Sustainable Aviation Gasoline – GAFT Secures $S1 million funding from Temasek Basis by successful the Liveability Problem 2024.
Cricket One and GAFT have emerged as the highest winners at The Liveability Problem (TLC) from a record-breaking variety of greater than 1,000 entries throughout 100 nations.
They every win S$1 million in catalytic funding on the grand finale of the seventh version of TLC 2024, held at Ecosperity Week on Wednesday, Eco-Enterprise mentioned in a press launch immediately.
Cricket One, from Vietnam, is engaged on scaling up edible bugs as superfood with a carbon footprint 100 occasions decrease than beef. GAFT, from the Netherlands, is growing a carbon-negative sustainable aviation gasoline by producing a carbon dioxide-based substitute to used cooking oils.
Introduced by Temasek Basis and organised by Eco-Enterprise, TLC is a world crowdsourcing platform that identifies and helps progressive options to scale sustainably.
This 12 months, the 2 options clinched the highest spots within the Local weather Change and Meals and Diet tracks for his or her potential in local weather change mitigation, forays in underinvested sectors, and credibility of concepts by way of in depth testing and pilot tasks.
Following a rigorous choice course of, the seven groups pitched their progressive options reside to a judging panel of established traders on the grand finale. Past the grand prize of S$2 million (S$1 million for every winner), different prizes price a complete of S$500,000 had been additionally awarded to the finalists [Appendix A].
Our planet has reached the important thing midway level for its local weather targets for the reason that Paris Settlement was signed in 2015. Daring motion should be taken throughout society to quickly decarbonise cities to succeed in the worldwide goal of decreasing world emissions by 43 per cent by 2030 as an interim step to internet zero by 2050.
The Earth’s altering local weather is threatening ecosystems accountable for a lot of our meals and people who life on land and in water rely upon.
In 2018, TLC was launched with the purpose of sparking a world hunt for progressive and sustainable options to the challenges confronted by city cities.
As we speak, TLC is Asia’s largest sustainability options platform providing the biggest prize cash. Since its first version, TLC has attracted hundreds of purposes globally, recognized 45 finalists, distributed greater than S$10 million in funding to assist start-ups who’ve gone on to lift a whole lot of tens of millions extra.
This 12 months, TLC collaborated with greater than 80 accomplice organisations to crowdsource disruptive local weather start-ups and options from around the globe. Steering committees comprising consultants from the related fields and industries had been convened to pick the most effective start-ups in every monitor.
The seven shortlisted finalist groups – GAFT, Inexperienced COP, Nandina REM, Cricket One, Terra Bioindustries Inc, tHEMEat Firm Pte Ltd and bound4blue – signify numerous nations together with Singapore, Canada, The Netherlands, Spain, and Vietnam, and had been shortlisted for his or her progressive options on local weather change, and meals and diet. The finalists additionally underwent a month of incubation and training to refine their pitches.
The judging panel was impressed with the groups’ exceptional efforts in pushing the boundaries of cutting-edge science, developing with enterprise fashions that successfully faucet on Singapore’s clean-tech ecosystem and past, demonstrating nice potential for world scalability and affect.
Mr Lim Hock Chuan, Deputy CEO of Temasek Basis, mentioned:
GAFT’s proposal of a brand new, low-cost feedstock for standard manufacturing of sustainable aviation gasoline addresses the present bottleneck of feedstock availability globally.
“It is going to pave the best way for higher adoption of sustainable aviation gasoline and considerably cut back the carbon footprint of the aviation business. We’re additionally thrilled by Cricket One’s high-quality, low-cost cricket-based protein that may have a carbon footprint 100 occasions decrease than beef. It will assist enhance the provision of nutritious and sustainable meals merchandise for the worldwide market,”
“Temasek Basis recognises the significance of catalysing help for deep-tech local weather options in addition to disruptive meals options. Our catalytic funding underscores our dedication to assist innovators produce operational prototypes which can be prepared for funding by our community of traders. It will assist the innovators commercialise their merchandise to profit our planet and folks for generations to come back. Our heartiest congratulations to GAFT and Cricket One!” Lim added.
Ms Jessica Cheam, Founder and Managing Director of Eco-Enterprise, mentioned:
These options can not scale with out funding, and for this reason TLC exists — to match capital to the most effective options and to urgently present catalytic capital to handle our existential sustainability options.
“TLC is floor zero for a way choices are made on how capital is allotted, and the place probably the most promising start-ups get this booster shot to make their improvements a actuality. We hope initiatives like TLC function a beacon of hope and underline the urgency wanted to resolve our local weather disaster,” Cheam added.
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Sustainable Aviation Gasoline – GAFT Secures $S1 million funding from Temasek Basis by successful the Liveability Problem 2024. supply
