- Funds will be used to develop system of machines, enhance local operations
- Klean now operates 100 RVM devices across Malaysia, Indonesia, Singapore, &, Fiji
Ficus Capital ( Ficus ), the world’s first Islamic Environment, Social, and Governance ( ESG-i) venture capital firm, announced that it will invest US$ 429, 000 ( RM2 million ) in Klean, a green technology sustainable recycling business owned by Janz Technologies Sdn Bhd.
In a statement, the company said this investment, made through Ficus’s flagship Ficus SEA Fund, will support the Malaysia-founded company’s initiatives in container recovery, expanding its network of reverse vending machines ( RVMs) and enhancing its regional operations in Malaysia, Indonesia, Singapore, and Fiji.
Klean encourages people to recycle empty plastic containers through the use of a sophisticated digital container deposit system based on artificial intelligence ( AI)-based reverse vending technology. The company encourages active involvement in recycling efforts by satisfying customers with points that can be exchanged for rewards. Moreover, its RVMs hold the World Green Tag Certification, ensuring the highest specifications of environmental sustainability and performance.  ,
Our investment in Klean represents our continued commitment to supporting businesses that operate in accordance with ESG-i principles, according to Ficus Capital managing partner Abdullah Hidayat Mohamad ( pic ). As global awareness of social and environmental issues grows, so does the need for responsible investment options that conform to moral and religious principles.
The ESG-i field “presents the intersection of these trends, giving investors the opportunity to make morally responsible and effective investments while upholding Muslim financing principles,” he continued.
According to Fortune Business Insights, the global green technology and sustainability market is projected to grow from US$ 19.83 billion ( RM92.5 billion ) in 2024 to US$ 83.59 billion ( RM390 billion ) by 2032, at a compounded annual growth rate ( CAGR ) of 19.7 percent. Major growth is anticipated, particularly in developing markets and emerging markets.
Nick Boden ( pic above ), co-founder &, CEO of Klean, said,” Ficus’s investment in Klean is a vote of confidence in the company’s future. This extra funding might become a significant contributor to our expansion. Our goal and Ficus ‘ commitment to sustainable and ethical investment are perfectly aligned, enabling us to increase our network of RVMs and strengthen our regional operational presence.
He added that Klean chose Ficus to serve as the agency’s head institutional buyer because of their closeness to the company’s objectives. ” First, they specialise in Shariah-compliant ESG investing, which resonates with our principles. Our designed growth into ASEAN areas is properly complemented by their strong appearance in Southeast Asia. This provides a significant level of trustworthiness and potential for future support because the fund is supported by Mavcap and the Malay government,” said Boden.
Green recycling technology has the potential to revolutionise different industries, including clean energy, sustainable transport, waste control, and power performance, thereby fostering a cleaner, greener future for all.
Equipped with cutting-edge AI systems, Klean’s Smart RVMs include a device learning-enabled hose worthy of recognising models of stored containers. This makes intended advertising available and allows the shop to recover their container’s data. Moreover, the machines quickly identify the type of materials and sort it into individual boxes, optimising recycling operations. Now, there are 100 RVM products across Malaysia, Indonesia, Singapore, and Fiji.
Our cutting-edge systems, according to Boden, “enables us to live in a cleaner, greener future by facilitating the disposal process as well as providing useful data and insights.” We are looking forward to having a significant impact on the environment and the communities we serve with this relationship and are excited about the opportunities it may offer.
Complementing these RVMs is the Klean the World mobile software, which allows extractors to scan QR code, obtain Klean items, and unlock benefits. The app uses core user data to create targeted, precise marketing campaigns. Additionally, Klean’s data and reporting capabilities allow businesses to track RVM data and ESG reporting in real-time using the Klean dashboard, providing businesses with detailed information for CSR reporting and data monetisation channels.
Ficus SEA Fund was launched in November 2021 with a focus on accelerating the growth of high-potential technology startups across ASEAN in sectors such as logistics, fintech, healthtech, e-commerce, edutech, greentech, big data analysis, and cloud services. The fund aims to support innovative businesses that have a positive effect on society and the environment. It focuses on three primary concepts: Shariah principles, sustainable growth, and ESG.