EMG at Awards Ceremony Green Challenge 2014
The Postcode Lottery Green Challenge is the world’s largest international competition for green entrepreneurs and innovators.
Running since 2007, the Green Challenge has received high profile endorsements from former president Bill Clinton and entrepreneur Richard Branson, who chaired last year’s judging panel.
In short, the Green Challenge offers up to €500,000 for the best green product or service that can make a sizeable contribution towards cutting carbon emissions. As part of the conditions of the Challenge, the product or service must be brought to market in two years and offer innovative, entrepreneurial and courageous solutions. In addition to this, another cash prize of €200,000 is awarded to the runner up.
This year, the Postcode Lottery Green Challenge drew 324 entries from 57 countries.
Arthur Kay, the 23-years old British founder of green start-up Bio-bean won the Green Challenge 2014. The jury, chaired by Dame Ellen MacArthur, awarded the start-up €500,000 today at the final in Amsterdam to realize his green business plan.
“The atmosphere was phenomenal. It’s so inspiring to see so much positive energy channeled into constructive products that are directly contributing towards a healthier planet. The quality of the ideas demonstrated by the finalists was really superb, and I’m certain that all of them will go a long way with or without the additional funds from the Green Challenge.” said Daan Elffers of EMG, who attended the ceremony.
Bio-bean uses a patented process to upcycle waste coffee grounds into advanced biofuel products, namely biodiesel and biomass pellets, used for powering buildings and transport systems. The start-up is acting in response to the need of the production of clean, cheap, local energy and responsible waste collection and disposal.
Vietnamese Trang Tran of Fargreen won the €200,000 runner-up prize. Her company works with local rice farmers to divert the rice straws from being burnt. Fargreen’s technology uses the straws as a substrate to produce mushrooms. As a result of this process, Fargreen stops the release of GHG emissions while simultaneously helping farmers to increase their income by an astounding 50%.