Green gong for palm oil rival

NSW startup Levur has been named the winner of the $100,000 KPMG Nature Positive Prize.

The prize aims to support businesses tackling major environmental challenges, with Levur’s ethical oils offering a sustainable alternative to products like palm oil which cause biodiversity loss and deforestation on a global scale.

Levur co-founder, CEO, and synthetic biologist Tom Collier spent over a decade engineering yeast to create nature-identical oils with the goal of replacing unsustainable oils such as those used in the $500 billion cosmetics market.

"The widespread adoption of sustainable oils could have a tremendous global impact, maintaining biodiversity and reducing the devastating effects of deforestation."

"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," KPMG Australia CEO Andrew Yates said.

"The widespread adoption of sustainable oils could have a tremendous global impact, maintaining biodiversity and reducing the devastating effects of deforestation."

Collier said of the award; "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.

"Thanks to this prize, we’ll be able to scale faster and reach more markets, helping to commercialise our sustainable alternative to palm oil."

The Nature Positive Challenge drew nearly 100 applicants from startups working on solutions in regenerative economy and sustainable food systems with five finalists selected.

The finalists pitched to a panel of judges including WWF-Australia chief regeneration officer Nicole Forrester, Climate Salad co-founder Mick Liubinskas, Jawun chief executive Shane Webster, KPMG’s National Nature lead Carolin Leeshaa and KPMG Enterprise lead partner for ESG & Sustainability Josh Geelan.

Finalists in focus

Other Nature Positive Prize winners included a WA startup using technology to scale coral reef restoration. Coral Maker took home the $20,000 People’s Choice Award which was voted on by KPMG staff across the region.

Native Botanical Brewery, a family beverage business based in NSW, won the First Nations Award, a new category that recognises the role of Indigenous businesses play in promoting environmental harmony through traditional knowledge and sustainable practices. The startup produces beverages from native plants and also actively restores local ecosystems by propagating native food species.

Lord of the Trees, a Sydney company using drone technology for sustainable pest management, was another finalist, as was Rainstick, a Cairns startup using electricity to mimic the natural effects of lightning to grow crops bigger, faster and more sustainably.

These five finalists will share a $250,000 pool of tailored advisory services to help scale their businesses.

"The goal of the KPMG Nature Positive Challenge is to shape a better future by supporting entrepreneurship that is focused on helping people and planet," Yates said.

"We are incredibly proud to be helping fast-track the growth of these amazing businesses."