American Start-up AlgiKnit Wins EUR 100,000 for Environmentally-friendly 'Seaweed Textile'

AMSTERDAM, Sept. 13, 2018 /PRNewswire/ -- The American (New York) start-up AlgiKnit won EUR 100,000 in the Postcode Lottery Green Challenge 2018. During the final, 26-year-old Tessa Callaghan impressed the international jury with her environmentally-friendly 'seaweed textile', a kelp (a type of seaweed) which is spun into yarn. In addition to AlgiKnit, LettUs Grow from the UK and AquaBattery from The Netherlands will take the same amount home. The first prize of half a million euro goes to the air bubble curtain developed  by The Great Bubble Barrier from The Netherlands. The runner-up prize of EUR 200,000 is for the textile recycle marketplace founded by Estonian start-up Reverse Resources. This brings the total prize pool of one of the biggest sustainability competitions in the world to EUR 1 million. In addition to the prize money, all five finalists will receive six months of expert coaching to improve the likelihood of their businesses succeeding.

The American start-up AlgiKnit makes fibres from kelp (a type of seaweed) 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 fibre 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.

First prize for The Great Bubble Barrier
The jury has announced that Anne Marieke Eveleens (29) of The Great Bubble Barrier from The Netherlands is the winner and presented him/her with a cheque for EUR 500,000. The Great Bubble Barrier has developed an air bubble screen for use on riverbeds that catches plastic before it arrives at sea. Approximately 80% of the plastic floating in the oceans enters the sea via rivers. In order to tackle plastic soup, The Great Bubble Barrier sends high-pressure air through a perforated tube on the riverbed. This creates an air bubble curtain that blocks both the stream of plastic waste on the surface and the floating microparticles underwater. The plastic then floats to the waterfront along the air bubble curtain, where it is collected for recycling.

Record number of entries
This year, a record number of 845 entrepreneurs from 100 countries submitted their sustainable business plans aimed at combating climate change. Last year, the Rwandan start-up EarthEnable won the EUR 500,000 first prize with their sustainable alternative to cement.

Note to editorial staff

Photography
Please find attached a photo of Tessa Calaghan. This visual material is copyright free and can be used for publicity purposes. Photo credits photo: BM Photography.

Other photo and video material
Other photo and  video material can be downloaded from http://greenchallenge.info/press at around 18:00.

General information

• Click here for the overview of the five finalists
• Click here for the composition of the international jury that will adjudicate the final of the Postcode Lottery Green Challenge 2018.
• You can find more information about the competition at: www.greenchallenge.info
• Press centre: http://greenchallenge.info/press
• Follow the Postcode Lottery Green Challenge on Twitter, Facebook and LinkedIn.

About the Postcode Lottery Green Challenge
The Dutch Postcode Lottery has organised the Postcode Lottery Green Challenge since 2007 to help contribute to a greener world. It is one of the world's biggest annual competitions in the field of sustainable entrepreneurship. The competition focuses on innovative and creative entrepreneurs who are just getting started. Green products or services that reduce CO2 emissions and score highly on design, user friendliness and quality are eligible to win. Each participant must submit a detailed business plan that is subsequently assessed by the preliminary jury. There is a total of €1 million in combined prize money for the five best start-ups, of which €500,000 is awarded to the winner. The runner-up will receive €200,000 and the three other finalists will win €100,000 each. In addition to the prize money, all finalists will receive over six months of expert coaching to optimise their business opportunities. Winning this competition will ensure a flying start, thanks in part to the publicity and network surrounding the Postcode Lottery Green Challenge. More information: www.greenchallenge.info.    

SOURCE The Dutch Postcode Lottery