Pernod Ricard invests in ecoSPIRITS to scale circular distribution
Pernod Ricard's venture capital fund has taken a minority stake in ecoSPIRITS, a circular economy technology startup. The investment aims to scale a low-carbon, low-waste distribution system for premium spirits.
Pernod Ricard's venture capital arm, Convivialité Ventures, has acquired a minority share in ecoSPIRITS, a technology startup focused on circular distribution systems for premium wine and spirits. The investment is part of a $10 million Series A funding round.
The funding aims to scale ecoSPIRITS' closed-loop distribution model, which reduces waste and carbon emissions by eliminating the need for single-use glass bottles and secondary packaging. The system utilizes reusable 4.5-liter containers for bulk transport to hospitality venues.
Pernod Ricard has previously partnered with ecoSPIRITS, using its system for brands like Absolut vodka, Beefeater gin, and Havana Club rum in markets such as Hong Kong and Singapore. The company is also exploring expanding this partnership to new geographies.
The new capital will support ecoSPIRITS' research and development, global expansion, particularly into the United States, and the growth of its engineering and customer support teams worldwide.