Pernod Ricard Takes Stake In Technology Startup ecoSPIRITS

By: Trademagazin editor Date: 2023. 05. 15. 09:30

Spirits firm Pernod Ricard has taken a minority stake in ecoSPIRITS, a circular economy technology startup, which focuses on low carbon distribution systems for the drinks industry.

ecoSPIRITS is an innovative closed-loop distribution system that nearly eliminates packaging waste in the premium spirits supply chain. By dramatically reducing packaging and transport costs, ecoSPIRITS provides both a powerful cost advantage and a transformative carbon footprint reduction.

The French owner of Absolut vodka and Jameson whiskey made the investment through its Convivialité Ventures venture capital fund.

“We are very pleased to participate in this investment which will help develop a company offering such an innovative solution to our industry, by drastically reducing waste and carbon emissions,” commented Stéphane Longuet, co-founder and managing director of Convivialité Ventures.

“ecoSPIRITS’ approach is perfectly in line with our group’s objectives to reduce its carbon emissions and we are looking forward to using it on a large scale around the world.”

According to Pernod Ricard, the funding will be used to accelerate ecoSPIRITS’ research and development programme, scaling up its hardware, software and IoT research and expanding its operations.

Pernod Ricard previously collaborated with ecoSPIRITS on the distribution of several of its premium brands in Hong King and Singapore.

ESM