2020 Q3 CM Venture Capital Newsletter
PORTFOLIO NEWS
Enwise - Transform Organic Waste to Energy
Enwise is a company that focuses on R&D and producing dry anaerobic digestion system that transforms organic waste into energy and fertilizer while maintaining a compact modular design.
The company's solution provides a simple and efficient method to convert organic wastes into usable energy using its product, OSCAR, which is fully remotely controlled, installed on the waste production site, which then returns the generated energy back to the client once the recycling process is finished.
The solution turns 1 ton of organic waste into only 40kg of solid fertilizer, can reduce 96% of the waste volume.
On July 31, 2020, Enwise has successfully implemented a digester for Intel facility in Shanghai This equipment can process 1 ton of food waste and kitchen waste from the company canteen per day, which is 30% higher than the goal-target initially set on the contract. It reduces the waste volume by 96% on-site, and at the same time generates biogas through the balance tank and natural gas to provide combustion energy for the kitchen stove after preparing dishes in the canteen and produce 3000 tons of hot water per year for the back kitchen use.
The biogas energy supply produced by the equipment saves one-third of the natural gas demand for the company’s canteen, reduces carbon emissions by 700 kgco2/ton, and contributes to the sustainable development of the company and the park.
On July 10, 2020, Enwise participated in the "Great Lake Talent Cup", a high-level Talent Entrepreneurship Competition in Sihong. The competition’s purpose is to attract technological enterprises that meet the industrial development to settle in Sihong and provide talent support and intellectual support for industrial breakthroughs. It has high requirements for companies in order to participate and offers 2 million to 8 million RMB industrial fund investment for the top 3 places. Among hundreds of companies, Enwise won the Shanghai division championship and is qualified to move to the final round, which has the winning prize of Investment by 8 million RMB investment fund.
On September 7, 2020, Enwise won third place on the 4th "China Chuangyi" Entrepreneurship and Innovation Competition, which is a national-level competition that is Jointly sponsored by six departments including Shanghai Municipal Human Resources and Social Security Bureau. The founding team participating in this competition presents the characteristics of high education, internationalization, youth, and specialization. 94% of them have a college degree or above. The entrepreneurial projects reflect the innovation and entrepreneurship trends of new technologies, new formats, and new industries. Innovation projects accounted for more than 80%. The two founders of Enwise, Dr. Stephane Vernede and Ms. Li Zhuoya, introduced Enwise’s entrepreneurial project “Wet Waste lightens Low Carbon Life". Through dry anaerobic fermentation and degradation of wet garbage, the biogas produced during the treatment process can be flexibly converted into electricity, hot water, and other renewable energy. This green and low-carbon wet waste treatment method and the technical route have been widely praised by the judges.