Mondi invests in company that recycles food waste

Austria-based Mondi, a global packaging and paper manufacturer, says it is backing a contest-winning firm that makes compostable polyhydroxyalkanoate (PHA) plastic from food waste with a $50,000 award.

Canada-based Genecis Bioindustries was the winner of a Lead2030 award. Lead2030 was launched by London-based One Young World, which calls itself a global forum for young leaders, to support youth-led innovation that contributes to the United Nations’ Sustainable Development Goals (SDGs).

As a Lead 2030 winner, Genecis was awarded $50,000 from Mondi plus 12 months of corporate mentorship focused on business development, marketing/communications support and technical mentorship on the potential market applications of PHA polymers in packaging. 

“We are convinced that collaboration is the key to achieving the SDGs, and with Genecis as this year’s winner, we have a perfect example of young innovators working to solve global challenges that no one business or sector can achieve on their own,” says Gladys Naylor, Mondi Group’s head of sustainable development.

“Lead2030 will be a fantastic platform from which we can accelerate our technology and inspire an entire generation of young people to solve challenging problems,” says Luna Yu, Founder of Genecis Bioindustries.