Industry giants to contribute USD 90m to preventing ocean plastics waste / Ellen MacArthur announces
Updated: Mar 4, 2019
Just ahead of the fifth "Our Ocean" conference that ran from 29-30 October 2018 in Bali / Indonesia, US investment management firm Circulate Capital (Brooklyn, New York; www.circulatecapital.com) announced that it expects to receive USD 90m in funding for its strategy to combat marine litter. The funding is coming from leading chemicals, plastics and consumer packaged goods companies, including Coca-Cola (Atlanta, Georgia / USA; www.coca-cola.com), Danone (Paris / France; www.danone.com), Dow (Midland, Michigan USA; www.dow.com), PepsiCo (Purchase, New York; www.pepsico.com), P&G (Cincinnati, Ohio / USA; www.us.pg.com) and Unilever (Rotterdam / The Netherlands; www.unilever.com). Definitive agreements with the companies are expected to be formalised by early 2019.
The US investment firm was formed following the commitment by Closed Loop Partners(www.closedlooppartners.com), Ocean Conservancy (Washington, D.C. / USA; www.oceanconservancy.org) and corporate partners at the 2017 Our Ocean conference in Malta, with the goal of creating financing for ocean plastics waste prevention – see Plasteurope.com of 20.10.2017.