iStockPhoto / Getty Images
From housing to commercial buildings to infrastructure, construction activity is good for the economy – and not for the environment. Globally, the construction sector consumes about half of all raw materials extracted, and contributes the largest amount (by weight) to the overall waste stream. The sector also accounts for 37 per cent of greenhouse gas emissions, according to the UN Environment Programme.
That’s why Mycocycle, a biotechnology startup based in Bolingbrook, Illinois (just southwest of Chicago) is offering solutions to construction and industrial waste. They decarbonize the construction materials supply chain with their waste-to-value solutions, employing a process called mycoremediation. Mycocycle is operating at scale on materials like gypsum wallboard and carpet, and is moving into pilots on crumb rubber.
It’s about finding and supporting founders looking to establish the next generation of sustainable businesses.
— Blair Miller, managing partner, TELUS Pollinator Fund for Good
“In two weeks, our fungi can transform materials into new ingredients for construction products,’” says Joanne Rodriguez, the company’s founder and CEO. “We optimize the natural functions of fungi to create a bio-based value stream.”
Mycocycle is concentrating on the construction and demolition sector for now. With venture funding from the TELUS Pollinator Fund for Good, and other investor groups, the company aims to scale up its operations so it can process a wider range of waste materials in multiple sectors.
Mycocycle’s process aims to turn trash to treasureSupplied
“If we’re going to beat climate change, we have to come up with better ways to deal with waste across the supply chain,” says Ms. Rodriguez.
The TELUS Pollinator Fund targets startups with economic potential and innovative solutions to some of the world’s most pressing problems. The fund, launched in 2020 with an initial CAD$100-million commitment, invests in companies that focus on the environment, sustainable agriculture, evolving and transforming healthcare and building more inclusive communities.
“It’s not every fund that would invest in a first-time, solo, woman founder of a small mushroom-based company,” says Ms. Rodriguez. “Through its funding, network of contacts and expertise, the Pollinator Fund supports our commitment to helping corporations and governments achieve a zero-waste future.”
Startups drive social impacts and financial returns
The TELUS Pollinator Fund is now one of the largest corporate impact funds in the world. One of its credos is “profit with a purpose”. More than 30 firms have received backing to date and they’re proving that for-profit companies can both make a measurable social impact and generate solid financial returns.
“It’s about finding and supporting like-minded founders who are looking to establish the next generation of sustainable businesses,” says Blair Miller, managing partner of the TELUS Pollinator Fund.
erthos is using plant-based resin as an alternative to plasticSupplied
One of them is Ontario-based erthos, which attracted the fund’s attention with its plant-based resin, a sustainable alternative to plastic. Last year, the fund contributed to erthos’ $6.5-million Series A round of funding.
The bio-based materials design company’s mission is to find a solution for the world’s massive production of over 300 million tonnes of plastic waste each year, half of which come from single-use plastics.
“We’re excited to continue growing our bio-based ingredient database and collaborating with major brands to replace single-use plastics with compostable solutions,” says Nuha Siddiqui, CEO and co-founder of erthos. “This investment is more than just financial support. It’s a validation of our efforts. It also enables us to develop fully functional and sustainable alternative materials that are compatible with existing plastic manufacturing systems.”
Helping businesses reach the next level
While erthos and Mycocycle centre their efforts on protecting resources, another Pollinator Fund portfolio company, Goodr, is finding ways to share resources.
The Atlanta-based firm uses blockchain to combat food waste and relieve hunger. It picks up edible food waste – from airports, restaurants, event centres and other businesses whose leftovers would hit the landfill – and donates it to a local non-profit. Donors save money through tax deductions. The company also works with certified organic waste haulers to recycle inedible food items.
Jasmine Crowe, CEO and founder of GoodrSupplied
In addition, Goodr partners with organizations across the U.S. to get groceries and meals to local communities in need, in a way that preserves dignity. “We believe that hunger isn’t a scarcity issue. It’s a matter of logistics,” says Jasmine Crowe, Goodr’s CEO and founder.
Such enterprises help to deliver beneficial outcomes for the planet, and also have the characteristics for a compelling business, says Mr. Miller. Helping them get to the next level and bring their ideas to wider markets is at the core of the TELUS Pollinator Fund.
“These are at-scale challenges facing Canadians and citizens globally, not just today but for generations into the future. So these are things we have to get right and drive progress on, and we want to lead by example,” he says. “We also want to inspire action on behalf of other corporations to do the same, because there are so many forward-thinking investments to be made in these critical areas for our people, communities and planet.”
Learn more about how the TELUS Pollinator Fund for Good is investing in companies that are making the world a better place, pitch your startup or check the fund’s impact report.
Advertising feature produced by Globe Content Studio with TELUS. The Globe’s editorial department was not involved.