The Postcode Lottery Green Challenge launched today to worldwide entrepreneurs with business plans that directly reduce greenhouse gas emissions. The winner of the international competition will receive €500,000 (£354,854) to develop their product or service and bring it to market within two years.
For the ninth consecutive year, the United Postcode Lotteries has issued a worldwide call for inventions that reduce carbon emissions. The international competition aims to help green start-ups bring their innovative, sustainable products and services to market. Funding for the Green Challenge is awarded from the United Postcode Lotteries, which the People's Postcode Lottery is a part of.
Last year, British entrepreneur Arthur Kay took home the main prize for his company Bio-bean. The London-based innovator patented a process to upcycle waste coffee grounds into advanced biofuel products, which can be used for powering buildings and transport systems.
Arthur Kay, co-Founder and CEO of Bio-bean, said, "I was absolutely thrilled to win the Postcode Lottery Green Challenge last year, as I was up against some impressive entrepreneurs from all over the world. The€500,000 has enabled me to take Bio-bean to the next level, and I can't believe how much we've managed to achieve in a year. We have now been able tobuild a 20,000 square-foot processing facility, which gives us the potential to recycle over 50,000 tonnes of coffee per annum.
"As well as this, we have now started to collect waste coffee from a number of major UK transport hubs, and are working with pioneering waste management and logistics companies to arrange coffee ground collection from hundreds of sites of various scales in London, using branded bags, bins, skips and trucks. I would encourage anyone with a revolutionary green business concept or service to apply for this fantastic competition."
At 23 years old, Arthur Kay was one of the youngest winners in the history of the competition and was presented his award by Dame Ellen MacArthur, the former professional solo-sailor and founder of the Ellen MacArthur Cancer Trust and the Ellen MacArthur Foundation, who chaired the jury last year.
In 2012, the Postcode Lottery Green Challenge was supported by Sir Richard Branson, who also chaired the event.
Past British-based winners include Dean Gregory, who won the competition in 2009 for his RidgeBlade MicroGeneration design, a rooftop turbine which harnesses wind power to produce renewable electricity for homes. 2009 also saw runner-up Robert Matthams secure €100,000 for shiply.com, a UK online marketplace where people list goods they want to transport and receive bids from hauliers with extra space on planned lorry trips. Shiply estimates it has saved over 33 million un-necessary truck miles; this equates to around 11.7m kg of CO2 saved.
To apply, applicants can submit their business plans online at www.greenchallenge.info. The deadline is 1st June. The winner will be chosen on 10th September during the final in Amsterdam.
For more information please contact Jenna Maxwell on email@example.com or 0131 555 8991.