Powered Carbon Secures PepsiCo Grant of $100,000 to Amplify Circular Economy Innovations

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SINGAPORE – 20 October 2023 – Following an intensely competitive initiative, PepsiCo (NASDAQ: PEP) is thrilled to announce Powered Carbon as the winner of the inaugural Greenhouse Accelerator Program – APAC Sustainability Edition.

Earlier this year, PepsiCo unveiled its commitment to championing sustainability and innovation in the Asia-Pacific region by launching the Greenhouse Accelerator program. The drive was to uncover groundbreaking solutions for sustainable packaging and impactful climate actions, crucial pillars for our pep+ (PepsiCo Positive) vision. As part of this journey, we sought solutions aligning with PepsiCo’s ambitious goal of achieving net zero emissions by 2040.

Powered Carbon was selected from a formidable group of ten finalists, each representing various countries across the APAC landscape, including China, Australia, New Zealand, Thailand, Vietnam, and Singapore. Their remarkable solution, which champions the principles of the circular economy and the imperatives of climate action, demonstrated an innovative approach to sustainability, in line with our pep+ vision of fostering a resilient and environmentally-conscious future.

Wern Yuen Tan, CEO of PepsiCo, APAC, remarked, “Congratulations to Powered Carbon. Our collaboration with Powered Carbon and our engagement with all finalists of the Greenhouse Accelerator Program signifies a vital step in PepsiCo’s commitment to net zero and responsible growth. We hope to catalyze the ecosystem, supporting entrepreneurs in addressing our shared sustainability challenges and inspiring the next generation of business leaders to drive meaningful change.”

The final judging process was both rigorous and comprehensive. Each startup underwent meticulous scrutiny by a panel of esteemed Judges – Rob Kaplan, Founder and CEO of Circulate Capital; Siow Ying Tan, Founder Vista Innovate; Terence Lee, Editor-in-Chief, Tech in Asia; Tam Thanh Nguyen, Senior Advisor (Innovation, Market and Data), AEPW, Jay Buckley, Senior Vice President and Chief Counsel, APAC, PepsiCo, Alan Choi, Senior Vice President and Chief Financial Officer, APAC, PepsiCo. They evaluated the potential of each solution based on its innovation, feasibility, go to market readiness and alignment with PepsiCo’s sustainability objectives.

All finalists were privy to an unparalleled mentorship experience, gaining insights and expertise from PepsiCo’s vast reservoir of industry experts. This four-month mentorship, coupled with a grant of USD $ 20,000, was instrumental in refining their business models, fortifying their market strategies, and enhancing their potential impact.

As the winning startup, Powered Carbon will utilise the additional grant of USD$100,000 to further develop and implement a sustainable food system while maintaining excellent produce quality. With a groundbreaking technology that utilises CO2 to cultivate bacteria for eco-friendly fertilisers, their innovative approach can reduce greenhouse gas emissions significantly as compared to traditional fertilisers. The eco-friendly fertiliser component has since been tested on potatoes in PepsiCo’s China Shandong Farm and pilot results are expected in Q4 of this year.

“We are beyond thrilled to have been selected as the winner of the inaugural APAC Greenhouse Accelerator Program by PepsiCo and are very grateful for this recognition. PepsiCo’s financial support and invaluable mentorship over the past few months has helped build our confidence to grow the business at a scale we couldn’t have envisioned before the program. We look forward to more opportunities to collaborate with PepsiCo where we can tap on our technology to reduce greenhouse gas emissions” said Dr. Xia Lin, Founder and Chief Scientist of Powered Carbon.

PepsiCo is committed to advancing sustainability, nurturing innovation, and promoting responsible growth in the APAC region and beyond. The Greenhouse Accelerator Program is one of the key steps on this journey, and we eagerly anticipate the waves of change these collaborations will usher in.

About PepsiCo:

PepsiCo products are enjoyed by consumers more than one billion times a day in more than 200 countries and territories around the world. PepsiCo generated more than $86 billion in net revenue in 2022, driven by a complementary beverage and convenient foods portfolio that includes Lay’s, Doritos, Cheetos, Gatorade, Pepsi-Cola, Mountain Dew, Quaker, and SodaStream. PepsiCo’s product portfolio includes a wide range of enjoyable foods and beverages, including many iconic brands that generate more than $1 billion each in estimated annual retail sales.

Guiding PepsiCo is our vision to Be the Global Leader in Beverages and Convenient Foods by Winning with pep+ (PepsiCo Positive). pep+ is our strategic end-to-end transformation that puts sustainability and human capital at the center of how we will create value and growth by operating within planetary boundaries and inspiring positive change for planet and people. For more information, visit www.pepsico.com, and follow on Twitter, Instagram, Facebook, and LinkedIn @PepsiCo.

For more information, please contact:
Gloria Kho at gloria.kho@edelman.com

This press release was published as it was received from our partner, without any editing from the Tech in Asia team.

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