Two Vietnamese startups appear in the Top 10 sustainable innovative businesses participating in the final round of APAC Greenhouse Accelerator Program 2024 including carbon reduction solutions startup Alternō and waste recycling firm Grac.

Alternō develops sustainable solutions that significantly reduce carbon emissions in the agricultural, industrial and residential heating sectors. The startup was founded with the vision of creating Asia's first low-cost thermal energy storage solution for renewable energy, expected to be widely deployed across the region by 2050.

Grac provides affordable waste and recycling solutions to local governments and businesses looking for smarter, more sustainable alternatives. Grac's goal is to design a waste management model most suitable for Vietnam and developing countries. Grac makes an important contribution to reducing waste, segregating waste at source, reducing greenhouse gas emissions and building a circular economy.

Other startups selected for the final round come from Thailand, China, Philippines, Australia, New Zealand.

The Greenhouse Accelerator program launched in January this year invited applications from startups across APAC. 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.

Each finalist was chosen for their unique approach to addressing environmental and sustainability challenges—key criteria aligning with PepsiCo's transformative pep+ (PepsiCo Positive) initiative.

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.

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 both are strongly committed to creating positive impact 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 APAC’s entrepreneurial talent, the finalists embody PepsiCo’s pursuit of diverse and potent environmental solutions.

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.

“As we welcome the newest cohort of startups to the APAC Greenhouse Accelerator Program 2024, I’m excited about the potential these innovators bring,” stated Mr. Wern-Yuen Tan, CEO of PepsiCo APAC and Chief Commercial Officer.

"Their inventive solutions are tackling pivotal issues within the circular economy, sustainable agriculture, and climate change — all of which are critical to our pep+ agenda. 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.”

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.