Start-up Air Company wins prize for innovative use of CO2

more imagesdownloadThe Innovation Award made of Covestro materials honours start-ups for the particularly innovative use of CO2.

The climate gas carbon dioxide could be used as a raw material for a sustainable vodka or for tangible products like yogamates. Also filters that can capture and store CO2 with the help of renewable energy sources are possible: The start-ups that have applied for the prestigious award for the most innovative use of climate gas at the nova Institute's digitally-held ?8th Conference on Carbon Dioxide as Feedstock for Fuels, Chemistry and Polymers? show how carbon dioxide can be useful. The new solutions are now increasingly benefiting end-users, for whom sustainability is important.

The winner of the ?Best CO2 utilization 2020? award is the American start-up Air Company from New York, turning the climate gas CO2 into high-quality alcohol using a new technology. First application is a sustainable vodka. The start-up receives marketing and PR support. A total of 13 young companies participated in the contest, which Covestro is supporting for the second time as its main sponsor together with nova Institute and the industry organization CO2 Value Europe. Five business ideas from four nations were shortlisted and were reviewed online by the approximately 100 participants of the conference.

Sucheta Govil, Chief Commercial Officer of Covestro, responsible for innovation, awarded the winner during the online conference: ?Start-ups like Air Company are crucial to ensure that CO2 is no longer seen as a problem only, but as a solution. The ideas presented by the innovative start-ups demonstrate how a meaningful use of CO2 adds value throughout the value chain. While we use carbon dioxide as a resource, our customers develop products out of CO2 that are particularly attractive to end users.?

Even in the current challenging situation due to the spread of the Coronavirus, developers and founders worldwide continue to work on solutions for climate protection. ?This year's conference shows how important research on the use of CO2 is for sustainable development and that ambitious researchers make important contributions, which are recognized by our prize?, stressed Michael Carus, Director of the nova Institute and organizer of the online conference.

Covestro already successfully uses carbon dioxide as a raw material. Since 2016, the material manufacturer has been using CO2 to produce polyols as a component for soft polyurethane foam. This is used to produce mattresses and so carbon dioxide finds its way to the end consumer. Within the framework of the Carbon4PUR research project, the company, together with partners, continues to focus on the goal of enhancing the use of waste gases from steel production to manufacture polyurethane.

More about Carbon4PUR can be found here: https://www.carbon4pur.eu/

About Covestro:
With 2019 sales of EUR 12.4 billion, Covestro is among the world?s largest polymer companies. Business activities are focused on the manufacture of high-tech polymer materials and the development of innovative solutions for products used in many areas of daily life. The main segments served are the automotive, construction, wood processing and furniture, and electrical and electronics industries. Other sectors include sports and leisure, cosmetics, health and the chemical industry itself. Covestro has 30 production sites worldwide and employs approximately 17,200 people (calculated as full-time equivalents) at the end of 2019.


Find more information at www.covestro.com.
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Forward-looking statements
This news release may contain forward-looking statements based on current assumptions and forecasts made by Covestro AG. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. These factors include those discussed in Covestro?s public reports which are available at www.covestro.com. The company assumes no liability whatsoever to update these forward-looking statements or to conform them to future events or developments.

» Publication Date: 25/03/2020

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This project has received funding from the Bio-Based Industries Joint Undertaking under the European Union’s Horizon 2020 research and innovation programme under grant agreement Nº 745828