fertilisers and bolstering soil organic carbon. This initiative aligns with national objectives to cultivate high-quality, low-emission rice, also supporting pest control measures for higher market prices.
HUSK’s strategy includes collaboration with Can Tho University and other research centres to validate the efficacy of its products through controlled trials. By 2026, HUSK intends to establish its first operational site in Vietnam, setting the stage for regional exports by 2027.
Simultaneously, Rize, a Singapore-based agritech platform, is making strides with a $14 million Series A funding boost. Rize focuses on sustainable rice cultivation, forging partnerships with local agronomists, farmers, and institutions like Can Tho University. CEO Dhruv Sawhney highlights the environmental and economic challenges of traditional farming methods, underscoring the urgent need for innovative solutions.
Rize aims to support over 150,000 farmers, transforming agricultural practices to increase efficiency, reduce greenhouse gas emissions, and secure economic stability for farmers. This venture addresses the critical barriers faced by smallholder farmers, such as limited access to data and high operational costs, paving the way for more sustainable and productive farming methods.
Local ventures are also drawing attention with their green solutions. CAS Energy, in collaboration with Beacon Fund, is advancing renewable energy projects intertwined with circular agriculture, promoting rooftop solar projects that support sustainable agriculture and job creation in areas like Ninh Thuan and Dong Nai.
Moreover, Alternō, a groundbreaking sand battery startup, has successfully raised over $1.5 million to reduce carbon emissions in agriculture. This investment round, supported by various international and local investors, underscores the growing attention Vietnam is receiving as a hotbed for climate tech innovation.
The convergence of funding, innovation, and a commitment to environmental sustainability is positioning Vietnam at the forefront of the global movement towards low-carbon agriculture. These developments not only aid in addressing climate change but also in securing a more sustainable and prosperous future for farmers in Vietnam and beyond. As these initiatives take root, they promise to revolutionize the agricultural landscape, highlighting the critical role of investment and innovation in driving positive environmental impacts.
