Fairatmos has established the Digital Pre-Feasibility Study (Pre-FS) that is built with Remote Sensing and Machine Learning technology to predict the potential of carbon sequestration projects correctly
Heaptalk, Jakarta — A local carbon technology startup, Fairatmos, has seized its seed funding round worth US$4.5 million (Rp65 billion), led by Go-Ventures and Kreasi Terbarukan TBS, the investment arm of local energy company Toba Bara Sejahtera. Also, Vertex Ventures SEA and India and multiple leading angel investors participate in this round.
Accomplishing the new investment, the company will use the fresh injection to amplify the platform by providing new digital innovation in the carbon market, reach more project developers and communities, and broaden the team in diverse positions, including a remote sensing analyst, product expert, and engineer.
Established in 2022, this startup intends to democratize carbon market access through the platforms that support the development of carbon sequestration projects for communities, corporations, and other parties. In addition, this startup also aims to contribute to the project developer in terms of funding with commercial and individual entities.
As conveyed by the Founder and CEO of Fairatmos, Natalia Rialucky, “The proper method for companies to meet their targets is to offset their emissions through carbon credits. Developing a carbon saturation project is considered a complex responsibility. Despite the abundant potential for Indonesia to become a global carbon sink, historically, there have been few projects in Indonesia due to numerous technical barriers and up-front costs, impacting the difficulties among communities and organizations to participate.”
Further, the company aims to elevate Indonesia’s farmers’ earnings through additional income from the carbon project’s complicity in diminishing the surrounding ecosystem degradation. For this reason, Fairatmos is building innovative solutions to bolster society asset owners and project developers to verify the carbon project and provide a free technical guideline and digital pre-feasibility study.
As a result, Fairatmos has established the Digital Pre-Feasibility Study (Pre-FS) as an initial product for carbon sequestration through mangrove conservation. The platform helps in a straightforward carbon verification process that includes identification, standardization, and selection of methodologies, up to methodologically based project feasibility checks.
The Pre-FS platform is built with Remote Sensing and Machine Learning technology, which is claimed to be able to predict the potential of carbon sequestration projects correctly. In development, Fairatmos always refers to databases issued by the government, such as the National Forest Reference Emission Level for Forest Deforestation and Forest Degradation issued by the Ministry of Environment and Forestry.
As it is known, under the 2015 Paris Agreement, around 196 countries have supported maintaining the global temperature rise of 1.5°C, expecting to reduce greenhouse gas emissions by up to 50% by 2030. Furthermore, around 702 leading companies worldwide have pledged their net zero targets with rapid growth in the previous year, including Indonesia.
“With a forest cover of over 126 million hectares, Indonesia, globally, is known as the world’s lungs. The carbon market potential in the country has huge opportunities, with an estimated value worth US$65 billion of the carbon economy value,” said the Partner of Go-Ventures, Aditya Kamath.
Fairatmos, during its early business journey, has demonstrated excellent attractiveness and worked with more than 40 project developers in several projects, consisting of carbon sequestration projects in mangroves, forests, and agriculture. Regarding the further strategic plan, this startup intends to connect developers with companies and individuals with a similar goal of balancing carbon emissions as a part of the net-zero target.
“In the future, we aim to continue to boost multiple obstacles and develop technology innovation for our platform. This action is expected to enable plenty of considerable access to the capital and technical expertise for the carbon absorption project,” concluded Natalia.
