Vertoro Receives Technology Development Award at CleanEquity® Monaco 2021
LONDON, Aug. 5, 2021 /PRNewswire/ -- CleanEquity® Monaco 2021, the forum for sustainable technology innovation, hosted by Innovator Capital and the Monaco Economic Board, closed on Friday, 23rd July with the Awards Ceremony in the presence of His Excellency, Monsieur Bernard Fautrier.
An independent panel of industry expert judges selected Vertoro to receive the Award for Excellence in the Field of Environmental Technology Development.
Mungo Park, Chairman of Innovator Capital commented: "Vertoro is supporting all of us on its path away from fossil fuel dependency by providing a sustainable alternative compatible with existing infrastructure, making for a seamless transition."
Vertoro, founded in 2017, is a spin-off from a public-private consortium, including two Dutch Universities and Royal DSM. Vertoro converts residual biomass from existing operations (saw dust, coffee grounds, lignin) into a liquid platform product, Goldilocks®, which can readily be used as sustainable feedstock for existing fossil oil refineries and petrochemical plants. This will enable their fossil-world customers to produce carbon-neutral fuels, chemicals and materials, with existing legacy assets. Together, they will prevent a cumulative 1 billion tons in CO2 emissions by 2030.
Michael Boot, Co-founder and CEO of Vertoro said: "We were humbled by the high quality of presenting companies and honored to have been one of the award recipients. At Vertoro, we produce sustainable alternatives to several fossil products, including marine fuels. The opportunity to pitch in Monaco against the backdrop of magnificent ships in the bay was therefore certainly a unique opportunity. We furthermore met several investors who could help us raise our next (15M€) Series B round later this year."
CleanEquity thanks, in particular: The Prince Albert II of Monaco Foundation, Cision, Covington & Burling, Cranfield University, MIT Solve, the Monaco Economic Board, Parkview and Taronis Fuels.
CleanEquity Monaco will be returning to the Principality of Monaco in 2022.
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