One of Asia’s largest banks and Asia’s leading provider of airport food solutions and gateway selects Renewable Energy Pioneer as the winner of its inaugural competition and a pilot at Singapore airport.
FRANKLIN, Tenn. (October 18th, 2022) – Enexor BioEnergy, LLC, of Franklin, Tenn., manufacturer of a renewable energy and carbon conversion solution to help solve the world’s organic, biomass, and plastic waste problems, today announced that it won the OCBC Bank and SATS Ltd.’s inaugural Sustainability Innovation Challenge.
The Sustainability Innovation Challenge was launched as part of OCBC Bank’s climate strategy under its Innovation and Technology pillar and was tasked with identifying sustainability-related challenges faced by its corporate customers, and source for solutions from around the world that can be commercialized. This year marked the inaugural edition of the Challenge with SATS Ltd. (SATS), Asia’s leading provider of food solutions and gateway services, being the first Challenge Owner. Almost 100 companies and start-ups from 24 countries submitted applications.
As the winner of this Challenge, Enexor will receive S$80,000 pilot funding from OCBC Bank and partner with SATS, to install its Bio-CHP systems at the Changi Airport (Singapore) to convert SATS’ catering operations organic and plastic waste streams into onsite renewable energy. The funding will go towards the pilot design and implementation, including site assessments, permitting, carbon credit validation and verification efforts, and feedstock testing and feasibility studies.
Mr. Spencer Low, Chief Data and Sustainability Officer at SATS and one of the judges, said, “Congratulations to Enexor BioEnergy…for showcasing the most compelling and scalable waste management solutions. It was truly heartening to witness the passion and dedication of the participants toward protecting people and planet. As SATS expands our geographic reach, we remain committed to replicating our Sustainability initiatives globally to deliver greater community impact. Working collaboratively with the winning teams and OCBC Bank, the SATS team is eager to test the innovative solutions in our real-life operations. Our customers look to us as a strategic partner, and we will do our utmost to treat waste in the right manner and meet our goal of halving food waste intensity by 2028.”
Mr. Mike Ng, Head of Global Wholesale Banking Sustainability Office, OCBC Bank, who was also on the panel of judges, said, “There are many innovative ideas out there that can be developed and commercialized…Enexor BioEnergy will be able to pilot their solutions in a real-world setting with SATS, and contribute further to SATS’ objective of sustainable food waste management…As we support our customers along their sustainability journey, we will in turn drive OCBC’s own progress towards the decarbonization of our lending and investment portfolios, hence it is a win-win for our customers, ourselves, and the environment.”
Enexor’s patented Bio-CHP system converts almost any organic, plastic or biomass waste into reliable, renewable power and thermal energy while concurrently reducing carbon emissions, creating carbon and plastic credits, and ultimately mitigating climate change. Modular and easily transportable, the plug-and-play design of this powerful system allows for quick deployment and on-site mobilization in most places around the world. Enexor’s unique business model also enables immediate cost savings and environmental sustainability for its customers.
This selection builds on Enexor’s tremendous growth, which has seen it quickly being recognized across the world as a leading renewable energy solution to combat Climate Change. Notably honors have included securing a large Series A investment from BorgWarner Inc. (NYSE: BWA), being selected into the 100+ Accelerator sponsored by AB InBev (NYSE: BUD), Unilever (NYSE: UL), Coca-Cola (NYSE: KO), and Colgate-Palmolive (NYSE: CL), Google’s (NASDAQ: GOOGL) Climate Change Accelerator, Halliburton Company’s (NYSE: HAL) Clean-Tech Labs Accelerator, winning the United Nations World Tourism Sustainable Development Goals Startup Competition, and being recognized as the “Most Innovative” startup at CapitaLand Sustainability Challenge 2022.
About Enexor BioEnergy
Enexor BioEnergy provides on-site, renewable energy and carbon conversion solutions to help solve the world’s organic waste and plastic waste problems. Enexor’s patented bioenergy system derives value from organic and plastic waste by producing 24/7 continuous power and thermal energy for facilities and microgrids worldwide. Enclosed within a 20-foot custom shipping container, the Bio-CHP systems are designed to be deployable next to a retail store in the United States, hurricane-exposed areas in the Caribbean or a village in Africa. Enexor manufactures its systems at its headquarters in Franklin, Tenn., a Nashville suburb. More at www.enexor.com.
Oversea-Chinese Banking Corporation, Limited, often known as OCBC Bank, is a Singaporean multinational banking and financial services corporation headquartered in OCBC Centre, Singapore. OCBC Bank is the longest established Singapore bank, formed in 1932 from the merger of three local banks, the oldest of which was founded in 1912. It is now the second largest financial services group in Southeast Asia by assets and one of the world’s most highly rated banks, with Aa1 by Moody’s and AA- by both Fitch and S&P. Recognized for its financial strength and stability, OCBC Bank is consistently ranked among the World’s Top 50 Safest Banks by Global Finance and has been named Best Managed Bank in Singapore by The Asian
Pei Yi Wen
Marketing & Communications
SVP, Enexor BioEnergy