Department spin off company Enval, a leading provider of recycling and environmental technology solutions, has won the prize in the Inspiring New Idea category at the Finance for the Future Awards, held on 22 May 2013, for the creation of the Enval Consortium to aid the development of its patented plastic-aluminium laminate material recovery technology.
"The Enval Team is thrilled to have had its work recognised with this prestigious award," commented Dr. Carlos Ludlow, Enval’s Managing Director and CTO. "We are grateful for this acknowledgement of the positive impact of our efforts to bring our technology to market."
The Finance for the Future Awards are organised by NatWest, The Prince's Accounting for Sustainability Project and ICAEW. The Finance for the Future Awards recognise organisations that can demonstrate an innovative and sustainable way of doing business that has or will have a positive, long-term financial, environmental, social and economic impact which is underpinned by leadership or an active contribution from the finance team.
Specifically, the Inspiring New Idea award recognises a new initiative with the potential to innovate an organisation’s business model or financing of a project. In the Enval case, Enval created a non-competitive Consortium of stakeholders with an interest in seeing its technology commercialised. The Enval Consortium members, Kraft Foods Group, Mondelez International and Nestlé, initially helped to provide the necessary funding for the construction of Enval's first commercial unit for the recycling of laminated plastic and aluminium packaging waste and are now helping to drive the wider deployment of the technology.
The award celebration event was a great success, and was hosted by journalist and broadcaster Mary Nightingale. It was attended by 200 people, including a range of guests from the world of business, accountancy and the public sector.
Michael Izza, chief executive, ICAEW and judge said, "Enval and the other winners tonight have shown the vibrancy of financial teams who drive the sustainability agenda in their firms and organisations. They have shown that there is a clear business case for using sustainable practices to create long term value and creating innovative resilient business models."
Dr. Ludlow added, "This award is also testament to the interest in the innovative solutions Enval is developing amongst the wider community beyond the waste handling sector. We are continuing to seek new partners across the supply chain, who want to underline their commitment to sustainability by engaging us for the development of new recycling processes for other valuable materials that still end up in landfill".