Five startups from around the world will participate in the 6-month accelerator program
FLORHAM PARK, NJ and SOMERVILLE, MA, October 28, 2019 – BASF, one of the world’s leading chemical companies, and Greentown Labs, the largest cleantech incubator in North America, have selected five startups for their Circularity Challenge, a six-month accelerator program designed to advance innovative solutions to enable a circular economy. The startups will focus their efforts on disrupting the plastics, energy storage, and recycling value chains. The Circularity Challenge is supported by Stanley Black & Decker, a leading global diversified industrial and a customer of BASF.
Nearly 100 startups from more than 20 countries applied to the Circularity Challenge. After a highly-competitive recruitment and deliberation process, five companies were selected to participate in the accelerator program:
“Developing sustainable solutions to address global challenges is ingrained in our BASF strategy,” said Peter Eckes, President, Bioscience Research and Regional Research Representative North America at BASF. “By collaborating with these five companies alongside Greentown Labs and our customer Stanley Black & Decker in the Circularity Challenge program, we strive to further sustainable innovation in the circular economy related to plastics, battery materials digital tools.”
The Circularity Challenge is focused on connecting entrepreneurs with mentors, team members, business and technical resources they need to launch or further develop successful ventures with partnership from BASF and support from Stanley Black & Decker.
“We know the circular economy will make an enormous impact not only on the environment but also on value chains, economic growth and the deployment of new innovations,” said Emily Reichert, CEO of Greentown Labs. “We were inspired to see great applications from almost 100 entrepreneurs from around the world and we are excited to support these five selected companies as they progress throughout the program and work alongside experts from BASF.”
All participants in the program will receive:
The Circularity Challenge will feature six two-day workshops to highlight the participants and their industries, BASF’s expertise and industry leadership, along with numerous sessions focused on business and technical guidance for the participating startups. The Circularity Challenge partners will host a culminating event in 2020 to share startup progress, accomplishments and successful results of working closely with BASF, Greentown Labs, and Stanley Black and Decker throughout the program.
BASF Corporation, headquartered in Florham Park, New Jersey, is the North American affiliate of BASF SE, Ludwigshafen, Germany. BASF has more than 20,000 employees in North America and had sales of $19.7 billion in 2018. For more information about BASF’s North American operations, visit www.basf.com.
At BASF, we create chemistry for a sustainable future. We combine economic success with environmental protection and social responsibility. The approximately 122,000 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 around €63 billion in 2018. BASF shares are traded on the stock exchange in Frankfurt (BAS) and as American Depositary Receipts (BASFY) in the U.S. Further information at www.basf.com.
About Greentown Labs
Greentown Labs is a community of bold, passionate entrepreneurs creating solutions for today’s biggest climate and environmental challenges. Located in Somerville, Massachusetts, and founded in 2011, the Greentown Labs Global Center for Cleantech Innovation is the largest cleantech incubator in North America, operating a 100,000 sq. ft. campus comprised of prototyping and wet lab space, shared office space, a machine shop, electronics lab, and a curated suite of programs and resources. Greentown Labs is home to more than 90 startups and has supported more than 230 startups since its inception. These startups have collectively created more than 2,800 direct jobs and have raised more than $750 million in funding. The incubator’s mission is to provide entrepreneurs with the community, resources, and space they need to thrive. For more information, please visit www.greentownlabs.com or on Twitter, Facebook, or LinkedIn.
About Stanley Black & Decker
Stanley Black & Decker is a $14 billion revenue, purpose-driven industrial organization. Stanley Black & Decker has 61,000 employees in more than 60 countries and operates the world’s largest tools and storage business, the world’s second-largest commercial electronic security services company, a leading engineered fastening business as well as Oil & Gas and Infrastructure businesses. The company’s iconic brands include Black & Decker, Bostitch, CRAFTSMAN, DEWALT, FACOM, Irwin, Lenox, Porter Cable and Stanley. Stanley Black & Decker is a company for the makers and innovators, the craftsmen and the caregivers, and those doing the hard work to make the world a better place. Learn more at www.stanleyblackanddecker.com.