Following a seed fundraising round from GIIG Africa Fund, a “profit and purpose” fund, clean Tech startup ScarabTech has several commercial initiatives planned for Africa, Asia, and Australia.
After receiving initial funding from a number of angel investors, the company has now completed its first equity-led round, however the precise investment amount has not been made public.
ScarabTech was established in 2018 and specializes in manufacturing “Beetles,” which are little and incredibly effective plastic-to-energy converters. These devices heat plastic garbage using specialized software algorithms and design, producing a vapor that is then caught and reconstituted into carbon-neutral fuel that can run generators and engines.
In addition to addressing the growing negative effects that single-use plastics are having on the environment and local populations, this technology aims to solve energy poverty and power micro-economies in underserved communities throughout southern Africa and the rest of the world.
At this year’s Global Startup Awards (GSA) Africa in Cape Town, South Africa, ScarabTech was selected the African regional winner of the Environmental, Social & Governance (ESG) Tech category.
The GIIG Africa Fund uses the GSA as its exclusive vehicle to identify, support, and scale Africa’s most innovative startups that offer clean energy solutions that are in line with the Sustainable Development Goals (SDGs). The GSA is the largest independent start-up ecosystem competition on the continent.
“The team has accomplished much with this round of equity-led funding, and it will help us validate our technology for worldwide distribution. Previously, from 2018 and 2022, we received angel funding, according to ScarabTech co-founder and CEO Jeffrey Barbee.
“The awards came around right as our first Beetle machines were going into service, and GSA gave us a strong platform to spread the word about our business, helping to earn back the faith of our early investors and opening the door to future funding.
With partners like the French-based Plastic Odyssey, a global expedition that employs our Beetle aboard their ship to teach people all over the world how to add value to plastic waste, we now hope to broaden our portfolio of actual, for-profit initiatives.
We are also eager to collaborate with Plastics Pirate in Australia, who is already removing plastic pollution that is endangering the Great Barrier Reef with our technology.
Barbee claims that the cash obtained from GIIG Africa would be utilized to help the firm finalize the Beetle reference design and get ready to commence commercial production by December 2023 using the knowledge gained from these projects.
He continues, “These projects—along with others in the field—are testing our business model and technologies in their intended operating context, an essential step before we scale the enterprise to start having an influence on the fight against plastic waste. All of this was made possible by the GIIG financing.
In addition to addressing the growing negative effects that single-use plastics are having on the environment and local populations, this technology aims to solve energy poverty and power micro-economies in underserved communities throughout southern Africa and the rest of the world.
At this year’s Global Startup Awards (GSA) Africa in Cape Town, South Africa, ScarabTech was selected the African regional winner of the Environmental, Social & Governance (ESG) Tech category.
The GIIG Africa Fund uses the GSA as its exclusive vehicle to identify, support, and scale Africa’s most innovative startups that offer clean energy solutions that are in line with the Sustainable Development Goals (SDGs). The GSA is the largest independent start-up ecosystem competition on the continent.
“The team has accomplished much with this round of equity-led funding, and it will help us validate our technology for worldwide distribution. Previously, from 2018 and 2022, we received angel funding, according to ScarabTech co-founder and CEO Jeffrey Barbee.
“The awards came around right as our first Beetle machines were going into service, and GSA gave us a strong platform to spread the word about our business, helping to earn back the faith of our early investors and opening the door to future funding.
With partners like the French-based Plastic Odyssey, a global expedition that employs our Beetle aboard their ship to teach people all over the world how to add value to plastic waste, we now hope to broaden our portfolio of actual, for-profit initiatives. We are also eager to collaborate with Plastics Pirate in Australia, who are already removing plastic pollution that is endangering the Great Barrier Reef with our technology.
Barbee claims that the cash obtained from GIIG Africa would be utilized to help the firm finalize the Beetle reference design and get ready to commence commercial production by December 2023 using the knowledge gained from these projects.
He continues, “These projects—along with others in the field—are testing our business model and technologies in their intended operating context, an essential step before we scale the enterprise to start having an influence on the fight against plastic waste. All of this was made possible by the GIIG financing.
The ScarabTech solution is needed because less than 11% of the 6.3 million metric tonnes of plastic garbage produced each year is recycled. The yearly production is expected to more than double by 2050 if current production and waste management patterns continue, posing a serious threat to the health of both human populations and the environment and hurting sectors including tourism, infrastructure development, agriculture, and fisheries.
Additionally, the need for alternative and “greener” fuel sources has been highlighted by Africa’s struggle for energy security in the face of rising population growth, sluggish economic development, and climate change. ScarabTech’s modular concept offers a local source of power and job creation for local communities battling the twin problems of plastic pollution and energy security.
According to Jo Griffiths, co-founder of GIIG Africa, “we are witnessing a higher desire for ESG-related investments in the technology sector globally, as markets across the globe perceive innovation as a crucial vehicle for addressing significant concerns linked to global warming and renewable energy.”
We’re not seeing enough investment into these industries, so we’ve made it our mission to lead the charge in this area in Africa, a continent where entrepreneurs like ScarabTech are inventing impact-oriented solutions that provide real value for local communities on the periphery. Today, we are overjoyed to officially welcome Jeffrey and the team to our portfolio, and we look forward to assisting them as they spread the word about their Beetles.
