LONDON, April 11, 2014 /PRNewswire/ -- CleanEquity Monaco 2014, the forum for emerging cleantech and resource efficiency companies, hosted by Innovator Capital, the London boutique investment bank, concluded on Friday 28th March with the Award Ceremony in the presence of H.S.H. Prince Albert II of Monaco.
An independent panel of judges, chaired by His Serene Highness, selected Mango Materials as winner of the award for Excellence in the Field of Environmental Technology Research.
Mungo Park, Chairman of Innovator Capital commented: "How often do you come across a company or technology which can create so much positive commercial value out of such harmful a waste product; methane is a recognised threat to our planet of significant proportions."
Mango Materials, based in the San Francisco Bay Area, converts methane, a potent greenhouse gas, into a valuable resource, bioplastic. The bioplastic, called polyhydroxyalkanoate (PHA), is completely biodegradable in a wastewater treatment plant or landfill and can be converted back into methane to start the Mango Materials process all over again. Mango Materials has been working diligently to test the production of bioplastic at different scales, optimize this process, and ultimately roll-out Mango Material's production plants throughout the world. A standard Mango Materials production plant will be sized to accommodate the flow of methane at a typical landfill or water recovery facility, producing millions of pounds of environmentally friendly plastic per year.
CEO of Mango Materials, Molly Morse, was present to accept the award. "We are very honored to be chosen for this prestigious award. My team and I are working very hard to make our dream a reality and an award such as this helps drive us to our goal."
As an environmentally conscious team, Mango Materials is determined to not only remove a dangerous greenhouse gas from continuing to be emitted into the atmosphere, but also to reduce, if not eliminate, single-use, non-biodegradable, petrochemical-based plastics from ending up in our landfills, beaches, and oceans.
Contributors to the 2014 event included The Prince Albert II of Monaco Foundation, Qualcomm, Covington & Burling, The Renault-Nissan Alliance, Autodesk, PR Newswire, Kwittken, Renova Group & Polar Star Ventures, Climate-KIC, The Climate Group, the Monaco Chamber of Economic Development, the International University of Monaco and the Monte Carlo SBM.