Via its venture capital fund, Convivialité Ventures, Pernod Ricard has invested in circular distribution technology ecoSPIRITS. 

Pernod Ricard were part of a US$10m Series A funding round, joining New York based circular economy investment fund, Closed Loop Partners, and investors from around the world. From the Asia-Pacific region, Singapore-based investor Pavilion Capital, and F&B industry equity investor, Proterra Asia, were also part of the raise.  

EcoSPIRITS is a circular economy company that has created low waste, low carbon, ‘closed-loop’ distribution solutions for the on-premise. The company’s flagship product is the ecoTOTE, a reusable 4.5l container that can be filled with spirit, dispenses liquid at venues, and then be returned to producers to be refilled. 

Stéphane Longuet, Co-founder and Managing Director of Convivialité Ventures, said he was hopeful that the investment could lead to a more sustainable drinks industry. 

“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. 

“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,” Longuet added. 

Sui Ling Cheah, Executive Board Chairman for ecoSPIRITS, said the team were delighted with the results of investment round. 

“We are thrilled with the successful close of our Series A round, which not only validates ecoSPIRITS’ impressive progress in building a comprehensive technology platform, but also marks a significant milestone in our journey to global scale,” Ling Cheah said. 

“We are equally honoured to welcome leading investors to our journey such as Closed Loop Partners, Proterra Asia, Pavilion Capital and Convivialité Ventures. The future gets brighter when more resources are invested in circular economy innovation.”

The money raised in this round will be used to fund ecoSPIRITS’ research and development, with the ambition of scaling up its hardware, software and ‘internet-of-things’ research. EcoSPIRITS will also use the investment to expand its global operations in key markets, including the United States. 

The investment deepens the relationship between the two companies, with Pernod Ricard first partnering with ecoSPIRITS in March 2022, when it worked with the organisation to distribute Absolut Vodka, Beefeater Gin and Havana Club in Hong Kong and Singapore. 

In Australia, ecoSPIRITS recently introduced a closed loop wine delivery system, thought to be a world first. 

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