Frankfurt am Main, Germany, 28 June 2018 – The clim@ competition has announced three winners in 2018 at the Sustainable Future Forum, initiated by the Green for Growth Fund (GGF). In front of a panel of expert judges and over 250 international investors, financial institutions and climate action leaders, Inspidere was awarded first place and EUR 15,000 to grow their business that uses an innovative method and technology to transform cow manure into biomaterials for producing clothes and other products. Biomyc was awarded EUR 10,000 for their novel approach in developing sustainable packaging solutions out of agricultural waste and mushroom mycelium, and Nüwiel received EUR 5,000 for their solution to urban freight mobility issues through their electric bike trailer. In addition, effa and TRC were recognized as honorable mentions for their initiatives in developing a sustainable paper-based disposable toothbrush to reduce plastic waste and the recovery of fiber reinforced composites offering a recycling and waste management solution.
clim@ was launched by the GGF in 2018 to find, showcase and support pioneering businesses and projects in the fields of sustainable energy and resource efficiency that have the power to change current practices and have a strong positive climate impact. clim@ received more than 260 entries from 80 countries worldwide, covering an impressive range of creative high-impact solutions to ‘green’ the way we produce and consume. Fifteen finalists were invited to Frankfurt on 25 June for the clim@ pitching event where an experienced jury selected five grand-finalists that went on to compete for awards at the Sustainable Future Forum.
Diana Wesselius, Member of the Board of Directors of GGF and a member of the final judging panel, explained the final vote: “All five finalists presented cutting-edge ideas and strong business models to tackle climate challenges and drive the green transformation, with remarkable entrepreneurial spirit. In the end, Inspidere convinced us most in all three categories of impact, innovation and business case.”
By creating biomaterials that can be used as an alternative resource in the clothing industry, Inspidere’s business model provides a circular economy solution to the challenge of manure disposal, while providing farmers with a new revenue stream from this waste.
Jalila Essaidi, Director of Inspidere, said: “I am very honored and thankful to be part of this big movement organized by the Green for Growth Fund and Finance in Motion. Through the clim@ award we'll get one step closer to implementing a fashionable way to protect the planet.”
GGF Chairman, Christopher Knowles, said: “clim@ gave pioneering entrepreneurs and innovative businesses the opportunity to meet potential sponsors and investors – leveraging the network and reach of the Green for Growth Fund and its partners – while competing for awards that can help them develop and scale-up their ideas. In this way clim@ complements the work of the Green for Growth Fund, by supporting innovations that will play a role in setting us on a path towards a sustainable future.”
clim@ was organized by Finance in Motion GmbH on behalf of the GGF Technical Assistance Facility (TAF) and sponsored by the European Commission and the German Federal Ministry for Economic Cooperation and Development (BMZ).
ABOUT THE GGF
The GGF helps reduce the use of energy and resources and prevent CO2 emissions. It pursues this goal by providing dedicated financing to businesses and households across 19 markets in the Southeast Europe Region including Turkey, the European Neighborhood Region-East, and the Middle East and North Africa. By using a blended finance structure and working through local partner institutions, the GGF is able to raise awareness and implement green finance activities. The fund combines its financial offering with tailored technical assistance that helps build capacity and which brings energy efficiency measures, renewable energy, and improved resource management toward the mainstream. In addition, by managing the environmental and social (E&S) risks associated with its investments, the fund sets standards for its partners and supports them to enhance their own E&S management systems, as required.
The GGF was initiated as a public-private partnership in December 2009 by Germany’s KfW Development Bank and the European Investment Bank, with financial support from the European Commission, the German Federal Ministry for Economic Cooperation and Development, the European Bank for Reconstruction and Development, and the Austrian Development Bank (OeEB). The fund’s growing investor base comprises donor agencies, international financial institutions and institutional private investors, including the International Finance Corporation, the Dutch development bank FMO, and the German ethical bank GLS. The GGF is advised by Finance in Motion GmbH. MACS Management & Consulting Services GmbH, Frankfurt am Main acts as the technical advisor.
For more information see www.ggf.lu and follow us on Twitter @GreenGrowthFund
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