Green Startup Bio-Bean Wins $680,000 in Postcode Lottery Green Challenge
AMSTERDAM, Sept. 12, 2014 /PRNewswire/ -- Arthur Kay, the 23-year-old British founder of environmentally sustainable startup bio-bean, has won the Postcode Lottery Green Challenge 2014. The jury, chaired by Ellen MacArthur, awarded Kay euro 500,000 ($680,000 USD) at the final in Amsterdam to realize his green business plan.
Kay's company 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. Bio-bean is acting in response to the need to produce clean, cheap, local energy while responsibly collecting and disposing of waste.
"This is fantastic!" says Kay. "With this prize money we can scale up production to other locations throughout the UK; we also want to expand internationally. The cash prize will enable us to develop new technologies and products, securing bio-bean's market position."
Runner-up prize
Bio-bean was judged against four other finalist startups: Dutch startups Bluerise and One Nights Tent, Turbosail from France, and Fargreen from Vietnam. Trang Tran of Fargreen was awarded with a euro 200,000 ($272,000 USD) runner-up prize. Her company works with local rice farmers to divert the rice straws from burning, instead using the straws as a substrate to produce mushrooms. As a result of this process, Fargreen stops the release of GHG and helps farmers increasing their income by 50 percent.
Ellen MacArthur impressed by finalists
Ellen MacArthur, British ex-solo sailor and founder of the Ellen MacArthur Foundation, says, "I'm impressed with the business plans I have seen today, reaffirming that business innovation is a major force for positive change. Like never before, entrepreneurs have an incredible opportunity to shape the future and I can see bright prospects for these startups."
Hundreds of entries received
Every year since 2007, the Dutch Postcode Lottery has challenged people around the world to enter its Green Challenge by submitting sustainable, creative and innovative products and services that reduce carbon emissions. This year, the Postcode Lottery Green Challenge drew 324 entries from 57 countries.
Note to the editor:
For more information and photos:
- General: www.greenchallenge.info
- Press room: http://www.greenchallenge.info/index.php/press
- Follow the Postcode Lottery Green Challenge on Twitter and Facebook
For interview requests with the winner Arthur Kay or one of the other finalists, please contact Monica Belgum via [email protected]
About the Postcode Lottery Green Challenge
The Dutch Postcode Lottery has held the Green Challenge every year since 2007 as part of its efforts to make the world a greener place. The Postcode Lottery Green Challenge, the world's biggest annual sustainable innovation competition, is aimed at creative, innovative thinkers. Every eco-friendly product or service that cuts CO2 emissions and excels on design, user-friendliness and quality has a chance to win. Entrants submit detailed business plans for consideration by an expert preliminary jury. Previous winners have achieved success with their inventions, in part thanks to the publicity and contacts they obtained through the Postcode Lottery Green Challenge. www.greenchallenge.info
The Dutch Postcode Lottery was founded in 1989 to support charitable causes. Today, 2.5 million people in the Netherlands play every year, vying for hundreds of thousands of prizes each month. As they play, they're supporting charitable causes: half the price of each ticket is distributed among 90 charitable organisations. Since the Postcode Lottery's founding, it has donated more than €4 billion to organisations working on behalf of humanity and the natural environment.
For more information please contact:
Monica Belgum
E: [email protected]
P: (415) 677-2713
SOURCE Postcode Lottery Green Challenge
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