IMPACT REPORT2022

ABOUT NEW
ENERGY NEXUS
New Energy Nexus is the world’s leading clean
energy ecosystem builder. We provide funding,accelerators, and training to help diverse
entrepreneurs build a 100% clean energy
future, from emerging tech through to clean
energy adoption and distribution.

Our Vision

An abundant world with 100% clean
energy for 100% of the population, inthe shortest time possible.

Our Mission

To support diverse entrepreneurs todrive innovation and build equity into
the global clean energy economy.

Our Goal

To reach 100,000 entrepreneurs
by 2030.

Our Impact
Tackling climate change

Building an equitableclean energy economy
Increasing energy access

Creating green jobs
Connecting innovation
ecosystems

2022 INDONESIAINDONESIAIMPACT
IMPACTREPORTREPORT22022 IMPACT IN NUMBERS
INDONESIA
Entrepreneur Data

15

Startups by stages

Portfolio startups

4.9%

9.1%
34.6%

1251

100%

Scale

60.41%Startup

27.1%

Idea

Growth90.9%(Number of startups supported through incubator,accelerator, scale or funding programs)

26.6%

Women in leadership(Founder/co-founder/c-suite)

65.4%
46.3%20182019

2020

2021

2022

Ecosystem Data
43

Strategic partners engaged

Startups by sector

Women entrepreneurs

8% Generation
Energy Management 23%

Energy Access 8%

Circular Economy 8%2022 INDONESIA IMPACT REPORT

3.1%
9.4%

48.8%

Entrepreneurs supported

468

Startup Data

15% Energy Efficiency

11

Stakeholder events
hosted/co-hosted

2484

2022

38% Electric Mobility

Participants in ecosystem
support programs and events3

Q&A WITHDIYANTO IMAM
Program Director at
New Energy Nexus Indonesia

What are yourmajor achievementsof 2022?
2022 was an important year for the New EnergyNexus Indonesia team. We were finally able to hold,arguably, the first and biggest clean energy startup festival in Indonesia, [RE]Spark. We welcomedover 1100 entrepreneurs, investors, students,government bureaucrats and media. This was
definitely the biggest highlight of our outreach event,
as we continue to find ways to inspire clean energy
innovators, startups and entrepreneurs from all overIndonesia to develop solutions to solve
real life challenges.

What unique role does
New Energy Nexus playin Indonesia?

the needs of clean energy and climate innovators,startups and entrepreneurs in all communities
in Indonesia. We also strive to include elementsof justice, equity, diversity and inclusivity in ouractivities and through programs such as Bali
Women Climate Entrepreneurs.

What are you excitedabout for 2023?
In the coming year, we are excited to be able
to support not only innovators, startups andentrepreneurs in the climate space through many ofour projects and activities, but also to work with andjoin forces with other key stakeholders in the space.
We also look forward to continuing to support morefemale innovators, startups and entrepreneurs andreaching out to underrepresented communities inthe eastern part of Indonesia to further build theclean energy ecosystem in Indonesia.

We are different because since our inception in
2019, New Energy Nexus Indonesia has positioned
itself as an ecosystem builder that brings together
different clean energy and climate stakeholders in
the country to accelerate Indonesia’s clean energy
transition. As Indonesia is an archipelagic country,
we know how challenging this will come for us,
therefore our programs are tailored specifically to2022 INDONESIA IMPACT REPORT

4

WHAT
WE DO
Indonesia’s transition to clean energy needs amassive boost. Despite setting a target of 23% forrenewables in the energy mix by 2025, the country
reached around 12% by 2022. There is also
insufficient investment in clean energy innovation.
That is where New Energy Nexus comes in.
Since 2020, New Energy Nexus Indonesia
acts as a bridge between different sectors andstakeholders, running incubation, acceleration,and funding programs to urgently develop theclean energy startup ecosystem.

[RE]Spark—Clean Energy Festival[RE]Spark is an event that brings together startups,entrepreneurs, innovators, investors, government
and private organizations, as well as communities
to grow the clean energy ecosystem in Indonesia.
New Energy Nexus has hosted the [RE]Spark
Renewable Energy Festival 2022 with:
1100+ participants
4 main Events
4 sponsors
10+ community partners
50+ clean energy and climate tech startups

Smart Energy—ecosystem building
for clean energy startups
The Smart Energy Program supports clean
energy innovators, startups, and entrepreneurs
through outreach, capacity building, and funding.
Part of the curriculum includes 1-on-1 mentoring
sessions, impact and GHG calculation training, as
well as networking held annually.

Funding and investment
We provide early stage catalytic funding throughthe Indonesia 1 Fund and non-commercial funding
through the Smart Energy Grant program toselected startups within and beyond the Smart
Energy program. The objective is to de-risk forfollow-on investors and address funding gaps
for early stage startups in Indonesia. We havesupported 17 startups through both the Indonesia 1
Fund and Smart Energy Grant combined.
In addition, as part of our [RE]Spark event in June
2022, we organized an Investment Speed Dating

2022 INDONESIA IMPACT REPORTin which we invited and curated 30 startups within
15 investors in the Clean Energy and Climate
Innovation space. The event encourages andprovides opportunities for the startups to develop
and scale further. Following the event, participating
investors have requested an aggregate of 45
follow-up meetings with startups they
are interested in.

Policy and stakeholder engagement
Since August 2022, we have engaged more than
100 stakeholders representing cleantech startups,
venture capitals, incubators, accelerators, venturebuilders, government ministries and agencies,
local governments, universities, and nongovernmental organizations to collect insights
into the state of clean energy entrepreneurship inIndonesia, its barriers, and solutions. We use theinformation to advocate a more supportive policy
and regulatory framework that can help unlock theclean tech startup potential in Indonesia.

Bali Women Climate Entrepreneurs—building gender equity
We aim to provide technical support for women-led
climate startups so that they can more effectively
scale their solutions. To date, we have engaged atotal of 94 women in Bali through outreach events,
and we are positive that we will be able to reachmore in the coming years.

5SOLUTIONSPOTLIGHT

NOA Bike

Advancing e-mobility In
East Indonesia
NOA Bike is a startup that provides an electric bikerental service operating in Labuan Bajo, East Nusa
Tenggara, and Bali. The business aims to support
the sustainable transportation ecosystem andtourism as a way to bring a positive impact to theenvironment and local communities.

The name “NOA” comes from Ende district in East
Nusa Tenggara province, which carries the meaning“easy”. NOA Bike was created as a digital platformto provide “ease” for local people and tourists toaccess eco-friendly vehicles in Indonesia.

They started this as a part of the government’s
initiative to develop Labuan Bajo as one of thesuper-priority tourism destinations, targetingone million visits per year. In addition, the use oftransportation with fossils in the Eastern Part ofIndonesia is still minimal, sparking an opportunity
to introduce electric vehicles in the area.

Support fromNew Energy Nexus

2022 INDONESIA IMPACT REPORT“New Energy Nexus’ program wasvery helpful, as it has offered us
opportunities to collaborate withother startups in the EV ecosystem.
The mentoring sessions were also
helpful to our startup’s growth,
especially in developing a new
business model that is more
impactful and scalable.”— Suharto Juma, CEO of NOA Bike

New Energy Nexus supported NOA Bike
through its Smart Energy Acceleration Programby providing mentoring in HR, finance, andmarketing and communication. New EnergyNexus has also provided NOA Bike with networks
and exposure to stakeholders through events
such as [RE]Spark Investment Speed Datingand Startup Exhibition. With the help of New
Energy Nexus, NOA Bike managed to expand theecosystem of electric bikes to Bali.

66

SOLUTIONSPOTLIGHT

Olat Maras

Decarbonising Indonesia’s
cold chain storage
Indonesia’s cold chain logistics market will be valued
over US$12 billion by 2031. If this market can be run
on renewable energy, we can avoid the massive
impact hydro-fluorocarbons (HFCs) haveon the climate.
The fishing industry in Java and Bali depend onsupplies from Eastern Indonesia, specifically West
Nusa Tenggara. Over the years, fishermen fromBungin Island have been racing against time tosell their catch before it spoils. Bungin island is a
populous island where the majority of the population
work as fisherfolk.

2022 INDONESIA IMPACT REPORT“New Energy Nexus Indonesia has
been very helpful in getting us toscale this business. They help us
connect to other startups
and investors. We are able tomanage this startup better.
Everything is possible. This may
be a small startup, but ourdream for Indonesia is big.”—Nova Aryanto,
CEO of Olat Maras

Olat Maras provides solar-powered cold storage
systems for these fisherfolk. Their product saves
30% from their daily electricity bill, as it is only
charged for 9 hours instead of 24. Additionally, thisallows fisherfolk to set a predictable price for theirproduct and store fish longer than 12 hours. Thismeans sales have been steadily increasing.

Support fromNew Energy Nexus
With the help of New Energy Nexus, Olat Maras
Power successfully created Cold Storage
NgebuUTS, a fish storage box energized in a hybridwith a combination of conventional electricity andsolar power. The box is exclusively made to help
the fisherfolk in Sumbawa Regency, especiallythose who live on Bungin island. They are aiming
to make crucial improvements to fully apply solar
power technology, and adding monitoring systems
to digitize the process.

7

SOLUTIONSPOTLIGHT

Warung Energi/BLUE
Scaling solar in Indonesia’s
remote areas

Warung Energi/BLUE (PT. Bina Lintas Usaha
Ekonomi) is a renewable energy company based inSurabaya focusing on solar PV systems for theB2B and B2C sectors.
It serves the B2B market offering end-to-end
EPC service that includes consultation, design,installation, training, as well as Operation andMaintenance (O&M) activities. BLUE also operates
an online marketplace called Warung Energi, whichsells solar PV system products, as well as homeinstallation packages.

2022 INDONESIA IMPACT REPORT“New Energy Nexus has taught us
how to strategize our business forsustainable growth by developinga realistic business plan.
We learned that strategic thinking
skills and measuring impact ofour work are essential. We should
think about how we, as a startup,
can positively impact society andthe environment throughour business.”—Nimas Puspito Pratiwi,
Co-Founder/COO atBLUE/Warung Energi

One of BLUE’s flagship projects is the installationof solar PV systems for schools, religious buildings,
and solar-powered water pumps for irrigation in
the remote village of Oebau, East Nusa Tenggara,
where access to electricity was notpreviously available.
As of 2022, BLUE has installed solar PV systems
that can generate 1,796 MWh of solar electricity
annually and mitigates 2,015 t CO2 emissions.

Support fromNew Energy Nexus
BLUE was one of the first companies funded by
New Energy Nexus through its Indonesia 1 Fund,as well as one its grant recipients in 2020. The
funding support from New Energy Nexus has
enabled BLUE to scale their solar PV business anddevelop a new product development prototype
called Jajan Energi—a remote energy monitoringand payment system.

8

WHO
WE AREDIYANTO IMAM
Program Director

YENI TJIUNARDI
Investment Director

IRFAN SIDIK
Investment Manager

ADELINE PERMATA
Senior Investment
Associate

GALING SUWITO
Investment Associate

DEWI SITEPUFinance and Administration
Manager

HARISTA BANGUN
Finance and Administration
Staff

BHAGASKARA MOEKTIEngagement Manager

FAELA SUFA
Engagement Manager

MUHAMMAD EVAN
PRATHAMA NUSANTOROEngagement Associate

PAMELA SIMAMORA
Policy and Advocacy
Manager

ENDA GRIMONIA
Policy and Advocacy
Associate

MUHAMMAD RAYHANALGHIFARI
Policy and Advocacy
Associate

ARIF UTOMO
Senior Program Manager

2022 INDONESIA IMPACT REPORT9WHO
WE AREYAN YAN MUHAMMADACHDIANSYAH
Program Manager

MELODY GITA
Program Manager

RENALDO SUTJIADY
Program Manager

SHAFIRA PUTRI
Program Manager

JAKA KELANA PUTRA
Program Manager

ALFY IFTHIKHARProgram Associate

I KADEK ALAMSTASUARJUNIARTA
Program Associate

KEVIN LIEUS FELIX
Program Associate

RAINY PUTRI
Program Associate

GRACIELLA MERARI
Program Associate

RAISHA FATYA
Communications Manager

NASYWA MAKARIM
Senior Communications
Associate2022 INDONESIA IMPACT REPORTNAUFAL MUSRI
Program Associate10Thank you to our funders whomake this impact possible

For more information about
New Energy Nexus,
please contact us by email:elizabeth.andrews@newenergynexus.com
indonesia@newenergynexus.com

IKEA Foundation
Climateworks
Milkywire
Bulb Foundation
Pertamina Patra Niaga
Korea Trade-Investment Promotion Agency
Medco FoundationInnovation Factory - GIZ
TransJakarta
ANGIN

Thank you to our partners
Ministry of Energy and Mineral Resources Republic of Indonesia
Ministry of Tourism and Creative Economy.
Trihill Capital
East Ventures
SEACEF
Crevisse Partners
Ideanation
Kejora Capital
Living Lab Ventures
Mandiri Capital Indonesia
OCBC NISP Venture
Earth Hoare
Schneider Electric
Global Green Growth InstituteThink Policy
Generasi Lestari
Medco Power Indonesia
Institute for Essential Services Reform (IESR)
General Electric
TBS Energi Utama Indonesia
JCM Secretariat
Saratoga Investama Sedaya
Institut Teknologi Sumatra
Ministry of Energy and Mineral Resources Office Lampung
Open Space Venture Capital
Institute for Development of Economics and Finance (INDEF)
Executive Office of the President of Indonesia
Innovative Academy UGMShell
Udayana University
KopernikAkuo Energy
Monkhill Venture
Hasanuddin University
NZMates
SinariMataram Startupreneur Academy
Indonesia Philanthropy Associate
Thegreaterhub Business Incubator
MDI Ventures
PT. Sarana Multi Infrastruktur
Yayasan Indonesia Cerah
Pratisara Bumi Foundation