PGE Ventures is looking for startups that will help to utilize combustion by-products in the PGE Group’s generation assets
In September 2017, PGE Ventures started its own scouting program for startups. Main goal is to find most perspective startups on the market. The fund particularly encourages technological startups which have mature solutions or ideas for the ashes and other combustion by-products utilization, especially synthetic gypsum.
The scouting program for startups run by PGE Ventures gives young entrepreneurs an opportunity to develop their projects. Growing companies which fit into the wide PGE Group’s value chain, may apply to the program and get the financial support.
The quality of the projects submitted so far is very high.. The total number of the projects is satisfying as well. Nonetheless, the area that represents the smallest number of projects submitted, is the combustion by-products utilization. Projects of this type are essential both for PGE Ventures (in respect to the market potential), and for the entire PGE Group. These projects may provide us a strategic and financial leverage.. – says Henryk Baranowski, President of the Management Board, PGE Polska Grupa Energetyczna S.A.
Waste disposal is becoming increasingly important in the world. This trend is particularly visible in Europe where an increase of the by-products utilization rate is forecasted by various sources. This is a result of the new technologies development, mainly related to the fly ash and synthetic gypsum utilization methods. The European Commission is proposing a comprehensive change of the linear economy model into the circular economy. This will accelerate the development of the companies operating within the waste utilization sector.
Modern methods of ashes and combustion by-products utilization (incl. synthetic gypsum) are currently one of the main areas of our fund’s interest. PGE Ventures will consistently search for such solutions in order to meet the challenges related to the waste management – says Piotr Czak, President of the Management Board, PGE Ventures Sp. z o. o.
The PGE Capital Group improves and extends the scale of the combustion by-products utilization. The Group looks for new utilization methods in order to reach the sustainable development goals. At present, all waste generated in the Group’s assets is being managed in recovery processes. Ashes and slags from hard coal combustion – due to their properties – can be used in an economic way (for example in the cement, construction and road industries). The variable properties of ashes generated from the lignite combustion process make them less valuable in respect to the economic use, so they are mainly stored or used to fill transformed areas. Synthetic gypsum is widely used in the construction and cement industries, therefore its economic use is particularly based on long-term contracts with regular customers. These activities are part of the European Union policy aimed at re-use of waste, protecting natural resources and mitigating the environmental impact.