Enexor BioEnergy LLC has caught the eye of more big name corporate logos.
The Franklin-based renewable energy firm has been selected to the 100+ Accelerator, which aims to find solutions to environmental and social challenges, according to a news release.
The 100+ Accelerator is sponsored by AB InBev, Unilever, The Coca-Cola Company and Colgate-Palmolive. Enexor is one of 36 startups, 13 of which are from North America, to be chosen for the program from a pool of more than 1,000 applicants to solve the corporate sponsors' most daunting sustainability problems, according to the release.
Founded in 2015, Enexor manufactures a renewable energy system that converts nearly any type of organic waste, such as cardboard or animal waste, into energy. The units are modular, about the size of a storage pod, and can generate 75 kilowatts of power per hour.
The startups selected will launch multiple pilots with the sponsors, according to the release, with Enexor working in the climate action space.
“Enexor BioEnergy’s ability to convert organic waste, biomass, and plastic into affordable renewable energy and carbon and plastic credits addresses numerous challenges affecting our corporate partners,” Maisie Devine, AB InBev’s global director and managing partner of 100+ Accelerator, said in the release. “We are excited to welcome them into our Accelerator program, and we envision their launching pilots with all of our corporate partners to address these issues and becoming a key solution in our efforts to mitigate climate change.”
The announcement comes a little more than a month after Enexor secured $10 million in funding from auto industry giant BorgWarner Inc. (NYSE: BWA). Earlier this year, Enexor was one of 11 companies in North America to be selected to participate in Google’s first Google for Startups Accelerator: Climate Change and in February the company landed a select spot in a new clean-tech accelerator program run by oil giant Halliburton Co.
“We are honored and excited to be joining the 100+ Accelerator,” Enexor founder and CEO Lee Jestings said in the release. “We look forward to launching pilots with AB InBev, Unilever, Coca-Cola, and Colgate-Palmolive to convert the organic and plastic waste generated in their day-to-day operations into affordable renewable energy, helping them to concurrently save money on their energy and waste costs while expediting the achievement of their sustainability goals.”
