Advancing Vietnam's 2050 Net-Zero Goal: Buyo’s and Alternō’s journey with Antler

In alignment with Vietnam's ambitious net-zero emissions target for 2050, local startups are playing a crucial role in accelerating the transition to a more sustainable future. These innovative ventures are not only advancing the country's environmental goals but are also generating business opportunities that foster economic sustainability.
 

Founded in 2022, Buyo emerged in response to the global issue of plastic waste. Unlike conventional plastics that can take up to 500 years to break down, Buyo produces materials from organic agricultural and industrial waste that are designed to biodegrade within one year. Employing innovative techniques, the company transforms bio-waste into biodegradable plastics.

Buyo's products are engineered to safely decompose in natural settings, posing no risk to human health while promoting a circular economy. The company serves a diverse clientele across Europe, North America, and Asia, offering products suitable for flexible and rigid packaging, as well as medical applications.

The Buyo team poses at Antler Vietnam HQ, home of the day zero investor that fueled their journey in revolutionizing biodegradable plastics.

In the same vein, Alternō, another promising startup founded in 2023, is striving to redefine energy storage. The company's team have developed one of Asia's first sand battery solutions aimed at the agricultural sector. This innovation seeks to mitigate the environmental toll of lithium mining, which has been shown to degrade soil quality and pollute air. In regions like Chile, lithium mining also strains scarce water resources to the detriment of local communities.

In contrast, sand is both plentiful and environmentally benign. Alternō's sand batteries utilize an insulated tank filled with heat pipes embedded in sand. When activated, the heat from the sand is released through these pipes, serving heating or cooling applications—a function that accounts for 52% of global energy consumption. The batteries have already found applications in Vietnam, Malaysia, and Japan.

The Alternō team stands proudly before their innovative sand battery, a breakthrough in sustainable energy storage.
 

Empowering green startups through Antler's ‘Day Zero’ investment model

Both Buyo and Alternō reaped benefits from global VC firm Antler's founder residency program, which operates under a Day Zero Investment Model. During the 10-week course, the startups received business insights, capital, training, and valuable networking opportunities.

Do Hong Hanh, co-founder of Buyo, noted that the program accelerated their business development. "Within just three months, we gained skills in investment pitching, business planning, and Product Market Fit analysis, considerably speeding up our progress," she said.

Hanh continued, “Had we pursued these objectives independently, the process might have spanned six months or longer. However, participation in Antler's program enabled us to expedite our transformation, requiring a mere three months. This acceleration has allowed us to maintain greater focus and advance more swiftly, bolstered by Antler's extensive network of global experts.”

Conversely, the co-founders of Alternō identified a technical partner with robust hardware expertise during their tenure in the program. Ho Viet Hai, one of the co-founders, added, "We chose Antler for its extensive European network and expertise in climate tech. The program helped us fine-tune our product direction, opening avenues for applying our sand batteries in various sectors."

"The Demo Day experience was also quite impactful for us. It attracted approximately 70% of all venture capital firms from the region that we had intended to approach eventually. This significantly expedited our outreach efforts, compared to undertaking the entire process on our own," elaborated Hai.

Since their initial participation in Antler's program, both startups have continued to garner investment and achieve notable milestones. In a bid to further support Vietnamese entrepreneurs, Antler has launched its fifth residency program in October 2023, with plans to invest in up to 25 new startups in the country.

About Antler 

Antler, a global startup investor, holds the philosophy that individual innovation is the key to building a better future. Therefore, Antler partners with exceptional founders across six continents.

Currently, Antler is present in more than 25 cities across six continents, namely Austin, New York, London, Berlin, Stockholm, Bangalore, Jakarta, Singapore, Seoul, Tokyo, and Sydney.

Antler also maintains a global community comprising founders, investors, operators, experts, and partner organizations that support founders with the Day Zero Investing model, even before having a clear team and idea.

Since 2018, Antler has invested in more than 800 startups from various industries and technologies. In Vietnam, where Antler entered in mid 2021, it has already invested in 34 startups. Currently, Antler aims to invest in 30 startups in Vietnam throughout 2023.

On a global scale, Antler aims to invest in 6,000 startups worldwide by 2030.

References:

1. COP27: Vietnam’s Net Zero Commitment One Year On

2. THE LIFECYCLE OF PLASTICS

3. South America's 'lithium fields' reveal the dark side of our electric future

4. Net-zero heat: Long-duration energy storage to accelerate energy system decarbonization