New Jersey-based BASF, a leading chemical company, and Greentown Labs, a cleantech incubator based in Somerville, Massachusetts, have announced the five startups that will be included in their Circularity Challenge, which is a six-month accelerator program designed to advance innovative solutions to enable a circular economy. The Circularity Challenge is supported by Stanley Black & Decker, New Britain, Connecticut, a leading global diversified industrial and a customer of BASF.
According to a news release from Greentown Labs, nearly 100 startups from more than 20 countries applied to the Circularity Challenge. BASF and Greentown Labs have selected the following five companies to participate in the accelerator program:
• Corumat, based in California, is a materials science company on a mission to eliminate plastic waste and fight climate change. The company uses materials science to microengineer bioplastics to make lighter, stronger and cheaper products.
• Nexus Fuels, based in Georgia, is an operational, commercially scaled 50 ton per day plant that is converting waste plastics to feedstocks, which can be converted back to virgin plastics through molecular recycling.
• Circularise, based in The Hague, Netherlands, is a blockchain transparency solution with a patent-pending “smart questioning” technology that guarantees proof of sustainability, circular economy and recycling practices for brands and manufacturers that aim for high sustainability standards and want to avoid greenwashing.
• Interface Polymers, based in Loughborough, England, is working to become a global leader in compatibility and surface functionality solutions for the polyolefin industry. The company’s unique Polarfin additives offer the plastics industry worldwide the ability to transform performance and cost competitiveness in any market application where interfacial compatibility or surface properties are important.
• American Battery Metals Corp., based in Nevada, is an American-owned company that is meeting the global battery metals supply chain challenges with innovative, environmentally sustainable solutions. The company’s vertical strategies leverage its exploration and mining operations with self-supporting extraction and battery recycling divisions.
According to a news release from Greentown Labs, these five participants in the Circularity Challenge will receive $25,000 in nondilutive grant funding, acceptance into Greentown Launch (a six-month accelerator program for startups at Greentown Labs), partnership with or investment from BASF by the end of the program, access to select BASF testing capabilities, exclusive access to the Greentown Labs and BASF networks, desk space at Greentown Labs Global Center for Cleantech Innovation, potential access to BASF-sponsored bench in Greentown’s wet lab, potential for joint ISO-standardized eco-efficiency analysis with BASF and the opportunity to connect with multiple stakeholders across industries.
In addition, the Circularity Challenge will feature six two-day workshops to highlight the participants and their industries. Greentown Labs reports that these partners will host a culminating event in 2020 to share startup progress, accomplishments and results.
“By collaborating with these five companies alongside Greentown Labs and our customer Stanley Black & Decker in the Circularity Challenge program, we strive to further sustainable innovation in the circular economy related to plastics, battery materials digital tools,” says Peter Eckes, president of bioscience research and regional research representative North America at BASF.
“We know the circular economy will make an enormous impact not only on the environment but also on value chains, economic growth and the deployment of new innovations,” says Emily Reichert, CEO of Greentown Labs. “We were inspired to see great applications from almost 100 entrepreneurs from around the world and we are excited to support these five selected companies as they progress throughout the program and work alongside experts from BASF.”