Aquaflow secures global award

A top-of-the-south company that turns agricultural waste into fuel, has been named as one of the top 100 startups in Asia by global technology media company Red Herring.

Aquaflow was selected from about 200 finalists across a range of technology sectors at an awards ceremony in Hong Kong on September 12.

The Red Herring awards are held each year in Asia, Europe and the Americas and identify the top 100 most exciting startups in each region picked for future growth potential.

Aquaflow, based in Nelson with Marlborough links, was the only New Zealand company to make the finals in the clean technology section.

It was started in 2005 and aimed to build refineries to take biomass such as tree offcuts and algae and turn it into biofuels for cars.

Company director Nick Gerritsen, of Picton, said Aquaflow could turn agricultural waste into biofuel, which was renewable and better for the environment.

He put his business case to the judging panel and they were convinced by its potential.

"We went through a tough assessment process and the judges were looking for companies who are about to make a global impact. This award will open up some important doors for us."

Nominees were evaluated on their product and their business strategy, with judges also considering their financial performance, technology innovation and quality of management to decide the winners.

"Aquaflow is at the leading edge of drop-in renewable fuels and we have a technology offering with global potential," Mr Gerritsen said.

Red Herring chief executive Alex Vieux said Aquaflow should be proud of its accomplishment.

The Marlborough Express