Foremost Sequence-backed Levur, a biotech startup seeking to create a palm oil various from yeast utilizing fermentation, has received $100,000 consulting recommendation from the KPMG Nature Constructive Prize.
The Sydney startup, based Tom Collier and Joanne Barber, was a part of the SparkLabs Cultiv8 program final 12 months, and was amongst 5 Australian startups chosen from amongst 100 functions KPMG’s annual Nature Constructive Problem.
This 12 months’s Problem targeted on two new themes: regenerative financial system and sustainable meals methods.
Levur was impressed by Collier’s go to to Borneo for a documentary how the palm oil trade prompted deforestation and and the survival of threatened species corresponding to orangutans.
Palm oil is a typical ingredient in meals and cosmetics, together with soaps.
He hopes fermentation can create a sustainable various.
The 5 finalists shared a mixed $250,000 pool of tailor-made advisory companies from KPMG, with Native Botanical Brewery from Erina on the NSW Central Coast recognised because the First Nations winner from Rainstick, the far north Queensland Indigenous cofounded startup which is harnessing electrical energy to imitate the pure results of lightning to develop greater, sooner and extra sustainable crops.
Coral Maker, a WA coral reef restoration firm targeted on expertise to scale the deployment of corals. received $20,000 KPMG Folks’s Selection Award, with votes from the consultancy big’s workers.
The opposite startup concerned was Sydney’s Lord of the Bushes, which is pioneering sustainable pest administration by drone expertise.
KPMG Australia CEO Andrew Yates mentioned the judges selected Levur “due to their extremely modern software of science and the size of the problem they’re tackling – changing unsustainable plant and animal oils with sustainable options”.
The widespread adoption of sustainable oils might have an amazing world influence, sustaining biodiversity and decreasing the devastating results of deforestation,” he mentioned.
“The aim of the KPMG Nature Constructive Problem is to form a greater future by supporting entrepreneurship that’s targeted on serving to individuals and planet
Collier mentioned successful “seems like a pivotal second” for Levur.
“It’s a validation of the mission our workforce has labored so laborious to make a actuality and a strong reminder of why we began this journey: to guard our planet and create options that depart an enduring influence,” he mentioned.
“Because of this prize, we’ll be capable to scale sooner and attain extra markets, serving to to commercialise our sustainable various to palm oil.”
