AMSTERDAM — August 15, 2018 — A 500,000 euro financial injection. This is what is at stake in the Postcode Lottery Green Challenge, one of the largest annual international competitions in the field of sustainability innovation. The American start-up Algiknit is one of the five green pioneers still in the running for the prize. The start-up offers a solution that could transform the highly polluting textile industry into a circular economy. During the final on September 13, the team will be up against LettUs Grow from the United Kingdom, Reverse Resources from Estonia, and The Great Bubble Barrier and AquaBattery from the Netherlands. It will then become clear which start-up will go home with the grand prize of 500,000 euros. The runner-up will receive 200,000 euros. The other finalists will win 100,000 euros each.
Remarkably, four of this year’s five finalists are younger than 30.
Tessa Callaghan (26) is co-founder of the American start-up AlgiKnit. This company makes fibers from kelp that can be spun into yarn. By using biomaterials, AlgiKnit offers a solution that could transform the highly polluting textile industry into a circular economy. After having been used, this seaweed textile can serve as compost or animal feed. It also reduces the carbon footprint of the clothing industry, because no harmful fiber particles are lost during washing, such as is the case with polyester. The company is working on a prototype of a T-shirt and sneakers will be next.
For an overview and full description of the five finalists, please visit http://www.greenchallenge.info
The final will be held in Amsterdam on September 13.
The final will be held at the Gashouder venue in Amsterdam on September 13, 2018 and can be watched via livestream at http://www.greenchallenge.info.
Last year, the Rwandese start-up EarthEnable won the 500,000 euro first prize with its sustainable alternative to cement.
Posted August 16, 2018
Source: The Dutch Postcode Lottery