The Swedish Algae Factory has been announced as the winner of the 2019 Postcode Lottery Green Challenge.
Sofie Allert, CEO and founder of the start-up, convinced the international jury of the wonder and potential of deep sea algae called ‘diatoms’. In successfully pitching her company's products and healthy supply chain, Allert received the grand prize of €500,000.
"We are so happy and honoured to win this prize. This win helps us reach more personal care and solar clients and increase our production capacity faster. Algica reduces CO2 with 200 tons/kg per year when applied on solar panels and replaces harmful and less efficient ingredients in personal care. Algica is contributing towards a more circular and bio-based industry!" Allert said on the night.
The Green Challenge is one of the world's largest competitions in the field of sustainable entrepreneurship. Since 2007 the competition has supported mind-blowing entrepreneurs – each one working to build a fairer, greener world. Richard Branson has been involved in the competition since the beginning and has continuously encouraged all entrepreneurs with a great green idea to enter.
Richard shared a special message with the finalists on the night – wishing them luck for their pitches and thanking them for their important work and dedication. To watch the ceremony, Richard’s message, and to learn more about the incredible applicants – visit the Postcode Lottery Green Challenge website.
Five incredible green start-ups made it to the final stage of the challenge and whilst the Swedish Algae Factory walked away with the main prize, the first runner up, nuventura, was awarded the runner-up prize of €200,000 and €100,000 each went to Desolenator, Field Factors and TEXEL Energy Storage.