Five clean tech start ups are in the running for a $75,000 prize and could yet attract new investors after Forum for the Future, the Financial Times and HP announced the shortlist for their Climate Challenge competition.
The five projects have been selected from over 300 entrants and will now be voted on by the public before the eventual winner is announced on 3 April.
The projects, each of which have successfully passed the proof of concept stage, cover a wide range of fields.
Kenya-based Kyoto Box has developed a cheap, solar powered oven that promises to halve the use of firewood in rural commuities, while UK-based Mootral has developed a feed additive derived from garlic that promises to cut methane emissions from cows by up to a quarter.
Meanwhile, a Loughborough University project has developed new "evaporating tiles" that promise to cut building's air conditioning requirements, and a US project has developed a cover for lorry wheels that cuts drag and improves fuel efficiency by two per cent.
Completing the short list, technology start up Carbonscape has developed a giant industrial microwave which sequesters carbon soaked up by trees by turning wood into charcoal that can then be buried, used as fertiliser or burnt as a highly-efficient fuel.
Speaking to BusinessGreen.com, Forum for the Future's David Mason said that under the terms of the competition the winning project will use the $75,000 prize to begin commercialising their product.
He added that the competition organisers were also hopeful that even the eventual runners up will attract financial backing as a result of the competition.
"All the projects will be exposed to a global business audience through the FT, and we would hope some of that audience would be interested in investing," he said. "It is early days, but part of the goal of the competition is to put these innovative projects in the shop window and in front of people who have money to invest."
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