Pernod Ricard invests in ecoSPIRITS
Pernod Ricard’s venture capital arm, Convivialité Ventures, has invested in ecoSPIRITS, a startup focused on low carbon, low waste distribution systems for premium wine and spirits.
Pernod Ricard has joined a $10 million Series A funding round for ecoSPIRITS, a closed-loop distribution system that offers a cost advantage and significantly reduces waste and carbon emissions by avoiding the production and transportation of glass bottles and other secondary packaging.
Closed Loop Partners, Proterra Asia, Pavilion Capital, and Wavemaker Partners are among the other investors in the funding round. In March 2022, Pernod Ricard became one of the first global drinks companies to partner with ecoSPIRITS to distribute some of its premium brands in Hong Kong and Singapore, including Absolut vodka, Beefeater gin, and Havana Club rum.
The partnership utilises a fully reusable 4.5-litre glass container to transport the products, reducing waste and carbon emissions resulting from the production and transportation of bottles and other packaging.