MISSISSAUGA/TORONTO, ON, January 17, 2018 - BASF Canada selected Genecis, a Toronto-based biotechnology startup, as the winner of its first Innovation Pitch Series. Genecis is developing a synthetic biology platform to convert organic waste into premium chemicals and materials.
“BASF seeks to work with innovative partners to strategically solve today's global challenges,” said Marcelo Lu, President of BASF Canada. “We are proud to support a Canadian startup company which is providing a sustainable solution for organic waste.”
A variety of digital and sustainability-focused startups were considered, with the top four companies tasked with pitching sustainable business solutions to BASF Canada. Genecis was selected after receiving 80 percent of the vote by employees and an executive leader panel.
The selection criterion was based on a strategic fit with BASF’s company purpose: We create chemistry for a sustainable future. Presentations had to feature a viable, long-term business plan for a scalable product or service in a global market. In addition to receiving $10,000, Genecis will meet with BASF's innovation team to discuss potential opportunities for collaboration.
“This means much more to us than just a reward; it signifies an opportunity to develop a potential long-term partnership with BASF, where we can provide benefit to a company with global reach,” said Luna Yu, CEO and Founder of Genecis. “This also provides a validation of our ability to make an impact in the expanding SynBio industry. With BASF’s support, Genecis can accelerate towards our vision of turning the waste of today into the platinum of tomorrow.”
The event was hosted at MaRS Discovery District, North America’s largest urban innovation hub, which supports high-growth Canadian-based ventures in a range of key technology sectors. In 2018, BASF Canada partnered with MaRS to evaluate emerging technologies.
“Genecis is solving two massive global challenges at once – food and plastic waste – with an innovative solution that has the potential to change our world, so it’s no surprise that they were selected by BASF for this important award,” said Jane Kearns, Senior Cleantech Advisor at MaRS Discovery District. “Genecis was also one of six finalists chosen by a panel of expert judges from across North American for our Women in Cleantech Challenge, so continue to expect more big news from this impressive company.”
BASF Corporation, headquartered in Florham Park, New Jersey, is the North American affiliate of BASF SE, Ludwigshafen, Germany. BASF has more than 18,200 employees in North America and had sales of $17.9 billion in 2017. For more information about BASF’s North American operations, visit www.basf.com.
BASF Canada, headquartered in Mississauga, Ontario, has approximately 1190 employees at production facilities and offices located across Canada. BASF Canada is a subsidiary of BASF SE, and an affiliate of BASF Corporation. To find out more about BASF’s activities in Canada, visit www.basf.ca or follow us on Twitter www.twitter.com/basfcanada.
At BASF, we create chemistry for a sustainable future. We combine economic success with environmental protection and social responsibility. The more than 115,000 employees in the BASF Group work on contributing to the success of our customers in nearly all sectors and almost every country in the world. Our portfolio is organized into six segments: Chemicals, Materials, Industrial Solutions, Surface Technologies, Nutrition & Care and Agricultural Solutions. BASF generated sales of more than €60 billion in 2017. BASF shares are traded on the stock exchanges in Frankfurt (BAS), London (BFA) and Zurich (BAS). Further information at www.basf.com.
Genecis is a Toronto-based biotechnology company comprised of an award-winning team of scientists and engineers, with backgrounds in biotechnology, biochemistry, engineering, data analytics and automation. For more information about Genecis, visit www.genecis.co
Genecis makes premium chemicals and materials accessible through biotechnology. They use bacteria to intake carbons from organic waste and output high-value chemicals and materials. Through this approach, Genecis is redefining the value of organic waste and creating circular economies within the food and organic waste management industries.
Genecis’ first product line is PHA bioplastics, a high-quality bioplastic polymer that can be used to make 3D printing filament, foodware, and flexible packaging, among many other applications. Since inception in 2017, Genecis has scaled rapidly with two labs throughout Toronto and is now receiving global demand for their biodegradable polymers. To find out more about Genecis’ activities, follow us on Twitter https://twitter.com/gbioindustries
About MaRS Discovery District
MaRS Discovery District (@MaRSDD) in Toronto is North America’s largest urban innovation hub. Our purpose is to help innovators change the world. MaRS supports promising ventures tackling key challenges in the health, cleantech, fintech and enterprise sectors as they start, grow and scale. In addition, the MaRS community fosters cross-disciplinary collaboration to drive breakthrough discoveries and new solutions to be adopted in Canada and beyond, growing our economy and delivering societal impact at scale.