Genecis, a clean-tech company focused on turning food waste into bioplastics, has recently been awarded The Amazon climate tech fund, known as The Climate Pledge Fund. The Toronto-based startup was funded in 2017 with the mission to convert organic waste into biodegradable bioplastics. This fund can be the beginning of a future partnership between Amazon and Genecis and more broadly, a significant step forward, on the part of Amazon, in tackling environmental challenges and promoting sustainable solutions for a cleaner future.

From food waste to plastic

Luna Yu the CEO of Genecis funded the company with the goal of converting food waste into useful products. Genecis do this by utilizing a unique technology combining data analysis and advanced microbiology. What Genecis does is essentially harness the power of microbial fermentation to break the organic waste on a molecular level and convert it into useful bio-based materials. Genecis is offering a more sustainable alternative to traditional plastic production, by transforming food waste from landfills into bioplastics. Bioplastics have the potential to reduce greenhouse gas emissions and minimize reliance on fossil fuels. These biodegradable materials can help alleviate the environmental impact associated with conventional plastics; namely polluting the oceans, forests, rivers, etc. which on its face is bad enough, but considering the hundreds of years that are needed for plastic to decompose, it’s practically a catastrophe in the making. Just one estimate from the American Chemical Society measures that nearly 400 million metric tons of plastic are produced yearly; other measurements put this number somewhere between 380 million tons to 420 million tons.

Amazon’s Role in combating climate crises

The exact number of the fund that Genecis received was not publicly announced and neither Amazon nor Genecis disclosed the amount of the fund. However, it’s worth mentioning that the Climate Pledge Fund was launched in 2020 as a $2 billion USD fund, and since then the fund has earmarked $50 million to invest in female entrepreneurs. Another interesting point is that according to Amazon, they are still evaluating how to use Genecis technology in their operations and it’s still unclear if they ever will. The fund from Amazon, provides -with substantial resources, enabling them to scale up their operations and further develop their innovative technology. It also highlights Amazon's commitment to supporting initiatives that address climate change- This move by Amazon is a step toward offering their customers the possibility to receive their everyday purchases, like grocery and pharmacy items, in bioplastic packaging. The collaboration between Genecis and the Amazon Climate Tech Fund is a positive sign reflecting a growing trend in the business world. A trend where companies are increasingly seeking innovative solutions to reduce their ecological footprint. As concerns about climate change and sustainability continue to rise, partnerships like this play a crucial role in fostering the development and adoption of technologies that contribute to a greener future. Especially considering the significant role Amazon plays in the retail market, as it has maybe the largest plastic footprint among the distributors.

Food Waste to plastic to a new green future for All

Overall, the support from the Amazon Climate Tech Fund underscores the importance of investing in climate-friendly ventures like Genecis. By turning food waste into bioplastics, they are not only addressing the issue of waste management but also actively contributing to the transition towards a more sustainable, circular, and ultimately greener economy.

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