PepsiCo, Procter & Gamble, Dow, Danone, Unilever and The Coca-Cola Company Intend to Join Forces To Incubate and Invest in Solutions in South and Southeast Asia
By Api Podder
Press Release – New York City and Singapore, October 25, 2018 – Circulate Capital, the investment management firm dedicated to incubating and financing companies and infrastructure that prevent ocean plastic, today announced that it expects to receive US$90 million in funding for its strategy to combat ocean plastic from several of the world’s leading consumer packaged goods and chemical companies, including PepsiCo (NASDAQ: PEP), the first investor; Procter & Gamble (NYSE: PG), Dow (NYSE: DWDP), Danone (EPA: BN), Unilever (NYSE: UN) and The Coca-Cola Company (NYSE:KO). Circulate Capital anticipates formalizing definitive agreements with these parties by early 2019.
Circulate Capital, its expected founding investors, and the Ocean Conservancy, a leading nonprofit environmental advocacy organization working to protect the world’s ocean, will hold a joint event during the Our Ocean Conference in Bali, Indonesia on October 29, where they will provide an overview of Circulate Capital’s unique investment model, which is designed to create the lasting systems change needed to address the ocean plastic crisis.