Pernod Ricard has acquired a minority stake in Singapore-based circular packaging company, EcoSpirits. This investment also coincided with its trial on a closed-loop packaging concept in Southeast Asia using technology developed by EcoSpirits.
The investment in EcoSpirits forms part of a US$10 million funding round led by New York-based investment group Closed Loop Partners.
The technology developed by EcoSpirits, called EcoTote, is a reuseable glass container that holds 4.5 litres, held inside a branded outer shell. It aims to reduce packaging waste by providing on-premise locations with branded refillable containers.
Pernod Ricard started its trial of the product last year, distributing Beefeater gin, Absolut vodka and Havana Club rum to venues in Hong Kong and Singapore.
EcoSpirits’ reuseable containers are connected to the Internet and can report back depletion levels. The system also allows for the pouring of spirits set to local measurements. To facilitate the bottling and refilling of the containers in local regions, EcoSpirits maintains a facility called an ‘ecoPlant’ that operates as a bottling and EcoTote cleaning unit.
EcoSpirits plans to use the investment funding to scale up its hardware, software and research into IoT, and at the same time to expand its operations in international markets.
Apart from Pernod Ricard, other spirits company Rey Cointreau and Diageo have also worked with EcoSpirits on the closed-loop packaging trial.
