$250,000 investment to drive
scalability of circolution's smart reusable food packaging
solution
ZURICH, Feb. 1, 2023 /PRNewswire/ -- Amcor (NYSE: AMCR,
ASX:AMC), a global leader in developing and producing responsible
packaging solutions, has announced a $250,000 investment into smart reusable food
packaging start-up circolution, the third winner of Amcor's
Lift-Off initiative. Launched in April
2022, Amcor Lift-Off targets breakthrough, state-of-the-art
technologies that will further advance Amcor's goal to make the
future of packaging more sustainable.
Founded in Frankfurt, Germany,
in 2019, circolution's smart reusable packaging solution builds on
Germany's existing bottle-deposit
system, offering fast-moving consumer goods brands a simple
pay-per-cycle service that delivers a significant reduction in
carbon footprint per manufacturing cycle versus standard single-use
packaging. circolution has developed an innovative model which
provides a complete circular service: smart reusable packaging,
reverse logistics, data analytics and impact measurement. Available
in a range of shapes, sizes and materials, the 'packaging as a
service' solution requires no upfront investment and has been
designed to be fully compatible with existing supply chain and
scaled operations standards.
Frank Lehmann, vice president of
Corporate Venturing and Open Innovation at Amcor, said: "We are
delighted to be in a position to support circolution at this early
stage, and see great synergies with both our existing products and
other investments as we work toward a circular system for
packaging.
"Amcor is passionate about supporting the development of a
circular economy, and innovation is essential to achieving our
goals. Collaboration and investment drive progress, and it is this
ethos that led to the formation of the Amcor Lift-Off initiative.
Our team continues to discover the most impressive innovative
start-ups across the industry, and we look forward to seeing what
fruits this latest partnership will bear."
Amcor is already working to provide the lid-sealing solution for
circolution's first product in the coffee, cacao, and powder
sector, launched in 2022, using Amcor's recyclable AmFoil™ AluFix®
peelable can lidding. This investment highlights Amcor's efforts to
make all products either recyclable, reusable or compostable by
2025.
Alessandro Marchiaro, co-founder, Financing and Big Data at
circolution, said: "We are very happy to win Amcor as the first
ticket in our funding round. After having successfully launched in
2022, and begun to scale-up our operations, Amcor's expertise and
funding will be invaluable. We're excited to take this important
step."
circolution is the third company to secure funding through
Amcor's Lift-Off initiative, which offers packaging start-ups up to
$250,000 investment to help scale
their innovations. Earlier this year, Amcor announced seed-funding
for Nfinite Nanotechnology and Bloom Biorenewables Ltd, and further
investments are expected to be announced in the coming months.
Amcor continues to be a leader in identifying and evolving
strategic start-up investment opportunities, exploring the
potential for joint operations and collaborative development. The
Corporate Venturing team fosters start-ups and innovative
companies' journeys by sharing Amcor's world-leading research and
development expertise. Recent activity includes strategic
investments into enabling the global deployment of PulPac, ePac
Flexible Packaging and PragmatIC Semiconductors.
To learn more about Amcor's corporate venturing, visit
amcor.com/about/ventures. To learn more about circolution, visit
circolution.com.
About Amcor
Amcor is a global leader in developing and producing responsible
packaging solutions for food, beverage, pharmaceutical, medical,
home and personal care, and other products. Amcor works with
leading companies around the world to protect their products and
the people who rely on them, differentiate brands, and improve
supply chains through a range of flexible and rigid packaging,
specialty cartons, closures, and services. The company is focused
on making packaging that is increasingly lighter weight, recyclable
and reusable, and made using an increasing amount of recycled
content. In fiscal year 2022, 44,000 Amcor people generated
$15 billion in annual sales from
operations that span 220 locations in 43 countries. NYSE: AMCR;
ASX: AMC
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