AMSTERDAM, 11 September 2014 – Arthur Kay, the 23-years old British founder of green start-up Bio-bean has won the Postcode Lottery Green Challenge 2014. The jury, chaired by Ellen MacArthur, awarded the start-up €500,000 today at the final in Amsterdam to realize his green business plan.
His 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 of the production of clean, cheap, local energy and responsible waste collection and disposal.
Arthur Kay: “This is fantastic! 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.”
Bio-bean went up against four other startups: Dutch start-ups Bluerise and One Nights Tent, Turbosail from France and Fargreen from Vietnam. The Vietnamese Trang Tran of Fargreen was awarded with a €200,000 runner-up prize. Her company works with local rice farmers to divert the rice straws from burning. Fargreen’s technology uses 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%.
Ellen MacArthur impressed by finalists
Ellen MacArthur, British ex solo sailor and founder of the Ellen MacArthur Foundation, said: “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 start-ups.”
Hundreds of entries received
Every year, since 2007, the Dutch Postcode Lottery has challenged people around the world to enter the competition by sending in sustainable, creative, innovative products and services that reduce carbon emissions. This year, the Postcode Lottery Green Challenge drew 324 entries from 57 countries.