Main Sequence-backed Levur, a biotech startup looking to create a palm oil alternative from yeast using fermentation, has won $100,000 consulting advice from the KPMG Nature Positive Prize.
The Sydney startup, founded Tom Collier and Joanne Barber, was part of the SparkLabs Cultiv8 program last year, and was among five Australian startups selected from among 100 applications KPMG’s annual Nature Positive Challenge.
This year’s Challenge focused on two new themes: regenerative economy and sustainable food systems.
Levur was inspired by Collier’s visit to Borneo for a documentary looking at how the palm oil industry caused deforestation and and the survival of threatened species such as orangutans.
Palm oil is a common ingredient in food and cosmetics, including soaps.
He hopes fermentation can create a sustainable alternative.
The five finalists shared a combined $250,000 pool of tailored advisory services from KPMG, with Native Botanical Brewery from Erina on the NSW Central Coast recognised as the First Nations winner from Rainstick, the far north Queensland Indigenous cofounded startup which is harnessing electricity to mimic the natural effects of lightning to grow bigger, faster and more sustainable crops.
Coral Maker, a WA coral reef restoration company focused on technology to scale the deployment of corals. won $20,000 KPMG People’s Choice Award, with votes from the consultancy giant’s staff.
The other startup involved was Sydney’s Lord of the Trees, which is pioneering sustainable pest management through drone technology.
KPMG Australia CEO Andrew Yates said the judges chose Levur “because of their highly innovative application of science and the scale of the challenge they are tackling – replacing unsustainable plant and animal oils with sustainable alternatives”.
The widespread adoption of sustainable oils could have a tremendous global impact, maintaining biodiversity and reducing the devastating effects of deforestation,” he said.
“The goal of the KPMG Nature Positive Challenge is to shape a better future by supporting entrepreneurship that is focused on helping people and planet
Collier said winning “feels like a pivotal moment” for Levur.
“It’s a validation of the mission our team has worked so hard to make a reality and a powerful reminder of why we started this journey: to protect our planet and create solutions that leave a lasting impact,” he said.
“Thanks to this prize, we’ll be able to scale faster and reach more markets, helping to commercialise our sustainable alternative to palm oil.”
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