Baneco Nominated for The Earthshot Prize by London & Partners

British startup, Baneco, has been nominated for The Earthshot Prize, following a formal nomination by London & Partners, the Mayor of London’s international business and investment agency.

The nomination recognises Baneco’s groundbreaking work in transforming banana agricultural waste into high-value, climate-positive materials, helping to address some of the world’s most urgent environmental challenges — including plastic pollution, agricultural waste, and greenhouse gas emissions.

Founded to unlock value from one of the world’s most abundant yet underutilised biomass streams, Baneco works directly with banana producers to convert pseudostems, stalks and other agri-waste into sustainable fibres, pulp, cellulose and bio-based materials. These materials are designed to replace fossil-based plastics and virgin wood pulp across packaging, non-wovens, textiles and industrial applications, while also creating new income streams for farmers and reducing methane emissions from decomposing waste.

With trials across Europe and South America, including packaging already on the shelves in UK supermarkets, Baneco is moving beyond pilot projects to validate a scalable, commercially viable model for circular, low-carbon materials.

Being nominated for The Earthshot Prize — one of the world’s most prestigious environmental awards — represents a significant milestone in Baneco’s journey from early proof-of-concept to commercial scale.

Richard Corbett, CEO and Co-Founder at Baneco, said:“It is a tremendous honour for Baneco to be nominated for The Earthshot Prize by London & Partners. This recognition validates not only the products we are making and the technology we are building, but the broader mission behind it — to show that agricultural waste can become a powerful driver of climate impact, rural income and industrial decarbonisation. Our team, partners and farming communities are proving that sustainable materials at scale are not a future ambition, but a reality today.”

Baneco’s nomination reflects its rapid progress over the past two years, including the establishment of operations in Ecuador, commercial trials with global packaging and materials manufacturers, and long-term partnerships securing access to large volumes of banana agri-waste from some of the world’s leading producers.

London & Partners highlighted Baneco as an example of innovation that aligns with London’s role as a global hub for climate technology, sustainable finance and circular economy solutions.

Pru Ashby, Head of Sustainability at London & Partners, said: “Baneco represents exactly the kind of bold, science-led innovation that the Earthshot Prize was created to champion. By addressing agricultural waste, materials sustainability and farmer livelihoods in a single, scalable solution, Baneco is demonstrating how climate innovation can deliver both environmental and economic impact. We are proud to support their nomination and look forward to following their continued growth.”

As Baneco continues to scale its operations and deepen partnerships across Europe, Latin America and beyond, the Earthshot nomination serves as both recognition and motivation — reinforcing the company’s commitment to accelerating the global transition toward circular, low-carbon materials.