Vietnamese startups chosen for PepsiCo’s top 10 Greenhouse Accelerator APAC

PepsiCo has chosen its top 10 candidates for the 2024 Greenhouse Accelerator Program, including carbon reduction solutions startup Alternō and waste recycling firm Grac from Vietnam.

PepsiCo, a global leader in convenient foods and beverages, unveiled the 10 finalists selected for the APAC Greenhouse Accelerator Program 2024 on Wednesday.

The Greenhouse Accelerator Program launched in January this year invited applications from startups across Asia-Pacific. The finalists were selected by a committee of leaders within PepsiCo based on their ability to deliver innovative solutions in sustainable agriculture, circular economy, and climate action.

Alternō is dedicated to pioneering sustainable solutions that significantly reduce carbon emissions in the sectors of agriculture, industry, and residential heating. It was founded with a vision to create Asia's first low-cost thermal energy storage solution for renewable energy, to be deployed widely across the region by 2050.

Grac provides affordable waste and recycling solutions for local governments and businesses seeking a smarter, sustainable alternative. Grac was born to design the most suitable waste management model in Vietnam and developing countries, and makes an important contribution to reducing waste, separating waste at source and building a circular economy. The other startups are from Thailand, China, the Philippines, Australia, and New Zealand.

Each finalist was chosen for its unique approach to addressing environmental and sustainability challenges, key criteria aligning with PepsiCo's transformative pep+ (PepsiCo Positive) initiative. The program underscores PepsiCo’s commitment to a future-forward food system where both people and the planet thrive.

In 2024, PepsiCo has expanded the APAC Greenhouse Accelerator Program to include a critical new focus area: sustainable agriculture. Recognizing the essential role that agriculture plays in our food systems, PepsiCo has identified two trailblazing startups from this sector as finalists, each contributing innovative approaches to sustainable farming practices.

In a significant step to widen the scope of the program further, PepsiCo has also forged new partnerships with its bottlers Suntory PepsiCo Beverage in Thailand and Vietnam, which are both strongly committed to creating positive impacts on the environment and driving impactful sustainability initiatives across their operations. These alliances aim to deepen the sustainability efforts across the region by engaging stakeholders and amplifying the scope of impact through collaborative action.

The Greenhouse Accelerator aims to catalyze the growth of these startups, enhancing their capability to contribute meaningful advancements within the industry. Representing a broad spectrum of Asia-Pacific’s entrepreneurial talent, the finalists embody PepsiCo’s pursuit of diverse and potent environmental solutions.

Central to PepsiCo’s mission is the integration of these innovative approaches into its global value chain, furthering the company’s commitment to improve its ecological footprint. By 2025, PepsiCo aims to ensure all packaging is recyclable, compostable, biodegradable, or reusable, alongside a targeted 40% reduction in greenhouse gas emissions by 2030.

Providing an ecosystem of support, the APAC Greenhouse Accelerator Program connects finalists with PepsiCo’s extensive network of mentors, industry experts, and resources. This framework is designed to foster development, accelerate market readiness, and enhance the scalability of their solutions.

"As we welcome the newest cohort of startups to the APAC Greenhouse Accelerator Program 2024, I’m excited about the potential these innovators bring. Their inventive solutions are tackling pivotal issues within the circular economy, sustainable agriculture, and climate change, all of which are critical to our agenda," stated Wern-Yuen Tan, CEO of PepsiCo APAC and chief commercial officer.

"We're optimistic about the prospects of how these partnerships will expedite progress. This year, our collaboration with bottlers has significantly expanded our ability to pilot and scale these innovative solutions across a broader spectrum,” he added.

The 2023 APAC edition saw seven pilots across the PepsiCo network, which drove 110% growth in six months for the finalists, along with $1.5 million in sales growth.