Kvasir Technologies, a Danish clean-tech scale-up with pioneering technology to produce sustainable waste-based biofuel, proudly announces a remarkable triple victory in the prestigious2023 New Energy Challenge. This renowned global competition, dedicated to startups and scale-ups in the renewable energy sector, has played a pivotal role in fostering groundbreaking solutions to address today’s pressing environmental challenges.
Last night, Kvasir Technologies was awarded with three prizes at the 2023 New Energy Challenge award event in the Hague. Kvasir won Scale-up Category, People’s Choice Award, and an exclusive ETCA membership.
Anders Kristoffersen, Co-founder and COO of Kvasir Technologies, expressed his gratitude for this remarkable achievement after the winners were announced at a festive event in The Hague late last night. He stated,
‘We embarked on this journey with pride and gratitude as one of the top 10 finalists. Today, we are over the moon and honored to claim a triple win in the Scale-up Category, People’s Choice Award, and an exclusive ETCA membership. This recognition is a strong testament to our team’s dedication and hard work.”
It is Kvasir Technologies’ mission to push the boundaries of climate-friendly innovation and drive the adoption of sustainable fuels in hard-to-abate sectors like the marine industry with its pioneering technology. Co-founder and CEO Joachim Bachmann Nielsen conceived the core technology during his PhD research and has meticulously refined it over the past 12 years. In 2018, he and co-founder Anders, who brings 15 years of experience in shipping and energy trading, joined forces to establish Kvasir Technologies. Their combined expertise and industry insights provide a robust foundation for the company’s success so far.
“This is significant for us. Our technology has demonstrated the ability to replace fossil fuel oil in the shipping industry, without the need for costly vessel retrofitting or new fleet investments. Winning the NEC competition is therefore hugely valuable for us as we scale and prepare commercialization of our biofuel – pushing the boundaries towards a greener tomorrow,” Bachmann Nielsen said.
The ETCA membership, is an exclusive privilege for Kvasir Technologies as it offers a unique opportunity to collaborate with global energy leader Shell, on advancing energy transition research and development. In addition, alongside Kvasir T echnologies, Freetilizer, a visionary organic fertilizer producer, also emerged as a winner in the startup category. Freetilizer’s innovation revolves around converting organic by-products into high-quality organic fertilizers within 24 hours.
Geert van de Wouw, Managing Director of Shell Ventures and president of the New Energy Challenge jury, commented:
“Each participant has presented promising solutions that could contribute to a more sustainable energy future. Collaborating with startups is a cornerstone of innovation and growth in today’s dynamic business landscape. We recognize the importance of supporting emerging startups, their innovative ideas need a stage and investments to flourish and become scalable. Finding a match with corporates is often complicated, this is where programs like the New Energy Challenge play an important role. We look forward to further working with the winners.”
Kvasir Technologies’ success in the 2023 New Energy Challenge reflects its commitment to revolutionizing the renewable energy landscape and advancing sustainable solutions for a greener future.
About the New Energy Challenge
The New Energy Challenge, is a competition for startups and scaleups in renewable energy, jointly organized by Rockstart,Shell, Unknown Group, and YES!Delft. The New Energy Challenge is a platform known for propelling promising ventures toward success. Its mission is to nurture innovations that drive the adoption of sustainable energy, making the world a greener and better place. Read the winner announcement and explore the NEC website.
About Kvasir Technologies
Kvasir Technologies, established in 2018 as a spin-out from the Technical University of Denmark, is a Danish clean-tech company specializing in innovative biofuel production. Our technology converts non-edible waste-based biomass into a 1:1 substitute for fossil fuel in a simple, sustainable, and scalable way. We offer a CO2-neutral drop-in biofuel with no switching costs or added storage cost. With a dedicated team of experts, we are committed to advancing sustainable energy solutions. For more information about Kvasir Technologies and its pioneering biofuel technology, visit the website.
About Freetilizer
Freetilizer is an innovative Portuguese company that utilizes enzymatic hydrolysis in a controlled reactor to convert organic byproducts into stable and nutrient-rich solid and liquid organic fertilizers within 24 hours. This approach reduces operational costs, eliminates waste, and generates valuable fertilizers, aligning with circular economy goals and providing a profitable solution for manure management, visit the website.
Contact
Anders Bak Kristoffersen, Co-founder & COO
+45 5376 3666
