IRVINE, Calif., July 30, 2013 /PRNewswire/ -- Newlight Technologies (www.newlight.com), inventor and manufacturer of AirCarbon™, was honored to be named "Most Innovative Company of the Year" for small businesses by the American Business Awards at an awards gala in Chicago. The national award in the large business category was won by Procter & Gamble.
Newlight has invented and commercialized AirCarbon, a material made by pulling carbon out of air containing greenhouse gas. As a result of Newlight's breakthroughs in gas conversion yield and polymer performance, AirCarbon can replicate the performance of oil-based plastics while significantly out-competing oil-based plastics on price, representing a market-driven solution to replacing oil, capturing carbon, and reversing climate change. Newlight commenced sales of AirCarbon in 2012, and demand for the company's carbon-capturing material has since grown significantly, with over 12.5 million pounds of AirCarbon under executed letter of intent to purchase.
"The impact of AirCarbon has the potential to be momentous," said Mark Herrema, Newlight CEO. "With this material, we have a tool to pull carbon out of air, use that carbon to displace carbon that would otherwise come from oil, and drive carbon capture on a market-driven basis. After ten years of work to bring AirCarbon to market, we are honored and delighted to receive this award, which is a testament to the exceptional dedication and skill of our entire team."
"This year's American Business Awards was outsized in every way," said Michael Gallagher, Stevie Awards founder and president. "More entries and more judges than ever before, and I'd have to say the most impressive collection of nominations we've ever received. We congratulate all of this year's Stevie winners for their outstanding work."
The American Business Awards are the nation's premier business awards program. All organizations operating in the United States are eligible to submit nominations: public and private, for-profit and non-profit, large and small. More than 3,200 nominations from organizations of all sizes and in virtually every industry were submitted in 2013 for consideration in a wide range of categories, including Most Innovative Company of the Year, Best New Product or Service of the Year, and Executive of the Year. Award winners were selected by more than 320 executives nationwide who participated in the judging process.
Founded in 2003, Newlight Technologies has invented and commercialized AirCarbon™, a material made by pulling carbon out of air containing greenhouse gas. As a result of Newlight's breakthroughs in gas conversion yield and polymer performance, AirCarbon can replicate the performance of oil-based plastics while significantly out-competing on price, representing a market-driven solution to capturing carbon and reversing climate change. Newlight's customers and product development partners include some of the largest manufacturers in the world, including Fortune 500 companies and brand-name market leaders. In recognition of the company's technological and commercialization achievements, AirCarbon was named "Biomaterial of the Year" in April 2013.
For more information and for media inquiries, visit www.newlight.com.
SOURCE Newlight Technologies