Rock the vote for Quebec finalist in quest for $100,000 BDC Young Entrepreneur Award grand prize - Jocelyn Doucet ready to power up eco-change with Kengtek's technology

MONTREAL, May 22, 2013 /CNW Telbec/ - The Business Development Bank of Canada (BDC) announced today that the turning point project, "Power Up Eco-Change", submitted by local businessman Jocelyn Doucet will represent Quebec in the finals of the 2013 BDC Young Entrepreneur Award.

Jocelyn's project aims to help his company, Kengtek, take a revolutionary waste transformation technology to the next level. To win the $100,000 grand prize, he needs to harness the power of voters across the country!

An engineering firm that develops innovative technologies for industrial clients around the world, Kengtek is set to bring a Canadian breakthrough solution to market: a technology called Pyrowave that transforms waste into renewable energy on the spot. Pyrowave has been extensively tested, but to demonstrate it on a large scale, the company needs additional funding to produce the first commercial unit.

"With an on-site machine the size of an ordinary appliance, we will revolutionize waste management as we know it by transforming material waste into renewable energy products," says Jocelyn, the company's founder. "Pyrowave effectively addresses three of the world's biggest issues: tapping into a source of affordable renewable energy; delivering an environmentally safe alternative to landfills and providing a viable solution to reduce greenhouse gases."

Jocelyn started Kengtek while completing his PhD in chemical engineering, initially teaming up with his father to develop sterile packaging processes for agrifood companies. As the business grew, he focused on opportunities to develop waste recovery technologies for clients in North America and as far afield as Africa.

Developed over four years and recognized by the international scientific and technical community, Pyrowave has two patents pending and has been mentioned in several scientific publications. "Our first target market is the fast food industry," says Jocelyn. "In the restaurant sector alone, the market potential is enormous. Canada has a great number of fast food restaurants and the U.S. market is roughly 10 times larger. We already have letters of intent from major Canadian restaurant chains for some 200 commercial units," he adds.

"All the finalists competing for the 2013 BDC Young Entrepreneur Award presented sound turning point solutions that could provide a solid springboard for future growth and success," says Michel Bergeron, Senior Vice President, Marketing and Public Affairs at BDC. "Jocelyn's visionary thinking is backed by years of research and development, and sheer perseverance. His project is an example of made-in-Canada transformational innovation with the potential to change the way we live."

"To be an entrepreneur, you have to be a dreamer," says Jocelyn. "Our dream is to see this technology take off worldwide so that everyone has the means to transform their own waste, create free renewable energy and significantly reduce their environmental footprint. With your votes, we can win the $100,000 grand prize and literally turn the world into a better place!"

Voting for the 2013 BDC Young Entrepreneur Award contest runs from May 22 to June 11. To support your favourite project, log into the contest microsite and vote once a day. Follow the contest through updates on Facebook at "BDC Entrepreneur", Twitter at @BDC_News and LinkedIn. The BDC Young Entrepreneur Award winner and runner-up will be announced on June 17. The runner-up will receive $25,000 in consulting services.

About the BDC Young Entrepreneur Award contest
Created by the Business Development Bank of Canada in 1988, the BDC Young Entrepreneur Award contest pays tribute to remarkable Canadian entrepreneurs between 18 and 35 years of age. Nine finalists were short-listed to compete for a $100,000 grand prize. The winner will be selected by public vote and the contest runner-up will receive a second prize of $25,000 in consulting services.  The Financial Post and La Presse are the media partners of the 2013 BDC Young Entrepreneur Award. www.bdc.ca/yea

About BDC
Canada's business development bank, BDC puts entrepreneurs first. With almost 2,000 employees and more than 100 business centres across the country, BDC offers financing, subordinate financing, venture capital, securitization and consulting services to more than 28,000 small and medium-sized companies. Their success is vital to Canada's economic prosperity. www.bdc.ca

SOURCE: Business Development Bank of Canada

Contact:
Maria Constantinescu
Senior Advisor, Public Relations
Business Development Bank of Canada
[phone]
[email protected]