Phnom Penh, April 25, 2022 – Nexus for Development, as a Kiva field partner raised USD 50,000 for Straw Innovations to scale green rice drying technology and benefit local rice farmers.
Straw Innovations aims to collect and upcycle rice straw in economically viable and environmentally friendly ways. The company has already developed improved harvesters that maximize rice straw collection and reduce grain loss. Now, it plans to power a rice drying machine with the rice straw.
Rice is the world’s #1 food crop. However, for every kg of grain we eat, about the same amount of straw is produced. Rice straw is the greatest environmental disaster never heard of: 750 million tons are produced each year in Asia, of which 300 million tons are burned for disposal. Much of the rest is left to rot in the fields where it emits methane – a greenhouse gas (GHG) more than 80 times worse than CO2. As a result, rice is responsible for more GHG emissions than the whole aviation industry.
With this green technology, Straw Innovations can:
- power the drier with biomass instead of diesel;
- prevent open field burning of rice straw;
- produce biochar in the process (a natural fertilizer that stores carbon in the ground);
- reduce tons of GHG emissions.
At the same time, Straw Innovations can double the income of smallholder farmers by providing improved harvesting and drying services.
Straw Innovations Kiva Campaign
- Sector: Clean energy
- Location: The Philippines
- Total loan: $50,000
- Powered by 1,383 Kiva lenders in a couple of days!
This loan of $50,000 will allow Straw Innovations to build and test the rice drier powered with rice straw. The system aims to dry up to 6 tons of rice per day and support up to 250 smallholder farmers.
Kiva is the world’s most popular crowdfunding platform with a mission to alleviate poverty by connecting people through lending. Through crowd-funding, early-stage enterprises are able to tap a broader network of smaller, individual lenders that they otherwise would not have been able to access.
Nexus for Development is a Field Partner of Kiva, meaning that we are able to raise loans up to USD 50,000 for social enterprises that would have been ineligible for a listing due to restricted geography.
About Nexus for Development
Nexus for Development is an international not-for-profit organization founded on the principles of sustainable development. We drive access to finance in developing economies across Asia to increase sustainable energy and water resource development, advance low-carbon solutions, and scale local implementers.
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