Sky Ocean Ventures, the media-powered impact investment fund, has announced investments worth one million pounds into two new blue start-ups – Algramo, a vending machine distributor from Chile and EcoFlexy from Denmark.
Both businesses were recognised at the inaugural ‘Ocean Plastic Innovation Challenge’ (OPIC) in Washington, a global search, by Sky Ocean Rescue and National Geographic, for innovative solutions to help tackle the world’s single-use plastic problem.
Jamie Rowles, head of investments at Sky Ocean Ventures commented: “The awareness around single-use plastic has led to a real advent of an area that we’re calling blue tech – businesses developing ideas that are solving the plastic crisis and influencing consumers to reduce their single-use plastic use”. He added: “It’s an issue that affects everyone across the world and we’re excited to help these two brands support people in their countries around the world.”
Algramo is literally translated from native Chilean as ‘by the gram’. It distributes vending machines containing staple items that were traditionally sold in small plastic sachets. These are now available for communities in convenient, smart and reusable packaging.
The second investment is EcoFlexy. It uses a pioneering new method to transform fruit waste into a brand new form of plastic free packaging.
The two companies, chosen from a pool of 300 from around the world, are leading by example by joining Sky’s campaigns in the fight against single-use plastic and have demonstrated the dedication required to help others reduce and turn off the plastic tap.
Sky Ocean Ventures in partnership with Sky Ocean Rescue has been leading the way to make a difference in the nation’s attitudes and behaviours towards single use plastic. Set up in March 2018, with capital from Sky, Sky Ocean Ventures is driven towards financing companies tackling ocean plastic.