Biorecro selected for The EDGE Monaco
In competion with 80 other startups from five continents, the Swedish cleantech company Biorecro has been chosen to present today to the EDGE Challenge Monaco. The event is organised by the Monaco Private Equity and Venture Capital Association MVCA in cooperation with the International University of Monaco IUM and takes place at the Oceanographic Museum of Monaco, with welcome address by HSH Prince Albert II.
The goal is to link the five most promising entrepreneurs in sustainability and social enterprise to some of the most prominent venture capitalists in the world. The sponsors include British investor network Envestors, New York based private equity firm Triago and the Swiss Private Banking group Julius Bär.
- We are excited to present in front of leading international venture capitalists. To be selected and invited to the EDGE Monaco is a feather in our cap, says Biorecro Chairman Lennart Byström. Currently the venture capital space for sustainable investments seem to be strong in places such as London, Portugal and here in Monaco. Also in Munich, were my colleagues are presenting to investors today on the Swedish Cleantech Tour 2013.
- The idea is to link together very well established entrepreneurs with up and coming entrepreneurs. We have also invited a group of venture capitalists, not the traditional, but the ones which are interested in social impact. The whole event has three pillars, innovation, profit and social impact, where we would like to look more into the caring aspects of wealth, says Zsolt Lavotha of the Monaco Venture Capital and Private Equity Association to CNBC News.
Biorecro is a Swedish cleantech company founded in 2007. The company removes carbon dioxide from the atmosphere using Bio-Energy with Carbon Capture and Storage (BECCS) technology. With BECCS, carbon dioxide—generated through photosynthesis in trees and plants—is captured from the atmosphere, and then permanently stored thousands of meters below ground. By applying the BECCS technology, Biorecro achieves a removal of carbon dioxide from the atmosphere. The Climate Cleanup service offered by Biorecro is a new alternative beyond traditional carbon offsets. Instead of just offsetting for carbon emissions, through the implementation of BECCS carbon emissions can now actually be permanenty removed from the atmosphere.
During the first half of 2013 Biorecro has initiated a new offering of shares raising 25 MSEK to fund an expansion of the sales organzation in Sweden, the UK, Germany and other parts of Europe. In addition, Biorecro is pursuing several new production-related BECCS projects in North America, Europe and Brazil.
For more information, please contact
Biorecro Chairman of the Board Lennart Byström, +46 708 533 221, firstname.lastname@example.org