Farming, Finance & Biochar with Aukrit Unahalekhaka, Co-Founder & CEO @ Ricult

Feb 19, 2026 · 36:09 · Agriculture & Biochar

Aukrit Unahalekhaka built a million-farmer AgTech platform in Thailand, then walked away to bet on biochar.

Why a Million Farmers Still Could Not Get a Fair Loan

Aukrit Unahalekhaka grew up on a family farm in Thailand and carried one observation into MIT: the country is a top-three global exporter of agricultural commodities, rubber, rice, and sugar among them, yet the farmers producing those goods routinely earn under 200 USD per month to feed families of five or six. The structural cause, in his framing, is a mismatch between how banks assess risk and how farming actually works.

Conventional credit scoring rests on two pillars: the ability to repay and the willingness to repay. For salaried workers, both are legible. For smallholder farmers, income arrives in a single lump sum at harvest, and any drought, flood, or pest outbreak can reduce that figure to zero. Banks, lacking tools to model that volatility, simply opt out. The gap is filled by informal lenders charging 30 to 50 percent annual interest. "What business can you actually do that generates that much of a return?" Unahalekhaka said, framing the loan-shark rate as proof the entire financing architecture is broken, not merely expensive.

Ricult's initial response was an app delivering weather data, satellite imagery, and agronomic tools directly to farmers. Within one to two years of launch, the team recognized that the app was a distribution channel, and the real value sat upstream: the ability to model farm-level risk in a language banks could read.

Satellite Data as a Credit Underwriting Layer

The pivot from agronomic advisory to fintech was not a brand repositioning. It was a logical extension of the data Ricult was already collecting. Satellite imagery allowed the platform to assess crop health, estimate yields, and track climate exposure at the field level, inputs that translate directly into the two variables banks require for lending decisions.

Ricult eventually extended loans to hundreds of thousands of farmers and, at its peak, had nearly one million farmers on the platform. The company raised around 12 million USD and won Thailand's Prime Minister Award for startup of the year twice in a row. The scale validated the model. The friction was monetization: AgTech serving subsistence-level users generates thin margins, and the fintech layer, while strategically sound, required regulatory navigation and capital intensity that created its own ceiling.

Unahalekhaka describes the period as a "hyper growth era" during which Ricult was onboarding 10,000 to 20,000 new users per month. The question the team wrestled with was not user acquisition but financial sustainability, and the answer pointed toward two revenue streams: direct lending to farmers and selling supply-chain visibility data to agricultural commodity traders and exporters.

The Decision to Exit and What It Reveals About Founder Timing

After seven years, Unahalekhaka transferred his operational role to his co-founders and departed. He describes the decision in terms that are affective before they are strategic. "I feel that I'm breaking up," he said. "Having a company, to be honest, it's like getting married to someone."

The practical rationale was geographic and contextual. Three of his four co-founders were non-Thai nationals (two Americans and one Pakistani) with limited appetite for relocating to Thailand full-time. The problems Unahalekhaka wanted to solve next were Thailand-specific, rooted in local agricultural waste streams and carbon policy. A new vehicle made more sense than trying to steer an existing one toward a different destination.

His framing of the timing draws on a technology-adoption analogy: he describes the current moment in generative AI and AI agents as comparable to the internet window of 1997 to 2000. At Alpai Capital, his new nature-based climate tech fund, the team runs with only two staff members and automates most operational work through AI tools, a deliberate experiment in testing whether the same thesis that animated Ricult (technology closing the gap between underserved populations and institutional systems) can be applied at a fraction of the overhead.

Biochar as a Farm-Centric Carbon Removal Strategy

The transition to Alpai Capital did not represent a departure from the farmer-centric model. It represented a re-entry at a different point in the agricultural value chain. Where Ricult addressed income volatility and credit access, Alpai targets agricultural residue, the crop waste that Thai farmers currently have no efficient mechanism to monetize.

Biochar sits at the intersection of waste management and carbon removal. Agricultural residues that would otherwise be burned in the field (a significant source of air pollution and greenhouse gas emissions in Thailand) can instead be converted into biochar through pyrolysis. The resulting material serves as a soil amendment and, when properly verified, generates carbon removal credits. Unahalekhaka's thesis is that farmers gain a new income stream from material they currently discard or destroy, and Alpai takes a commission on the carbon credit revenue.

His argument for Thailand's comparative advantage in biochar is structural rather than aspirational. Thailand's position as a top-three global agricultural exporter means the country generates enormous volumes of organic residue. Combine that feedstock density with an emerging carbon credit market and a government with stated sustainability ambitions, and the conditions for a scaled biochar industry are present in a way they are not in most markets.

The farmer-centric logic carries forward directly. Ricult asked: how do we use data to make farming less risky and more financeable? Alpai asks: how do we use the outputs of farming, including its waste, to create additional revenue that flows back to the farmer while removing carbon from the atmosphere? The population served is the same. The mechanism is different.

  • The Two-Pillar Credit Gap: Why Banks Misprice Farmer Risk
  • Satellite Data as Underwriting Infrastructure
  • Founder Exit Timing: The Technology Window Test
  • Farm Waste as Carbon Asset: The Biochar Revenue Loop
Full transcript Click any timestamp to jump to that moment in the video.
  1. Oh, today on the show we have Alit Una Helaka. He is a I would say we're friends. I'm going to say we're friends. Uh it's been six years since I've been following his journey uh with Recult. Uh he is now leading his own fund uh investing in uh mainly biochar um projects in Thailand. But oit um

  2. before then spent uh eight nine something like that years with uh the company that I mentioned were called they use uh satellite imagery to help small holder farmers make better decisions about their crops and transitioned as we'll hear uh to more of a fintech model for small holder farmers. Um uh he has some difficulties

  3. with that business model. Very interesting to learn about. He also um uh advises the Thai government on how to uh use policy and regulation to create an environment of innovation around sustainability in Thailand. uh his take on why he believes biochar to be uh the thing for Thailand to focus on is because he wants to recognize where

  4. Thailand can be world leaders and he thinks biochar is not only um a good uh solution for sustainability but also something that uh Thailand is apt to be good at. So very special and interesting conversation for me uh to to talk to him after all this time and uh thank you to our partners as always clean techch

  5. growth lab if you're looking to grow in clean tech they are the people to work with and the producers of this podcast craze and friends and with that I give you a oh here we are thank you to the sponsors shouted out just before this without them not be possible to interview awesome people doing awesome things like

  6. Arrit. Welcome. Thanks, Mike. Has been a while. It has been a while and uh I usually get, you know, very excited for conversations, but not many of my conversations have the type of history that we have. I have been following Arrit. We've spoken only a few times, but I've been following your journey for about six or

  7. seven years now. I think uh everything that you've been doing has been really awesome. uh and you know can't do it justice in 45 minutes an hour but we'll do our best. So for anyone that doesn't know yet uh if you could give a brief uh overview of who you are and what you're

  8. building. Right. Sure. So so so hi everyone uh my name is Okrit. So now I run nature based climate tech fund in Thailand called Alpai Capital. But before this um I run a tech a startup called Recount which is an agriculture technology company where we use AI and machine learning and satellite technology to help uplift the

  9. life of small holder farmers in Thailand and Southeast Asia. So this company was a spin-off from MIT accelerator. So I founded with three other co-founders from MIT while I was a student over there. So it was about seven eight years back before the AI boom came about. So I think we were the early movers in terms

  10. of using AI technology, using AI to analyze various data to provide it to to small holder farmers especially. And I think we got to the point that we had almost a million farmers in Thailand using our platform. Yeah, I I that's that's when I started.

  11. I forget how exactly I came about. Uh your company, it might have been looking around MIT's website or stuff like that, but Rick is is an incredible uh venture. I'm so uh glad that you guys decided to do that. Um something that uh I am curious about before we get into that journey is had you always envisioned

  12. yourself being a founder or did it did did it just happen at some point? Yeah, I think I have this crazy drive that I want to change. I mean it it would be too too much an overexaggeration if I said I want to change the world, right? But I mean if I can change some a small part of this

  13. world that can make the life of the people better or make the outcome a positive impact to the world I think that's enough right and we can then decide on what what's the scale that we are talking about for me I'm from originally from Thailand Thailand is still a developing country so I feel

  14. that technology and innovation can definitely be used to help improve some aspect of Thailand so I think this has always been my inspiration and when I was looking for jobs I mean I went to the dress for schooling came back to Thailand and trying to find a company that I can deliver this impact that I

  15. have always been looking for but I couldn't find any that fits my interest so that's why I started recount around seven years back and I think it it was quite quite quite a journey in fact so we raised around 12 million USD one of the top we became one of the top agree

  16. techch company in Thailand we won the prime minister award star of the year two times in a row in Thailand as well so so so so I think it it was definitely a great journey and and I think I got to live on and work on something I can wake up and I look forward to working on

  17. every day, right? I think I think that's the goal of being an entrepreneur. But I have to share with you Blake that um there's up and down definitely right. I think the down may be more than up and the question is that how do you survive that wave and how do you keep going

  18. forward right I I I think luckily I found the problem the question that I was extremely passionate about and that I was looking forward to solving every day I think that's that that's how that's how it's going right now so um I would love to do like you know seven whatever episodes on recult alone

  19. but if uh for the sake of this episode if you could just give I guess a summary somehow of of what the journey of Recult was from when you started it to uh then when you uh when you weren't involved with it anymore and if also you could focus on how did you come across this um uh this

  20. problem and why was it that you created the solution that you did? Yeah. So, so I mean I grew up in a family we own a farm in Thailand, right? So I live and breathe doing agriculture farming in Thailand. Thailand a country in Southeast Asia definitely might be known for being one of the top tourist

  21. destination in the world. Right? I think we are top five with the most tourists every day every year. But um one of the things that people may not know is that Thailand is the top three exporter of agricultural good in the world. Right?

  22. If you look at rubbers where you guys are driving cars, rubber that goes to Michelin, Continental, all these top tier uh rubber tires or like Porch or like all the F1 like most of the rubbers actually come from Thailand, right? And actually like sugar, rice, all these agricultural commodity. I think Thailand is one of the top three producer on

  23. almost every agriculture commodities. But farmers are living in poverties. So we have a country of around 60 million people around 20 25 million people are farmers but they are living under 200 USD a month right so basically they have to that's the income that they have to feed a family of five family of six

  24. right so and and the issues with farming is that they don't get um monthly income like a salary workers right their income only come when they can sell their crops right at the end of the year so that means that they get one lump sum at one time a year. But if they face drought,

  25. they face flood, they face climate change, risk, they face insects, various disease outbreak for example, their income may be zero for that year, right? And what will happen to their family? And I think that got me thinking and and decide to think that oh, can we use technology, can we use AI, can we use

  26. data to help farmers better manage their risk and help better improve their income, right? So, so I think that's the the the main starting point that we got started and then once we develop an app that farmers can get access to weather data to satellite data to various tools to improve the income we realize that

  27. the farmers want access to low low cost financing. What what I'm saying is that I feel that farmers are actually likememes, you know, small business, right? In order for them to grow, in order for them to invest in new tools, invest in new um new new seed, new fertilizer, they need some some some financing, right? I mean,

  28. if you are like mom and pop shop. Yeah, please. Well, just so so at some point you your business model turned into uh small business financing at some point. Absolutely. So, we turn into a after how long? After how many years? So actually after around one one to two years we have this

  29. idea in mind that we want to be fintech for farmers. Okay. Nice. It was extremely difficult but that that's what we got about. Were you were you still using the the um um well I guess I guess then so your your main technology was using satellite uh information right high quality satellite information and digesting it

  30. in a way that made sense for farmers. So at that point, were you simultaneously using that satellite data to assess risk and be able to to provide loans for for farmers? Is that what you were doing or was it something different?

  31. Yeah, exactly. That's what we did. So So I mean I mean if you look about it Blake, if you go to a bank, right, you are you are successful entrepreneurs, right, in this space, right? The bank will want to lend money to you because they know that your risk is manageable.

  32. Then they can predict your income. When banks want to give loans to someone, right, they look on two things. One is ability to repay the loan, which is how much income or potential income you have to pay the money back. And two is willingness to repay. What this means is that how honest you are, right? Uh if

  33. you're a good or bad person, I mean you you have to have both, right? You have to have the money to pay back and you must have the will to pay back the money, right? The question is that if you arememes traditional business it is much easier to understand your risk but for farming banks don't understand the

  34. risk in this space right so so so that means that the farmers are usually underserved what underserved mean is that if you're a small business in Thailand you can walk up to a bank and get a loan for 10 to 15 uh% interest a year but if you go to the loan chart

  35. middleman it may goes up to 30 to 50% right that that's Crazy. Crazy. Yeah, absolutely. Like what business can you actually do that generate that much of a return? Right. So then so then after after after you identified this and the business model changed and obviously you know so many questions about what that experience was

  36. like for you personally. But I guess to get to like the middle section of recult you know how did you build on this business model? Did it change again or was this the business model that that you ended up growing the company on?

  37. Yeah. So, so I mean agreech I have to be honest like agree techch is extremely difficult to monetize right like any other startup that u in the first early phase we try to grow our user base we we had a hyper growth era where we we onboarded 10,000 users 20,000 every month for example right and we were

  38. growing fast the question is that how do we monetize enough to be sustainable financially right so so so fintech was one of the anchor that we look upon and two was looking at how we can better monetize our data to agricultural meals traders exporter that want to have some visibility into this whole supply chain.

  39. So then so then so then uh how long in total was it uh that you were working on recult? I worked on recult for seven years. So seven years. So so from that midpoint until the end of it what was your experience uh exploring this business model? Oh, so so so um I I I think

  40. there's definitely still a uh a business opportunity in this area. We give loans to hundreds of thousands of farmer, right? We were skilling quite quite well. But as we move on, I realized that I found another opportunity in this agricultural space. I mean I mean even though I I started my own fund, we

  41. started another subsidiary of this fund where we try to do carbon removal through nature, right? which is still involving farmers very much so right we are looking into like how do we help farmers do regenerative agriculture we are looking at how we can manage the waste better from farming that it can be

  42. sold to make into biochar biochar can be made into carbon removal carbon credit for example right I'm looking at other areas where we can still use farmer as a farmercentric approach but trying to look at different areas where we can make more money more income for the farmers and we can take some some some

  43. cut along the way to be honest, right? It's a win-win opportunity for the farmers where if they join on board with our service, they can have higher income and we can also take some commissions along the way as well.

  44. So, so, so what was the end of her call like for you? Yeah, for me I I I I extend it to my co-founders and they're still running it. For me, I I there are certain issues with agriculture in Thailand that I I feel that I really wanted to solve and it is a very local Thailand specific

  45. problems that I mean I mean when when I first started recount right um it was from MIT so my three other co-founders were fabulous right but they are I mean in Thai context they are foreigners right they are two American and one Pakistani so so so it will be difficult for them to move to Thailand and do this

  46. new venture with me full-time. So, I asked for an opportunity to exit my position and launch this new firm where we try to look at all these environmental issues in Thailand. Man, just just um so uh a part of uh the mission with this podcast is to help other founders. It's just one of the

  47. angles, but it's to connect with other founders about the experience of being a founder. And I think something that does not get uh talked about enough relative to all the successes and all the good things about entrepreneurship is the idea of knowing when to stop or knowing when to walk away. So could you talk a

  48. little bit about your experience of doing that because that's a lot of your life that you dedicated to that. It's a very difficult decision. You know, what does it look like to finally decide like I'm going to to walk away from this?

  49. Yeah. I mean I had definitely a great great experience with Ricard, right? And I think for me my my my my standard I think it was quite a success. But for me right um after seven years I realized that there are certain other problems that intrigue me and I feel that oh I

  50. should jump in with this opportunity right. I think there's an opportunity with AI generative AI for example AI agent where my new company we only have two staff and we automate most of the operation work through AI right I mean this I mean I mean I mean we I I think that's the opportunity that barely come

  51. in and I feel that this is a window like internet in 1997 to 2000 where pretty sure you were too young at that time myself as well right I was like very young at that time right I couldn't catch that wave But I feel that this is another AI wave where if we use it well,

  52. there are many problems. Yeah. That can create new pack as well that AI can definitely solve. And I think that's Yeah. Was it a Was it a difficult decision for you to walk away? Oh, definitely. Right. I feel that I'm breaking up, right? I mean I mean I feel that um having a company, right, to be

  53. honest, it's like getting married to someone, right? The joke that I always had with my wife was that I actually see my co-founders and talk with my co-founders and staff more than I talk with my wife, right? Which is definitely true because I usually go into the office from 8 to 7 to 8:00 p.m. 8 in the

  54. morning I leave office around 7:00 p.m. Right? So that means that I have just um 3 4 hours back home, have dinner with my wife and sleep and then wake up and go out again. Right? So basically if you want to depart from that routine from all the people and especially a place

  55. where you build from scratch right um it it took me a while to decide right but I think we have to choose I mean what I realize is that as people get older as we go through a new phase in life our priorities start to change and our preference start to change as

  56. well right I think like anyone right I mean entrepreneurs are still human right what you like when you were 20s what you prefer when your 30s might be different from what you are actually looking forward to when your 40s for example right I think different phase of life have different passion that that comes

  57. about you right so but but for me I the best thing is to have a conversation to have an honest conversation with your founders right and say that okay what's the best way out for everyone just don't disappear right I think that's the worst thing that you can do you the worst thing is that I just come up to the team

  58. and say oh I'm quitting tomorrow Right? And they don't have any succession plan. But for me, we had like almost a year that we plan out that oh each of us will focus on different things and I think that's the best for everyone.

  59. Okay. Yeah. So that that's extremely helpful. So when you said it took you a while, do you know did you mean like a couple months or did you mean a year or several months actually? Several months. Yeah. Okay. Good. Good. So So okay, thank you for thank you for that context. Like I

  60. said, uh so many more questions about that journey, but um but for the sake of this episode, between Recalt and your journey now, you did some work with the the Thai government. Is that true? Right. So, so I became the um AI advisor to the prime minister office. Right. So basically that that that that that's why

  61. I'm saying that um I have this interest of of using AI and see how AI can can drive change to society and Thailand is a big agricultural and and and food um country, right? So I was looking at how AI can help drive this this sector specifically. So then quickly to to change perspectives from a founder to a

  62. government leader, how how were you thinking about supporting uh a tech, clean tech, this sector, these farmers that you've been working with for a long time? How were you thinking? How does the government think about supporting this sector? you know like it is is the only well you know they they have the

  63. capacity to write legislation to pass policies you know create uh compliance and then also distribute funds so were you you know were you involved at all uh with any of that yeah yeah yeah I think that's a great great question I think that provide me with some interesting perspective when when definitely when I was helping the

  64. the government team right it was a parliament that that was involved with um so so so so basically Um if you look into Clint right I have to say that the US are doing quite well I would have to say in terms of the policy to okay let's put this way when you create an

  65. innovation right you come up with a new technology like clean techch agree techch and so on to be honest you need some subsidy or else the market will not adopt on on its own and if you're waiting for the market to functions and work work itself out I don't think it will work out right because it will take

  66. too slow for people to adopt Right. But but with subsidies with um government policy that that's that's where the push comes in. Right? If you look at the history of US renewable energy or clean tech history, right? It was driven through many policy and many subsidies to get it up and running, right? And

  67. once you hit that point where let's say for example solar is cheap enough now people just buy it because it it makes perfect sense because solar panel is cheaper than I mean I mean in Thailand at least, right? putting a solar panel is cheaper than paying for electricity from the government, right? Because the

  68. Chinese solar panel is very cheap right now with the technology, right? And that's where this sustainable technology could take become the norms, right? But you need that government push, right? And the problem is that sometimes in country like Thailand or emerging country, right? We are not as good as the US or Europe where they know when to

  69. push innovation and how to push it. in Thailand, we might have some random policy here and there. And that's where I go in and help, right? Putting my entrepreneurs perspective and sharing my startup journey is because unless they understand how entrepreneurs actually think and face, they will not be able to come up with a good policy,

  70. right? Or else it will be like a very theoretical economic kind of policy rather than something that from the ground. And that's where I'm trying to bring my my perspective in. So what so what does what does a good uh you know because there there's always the conversation about how involved should the government be in things like

  71. business entrepreneurship uh innovation you know any any of those areas so from your perspective what is the uh an ideal how involved should government be okay so so if if you look from the entrepreneur point of view right in my opinion there are two things that are most important for early early stage uh

  72. founders at least in my opinion right three things let's say there are three things one you have to identify the right problem that is big enough for you to solve right big enough means that the impact is big enough for you to care about and two hopefully there is big enough market size that you can actually survive and

  73. become a business in this area right so one is problem two you have to have good enough innovative solution that you can go in and capture the market on right pretty much you solve the problem you create values and how do you capture the values right that's the second part right and third which I think maybe

  74. entrepreneurs 10 years back when I first started didn't really care much about but but but right now the fundraising scene is quite difficult to be honest at least in Asia it's very difficult compared to seven years 10 years ago so the most important things right now in a new company is cash flow cash flows

  75. means that you have income more than outcome come and you have to think about your runway, how many months you have that your company can survive and pay your staff, pay for everything, right? And I think this is where the government is really important is that if you want an innovation to scale, if you want this

  76. technology to have the right opportunity to go to the market, government have to provide some policy that extend the runway of this company, right? Or else every this company will not survive. have to run off cash and burn out and the economy will not have new innovation right so so if you look at that

  77. standpoint there are several ways that government can do to extend the runway one they just provide grants right they say oh 100,000 USD a million USD just go out and build something right I think that's the best best thing possible but not so many country have that kind of policy two you actually subsidize the the the

  78. the the price of the service. For example, if I sell a solar panels for a,000 USD, people may not adopt, but the government say, "Okay, I'll pay 50/50. I will have a coupon where if you buy a solar panel, the government you can reimburse 50% back." I think that will start driving adoption. And I think I'm seeing that

  79. with electric vehicle in Thailand. So in electric vehicle in Thailand the government are providing this type of subsidies where it is much cheaper to buy an EV car than a diesel car or benin car for example right interesting and I think this type of things we can learn from that sector and apply to

  80. argite or clean techch in other area as well right so the main goal is that how do we extend the runway of this innovative company that they can survive long enough to establish themsel and become the norm of the market I think that's a Got it. Oh, that was so cool. Thank you

  81. for that. That was like that was like a like a university lecture, man. That was so good, you know, laid out. That really excites me. That's that's really helpful that that framework of thinking. So So finally, I appreciate you giving the the context to Recult and also what you were doing with the government. And now I

  82. want to hear more about uh this current venture that you're that you're talking about. So you said uh it's a fund you're looking to invest in companies. Um but what specifically is your thesis and why this direction? Yeah. So so so this thesis is that uh we we we are both a fund and also venture

  83. builders. So pretty much what we do is that we deploy capital to to innovative company that solve um climate or nature based issues in Thailand. And on the other side we also have a venture builders which means that if we see opportunity we will also build our own. So it's pretty much entrepreneurship under a fund pretty

  84. much. So so so pretty much we fund our early growth stage and we luckily we got some good LPS and for example two things I'm looking into now is that one uh is biochar. Biochar is pretty much if you follow the carbon removal words right now, right? The common credit carbon removal words, right? Biochar is the

  85. only I don't want to say only because it can be controversial, but let's say that it is the cheapest proven technology right now that can capture carbon at a large scale. Let's put this way. For example, right, you can buy a carbon credit of biochar for like 130 to 150 USD per ton.

  86. But if you go to like CCUs or carbon capture enhanced rock weathering or those other technology the price can goes up to 500 to 700 USD per ton right so pretty much bioch is the cheapest uh technology right now right and the reason that I'm interested in this is that global south company which mean

  87. like Thailand Brazil India all these like developing emerging country will have advantage one of the few advantage over developed country like the US of Europe. Do you know why? I don't. The reason is because biochar is made from agricultural waste, right? So pretty much the let's put it the poorer the country you are, the more

  88. agricultural waste you have because most of your population are farmers, right? So that means that if your country is not so well off, 30 40% of your population are farmers. That means that you have a tons of agricultural waste available that you can turn into biochar. And this is an opportunity that you can monetize on this and help

  89. farmers actually have a higher income, right? So, yeah. So, I so I'm I'm not super uh super well read on biochar, but from what I have read, I do believe there are some uh uh uh push back on the idea of biochar as far as like um people just using it and then dumping it somewhere.

  90. So, um what are what are some misconceptions or drawbacks of of bio? So, so, so I mean I think biochar is still developing, right? But I see some opportunities, right? Okay. First of all, right, where does the biochar stocks come from? Agricultural waste, right? And you turn it into biochar. But to make this an interesting appealing

  91. carbon credit to to to buyers or offtakers is that it must have a co- benefits. Co benefits means that oh you are not only making being biosha but you have to contribute something back to the community or the society as well. What this means is that biosha is fascinating. Do you know biosha biocha

  92. is a black it's like charcoal it's a black thing right but the fascinating thing about biocha is that it has a tons of hole in this small black thing right the surface area is huge right what this means is that if you bring it back and put into the soil for the farmers

  93. farmers can have better soil which means that they can have a higher productivity out of biochar so biochar is pretty much charging and making the soil better and Another angle I'm looking into is using as a construction material. Do you know that you can make the road asphalt carbon negative by adding bioshine into

  94. the road for example? So it would be adding not just not not making it replacing it replacing certain part. So so so let's say for a road right you have an asphalt. As for means that the thing that you put on the road, right?

  95. You can replace 10% of the material in the road with biochar in right and biochar is carbon capture which means that the um the the carbon emission of this road can become negative for example. So so so remind me how does this stuff get made? Are are farms themselves able to make it or do they have to export

  96. their waste to a facility that creates biochar and then receive it again? Yeah. So basically my concept is that what I'm doing right now in Thailand is that we have a small facility right of biochar machine a small decentralized version it is placed throughout the whole community in Thailand. What we try to do is that one village we will have

  97. one machine. The farmers can collect waste. Let's say they harvest their rice, their corn, the sugar cane. They can bring the waste, they can drive within five to 10 miles into this village center, right? And they can get income from selling the waste which normally it is zero, right? There's no use of this waste. Basically, they can

  98. get this income. Once we make it into biochar, our business model is that we sell the common credit to people who want to offset the common credit, right? But on the other hand, we give some portion of this black physical biochar back to the farmer as well so that they can use it in the soil and have a even

  99. higher income, right? So that farmers can see the benefit of of this project. Got it. Got it. Got it. So what so what what are some arguments against uh the use of biochar? like what are what are people saying as far as like some people that don't think that it's a viable technology to use? Um I I I I mean I

  100. feel that if if everyone go and read right I feel that as a carbon removal I think by I mean fact and figure can say for itself right if you look at the sales of carbon removal carbon credit in the past year 80% actually came from bioshar right I mean obviously there might be

  101. some controversy or or some push back they might say that oh by focusing too much on biochar you're losing that push on other technology that can be faster for example. Right. Okay. But by China, there's still a limit.

  102. There's a limited agricultural waste available in this world. Right. Right. So pretty much it's not enough to make the world net achieve the net zero goals. In order to achieve that goal, you still have to invest in carbon capture technology, right?

  103. Invest in other advanced technology. I think the push back is that this low price of biochar and the abundance of carbon crate right now might slow down other technology adoption. But for me, I think it has to go hand in hand and go together.

  104. Right. Right. And do you do you do you see that um happening at least in in the ecosystem in Thailand right now with the with the everything developing together these types like like you said the adoption of solar is high in in Thailand. That's right. So um so so so this is my view right. I

  105. feel that Thailand will not be able to compete on advanced carbon capture technology with the US or Europe because our innovation cap capability are not that high to be honest. But if we compete on biochar, I think Thailand can be top three in the world. Yeah.

  106. In terms of bioshar credit because we have abundant of agricultural waste and we have almost 20 million farmers, right? So, so, so, so for me right when I speak with the government, I tend to tell them that we should focus on what we are good at and have competitive advantage on rather than just competing

  107. heads on against China, against Europe or against us on things that we have no chance. Nice. All right. Two two last questions for you. Uh my first one is in the current venture that you're building uh with this with this mission this biochar this investing what is the biggest hurdle for you and how is it also an

  108. opportunity I I think biggest hurdle for me is to still to to to to find the right LP or investor or offtake of carbon credit because to be honest the the sustainability climate world I mean at least from this part of the world where I'm from from Thailand from Asia it it has been slower

  109. than I would have expected Okay, in terms of off takes they are not the the voluntary carbon voluntary carbon market are not so active right and the regulation doesn't really come in right the question is that how do we without carbon credit money financial flow from carbon credit or this carbon market bioshar project would not be able to

  110. survive right not even talking about all the advanced other advanced technology right I mean if bioshar which is cheaper easier to manage cannot survive the bigger highly innovative high-tech carbon capture technology would not be able to exist as well, right? So I think I'm still waiting for this uh sustainability carbon credit market and all this trend

  111. to pick up and the market to have more liquidity. Cool. And then lastly a for you what inspires you? You know what inspire me is that I feel that what I'm doing is not just for myself but for the community. You know, you can see that, oh, if farmers have high income, the children can afford to

  112. go to get a better education, can get a better way of life. The sad thing about children of farmers in Thailand is that they have to quit school at 12, 13 years old, pretty much middle school, because they have no income. So, they have to get a job as a labor, right, to help

  113. support their family, right? This is very sad, right? if you want to help develop the rural uh community in Thailand, right? So I I think that's the thing that I'm very very passionate about. I actually created a financial model. So that's the nerdy side of me, right? I created a financial model of income and income and

  114. expense of farmers and rural people to see that oh if I want to let's say I set a goal if I want to increase the income by 30% 40%. What are the things that I need to do? And I think I'm on path of getting there, right? Because with all this technology to help improve the

  115. yield of the farming, all this potential way to sell the waste to bioshop plant credit money coming in with regen agriculture. I think I'm trying to um set up this financial flow that can help uplift this farmers and you can see the impact toward the community. Right.

  116. And like I I will tell you right if you run a normal tech startup and you call a customer Yeah. They might hang up on you or they don't want to talk with you. But for me, right, when I call my f my farmers who are my customers, right, and friends, right, they will say, "Oh, how are you

  117. doing? Do you want to come drop by my house and I will get you some food and some fruits, for example, right? I think that's the great things about working with farmers." And they feel that you are helping them, right?

  118. Yeah, man. Well, I I'm I'm telling you like uh you know, this was what 30 40 minutes something like that. I have been following you for a long time and and you're definitely I mean it's no surprise farmers receive you that way.

  119. It's very inspiring the work that you do how you go about it. So uh I'm I would love to uh you know have more conversations talk about your your perspective your experience. I think you have great things to say and what you've shared today has been super helpful. If anyone else was inspired to follow along

  120. what's the best way to um get in touch or learn about your journey? Yeah, just just add my LinkedIn. I try to be active on there. So share my journeys and different projects that we are doing across Asia at the moment.

  121. Nice. Well, awesome. Well, again, thank you. This is super cool for me. I appreciate you uh taking the time and uh look forward to the next one. Yeah. Thanks, Blake. It has been a pleasant conversation. Thanks so much.

  122. Yeah. Right. Thank you.