Ethical oil startup wins $100K prize

An ethical oil startup has taken out KPMG’s $100,000 Nature Positive Prize — part of an annual Challenge run by KPMG to boost inventive environmental problem-solving.

The successful startup, NSW-based Levur, is dedicated to finding innovative ways to replace unsustainable animal and plant oils for a variety of consumer products. The company was formed in reaction to the devastation wrought by the palm oil industry on natural habitats. It harnesses natural methods to engineer microbes, with a focus on yeast, in order to provide the food and cosmetics industries with sustainable alternatives.

The 2024 Challenge had two themes: regenerative economy and sustainable food systems. A record number of startups applied with a wide range of initiatives, including the use of drones to control agricultural pests; the development of new technology to regenerate coral at scale; and the harnessing of electricity to speed up crop growth.

Five finalists were short-listed from a pool of almost 100 applicants and invited to pitch to a panel of judges, which included WWF Australia Chief Regeneration Officer Nicole Forrester, Climate Salad co-founder Mick Liubinskas and Jawun Chief Executive Shane Webster. They were joined on the judging panel by KPMG National Nature Lead Carolin Leeshaa and Enterprise Lead Partner for ESG & Sustainability Josh Geelan.

“The KPMG Nature Positive Challenge continues to unearth some exceptional eco innovators,” said Andrew Yates, CEO of KPMG Australia. “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 — replacing unsustainable plant and animal oils with sustainable alternatives. The widespread adoption of sustainable oils could have a tremendous global impact, maintaining biodiversity and reducing the devastating effects of deforestation.

“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. We are incredibly proud to be helping fast-track the growth of these amazing businesses,” he added.

Levur co-founders Tom Collier (CEO) and Joanne Barber (COO) were delighted to have been selected by the judges. “Winning the KPMG Nature Positive Challenge feels like a pivotal moment for Levur,” Collier said. “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.”

Collier said the company was already seeing the strategic benefits of KPMG’s advisory support and the doors this would open for a relatively young business.

“Thanks to this prize, we’ll be able to scale faster and reach more markets, helping to commercialise our sustainable alternative to palm oil. Creating long-term impact takes a village, and we’re deeply inspired by the work of our fellow finalists. We’re proud to be part of a community dedicated to driving meaningful change,” he said.

The four other KPMG Nature Positive finalists were:

• Coral Maker (Rudds Gully, WA) — a coral reef restoration company focused on developing technology to scale the deployment of corals
• Lord of the Trees (Sydney, NSW) — a startup pioneering sustainable pest management through innovative drone technology
• Native Botanical Brewery (Erina, NSW) — a First Nations family business producing native beverages while actively restoring local ecosystems by propagating native food species
• Rainstick (Cairns, Qld) — a company using electricity to mimic the natural effects of lightning to speed the growth of larger, more sustainable crops.
   

Native Botanical Brewery was selected as winner in the First Nations category — a new award category aiming to recognise the growth potential of Indigenous businesses and reflect how these communities, through traditional knowledge and practices, continue to play a leading role in promoting a harmonious relationship with the land.

Coral Maker won the $20,000 KPMG People’s Choice Award, voted on by KPMG staff across Australia and the South Pacific.

For more information on the Challenge, visit www.kpmg.com/au/naturepositive.

Image caption: Levur co-founders Joanne-Barber (COO) and Tom Collier (CEO).