NEWCO2FUELS (NCF) SELECTED AS A FINALIST TO COMPETE IN SHENZHEN INNOVATION COMPETITION OF INTERNATIONAL TALENTS
IN SHENZHEN, CHINA, APRIL 15, 2016
Tel Aviv -
(NCF), an Israeli start-up that has created a new technology which transforms CO2 emissions into a clean fuel that can be sold as a commodity, has been selected as a finalist out of more than 100 Israeli companies to attend and compete in the Shenzhen Innovation Competition of International Talents at the Shenzhen Exhibition Center in China, April 15, 2016.
As one of five chosen Israeli initiatives, NCF will compete against 24 other finalists from Tel Aviv, Munich, Sydney, Tokyo, and Silicon Valley. The competition received over 800 entries in its preliminary stages, with 5 start-ups selected as winners from each location, for the honour to compete April 15 2016 in Shenzhen.
This is the first year in which the
enzhen Innovation Competition has been extended to international participants, hoping to attract new talents and initiatives to the Chinese market. The winner of the competition will not only be offered prize money, but an incentive package, including expert consultation, to aid with integration in the Chinese economy. While many of the participants come from the biomedical field, NCF aims to help the fight against global warming and climate change.
"It is a pleasure and honor to be part of a remarkable group of companies in this content," says David Banitt, Founder and CEO, NewCO2Fuels. "This accomplishment joins the many other recognitions of the company gained recently from various groups, intensifying the affirmation of the innovation of NewCO2Fuel product as well as its urgent global need, specifically in China."
Located adjacent to the prestigious Weizmann Institute of Science outside of Tel Aviv, NCF stands out amongst clean tech companies by having created a self-sufficient system that requires no additional feedstock or energy source other than waste streams namely CO2 and excess heat of major energy-based industries. NCF'S
heat-powered and CO2-reducing plant allows companies to transform their harmful, earth-threatening waste into a clean, sustainable "syngas" that can be converted into commodities such as chemicals, fertilizers and fuels.
With the recent Paris Summit (COP21) behind us, international business and government sectors connected
with green innovation companies in order to accelerate both international sustainable development and the 'green economy'. NewCO2Fuels offers a viable economic solution while reducing green house gas emissions.
These clean products can be sold at present market prices while being profitable to their producers with no need of governmental incentives or subsidies.
Among NCF's growing international validation and recognition is the receiving of several awards and grants, including: the winner of "Innovation Potential" at The 2015 International Quality Innovation of the year awards ceremony in Estonia,
The 2014 World Technology Network (WTN) award for Energy (corporate category), joining a prestigious list of past WTN award dinners including 3M, Amazon, Google and Facebook and others; naming by the Australian Government as a future fuel in its Alternative Liquid Fuel Technology Assessment report; The BIRD Foundation supporting a joint development of NCF and Acumentrics from the US; and the awarding of several grants from the Israeli Government to assist in the development of its innovative product.