Two founders are quietly reshaping Africa’s agritech and climate landscape,and they are doing it with palm waste.
When Ikenna Nzewi and Uzoma Ayogu launched Releaf in 2017, they started with a bold idea: Africa’s broken food systems could be fixed with the right technology. Today, that idea has evolved into a fast-growing agritech company that has raised more than $10 million while unlocking value from one of agriculture’s most overlooked resources,waste.
The company has moved beyond its early marketplace model and now builds proprietary processing technology for Nigeria’s palm oil sector. At the same time, it is turning agricultural waste into a climate-focused revenue stream.
From the beginning, the founders knew the challenge would be complex. Although they gained early backing from Y Combinator, their initial experiments did not immediately produce results. They tested multiple models, including trade finance and supply chain marketplaces, before finding a scalable opportunity.
That turning point came when both founders returned to Nigeria. While traveling across the country, they discovered deep inefficiencies in the palm oil value chain.
Nigeria once dominated global palm oil production, contributing over 40% between the 1950s and 1970s. However, the country now produces less than 2% of global supply and spends about $600 million annually on imports. The issue is not demand—it is inefficiency.
Smallholder farmers still rely on manual processing methods that are slow and wasteful. In many cases, up to a quarter of harvested produce is lost. Nzewi described the process as physically demanding and economically limiting, with farmers cracking only a few metric tons weekly using basic tools.
Releaf responded by building Kraken, a proprietary palm nut processing system designed for African conditions. Unlike imported machines that cost hundreds of thousands of dollars and fail to handle local crop varieties effectively, Kraken delivers both efficiency and affordability.
When the system launched in 2021, it processed up to 500 metric tons per week with high purity levels. It also operated significantly faster than traditional methods and reduced waste across the value chain. This innovation quickly attracted investor confidence, helping the company secure $4.2 million in seed funding.
The company later improved the system with Kraken II, which introduced operational flexibility and reduced downtime. This upgrade allowed multiple processes to run simultaneously, improving output and lowering maintenance risks.
As Releaf scaled its processing capabilities, a new opportunity emerged,not from the core product, but from its byproducts. Palm kernel shells, long treated as waste, became the foundation of a new business line.
This shift led to the launch of Releaf Earth, the company’s climate-focused division. Instead of discarding biomass, the company now converts it into biochar, a stable form of carbon that can remain in soil for centuries.
Biochar offers both environmental and economic value. It improves soil fertility, boosts water retention, and increases crop yields. Farmers using the product have reported yield improvements of up to 23%, creating a strong incentive for adoption.
At the same time, Releaf generates revenue through carbon credits sold on international markets. These credits, priced between $150 and $200 per ton of CO₂ equivalent, provide a dollar-denominated income stream. Biochar itself sells for as much as $600 per ton, strengthening the company’s margins.
This dual-revenue model has become critical in a tougher funding environment. Venture capital inflows into African startups have slowed, and investors now demand clearer paths to profitability. Releaf has responded by focusing on strong unit economics and scalable climate solutions.
However, the path is not without risks. Climate tech operations require reliable infrastructure, especially in rural areas. In addition, carbon credit markets remain complex and require strong verification systems and trusted buyer networks.
Despite these challenges, Nzewi believes collaboration will define the sector’s future. He argues that companies must focus on quality and partnerships to build credibility in global carbon markets.
Looking ahead, Releaf has set ambitious targets. By 2030, the company aims to remove 700,000 metric tons of carbon dioxide, recycle 50,000 tons of waste, and produce 20,000 tons of biochar annually. It also plans to impact over one million farmers while creating more than 500 jobs.
What started as a student idea has now become one of Africa’s most closely watched agritech success stories. By turning waste into value, Releaf is proving that innovation in agriculture can drive both economic growth and climate impact.
