Ethical oil startup Levur wins $100,000 in KPMG Nature Positive Challenge
NSW-based ethical oil startup Levur has won $100,000 by taking the top spot in KPMG’s Nature Positive Challenge.
NSW-based ethical oil startup Levur has won $100,000 by taking the top spot in KPMG’s Nature Positive Challenge.
The competition, which supports startups tackling environmental issues, also provided a total of $250,000 in tailored advisory services to its five finalists, with additional awards recognising a First Nations innovation and a People’s Choice winner.
The 2024 edition of the Nature Positive Challenge attracted close to 100 entries, featuring a wide range of innovations aimed at addressing environmental challenges. Startups applied solutions including drone technology for pest control, scalable coral regeneration techniques, and electricity-driven crop growth systems.
The 2023 competition focused on advancing a regenerative economy and sustainable food systems, areas increasingly critical in combating global environmental issues.
Levur’s focus on creating sustainable alternatives to plant and animal oils was highlighted for its potential to significantly reduce the environmental effects of deforestation and biodiversity loss.
Tom Collier, CEO of Levur, described the win as a key milestone for the business.
“It’s a validation of the mission our team has worked so hard to make a reality and a powerful reminder of why we started this journey: to protect our planet and create solutions that leave a lasting impact,” Collier said.
“Thanks to this prize, we’ll be able to scale faster and reach more markets, helping to commercialise our sustainable alternative to palm oil. Creating long-term impact takes a village, and we’re deeply inspired by the work of our fellow finalists. We’re proud to be part of a community dedicated to driving meaningful change.”
Native Botanical Brewery, based in Erin NSW, was also recognised with the First Nations Award for its work combining traditional knowledge with modern practices to produce native beverages and restore local ecosystems.
Coral Maker, a Western Australian company focused on large-scale coral reef restoration, received the $20,000 KPMG People’s Choice Award, which was decided by votes from KPMG staff across Australia and the South Pacific.
Andrew Yates, CEO of KPMG Australia, emphasised the importance of supporting businesses that address environmental challenges.
“The KPMG Nature Positive Challenge continues to unearth some exceptional eco innovators. Levur was the ultimate choice of our judging panel because of their highly innovative application of science and the scale of the challenge they are tackling – replacing unsustainable plant and animal oils with sustainable alternatives,” Yates said.
“The widespread adoption of sustainable oils could have a tremendous global impact, maintaining biodiversity and reducing the devastating effects of deforestation.”
The other two finalists included Lord of the Trees — a sustainable pest management startup from Sydney that utilises drone technology — and Rainstick, which uses electricity to mimic the natural effects of lightning to grow crops bigger faster, in a more sustainable manner.
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