Jakarta (9/10) – New Energy Nexus, supported by the IKEA Foundation, has closed its first investment in Indonesia in a local renewable energy company, PT. Bina Usaha Lintas Ekonomi (“BLUE”). This also marks the launch of its Indonesia 1 Fund, dedicated to supporting early stage renewable energy companies in Indonesia.
Led by Yeni Tjiunardi, New Energy Nexus Investment Director for Indonesia, the fund focuses on smart and renewable energy in 10 areas such as are Renewable Energy, Smart Grid, Energy Efficiency, Energy Management, Customer Experience, E-Mobility, Business Model Innovation, IOT & Digitization, Energy Access and Energy Storage.
“We empower scalable and competent renewable energy companies in progressing Indonesia’s effort to transition to a low – carbon economy by the combined programmatic and investment approach,” said Yeni Tjiunardi.
Aiming to enable and empower 10 to 15 companies at the seed to series A stage, Indonesia 1 Fund eases the early stage investment gap and barrier for Indonesian renewable energy entrepreneurs and companies to enter this budding market. “With this funding, we aim to strengthen our company’s foundation, focusing on sustaining high-level development over the next 2 years. Some of them are improving our e-commerce platform called the Warung Energi, and expanding our team for marketing and project management,” said Abu Bakar Abdul Karim Almukmin, the CEO of PT. Bina Usaha Lintas Ekonomi (“BLUE”).
BLUE provides one stop solutions for solar energy related goods and services through its B2C online market place known as Warung Energi as well as B2B solar energy solutions to commercial, Industrials and centralized solar energy systems for urban and rural areas in Indonesia. The company was admitted into New Energy Nexus Indonesia’s incubation track in late 2019, which then made their way into the acceleration program in 2020.
New Energy Nexus Indonesia, one of the international programs under New Energy Nexus based in California, opened its door to early stage Indonesian renewable energy start-ups in 2018. Its incubation and acceleration tracks offer coaching, mentoring and support to help validating and firming “Go to Market” strategy and plans for each team under its program. As part of the program, the teams could be eligible for two types of funding: restricted incubation grant and investment funding through its Indonesia 1 Fund. Application for New Energy Nexus Indonesia incubation and acceleration program open all year round for renewable energy start-ups and entrepreneurs on indonesia.newenergynexus.com.
For more information
Anindita Sekar Jati
Indonesia Communications Manager