Nestlé invests in Eureka!
250 million francs for packaging innovation
The Nestlé Group continues its commitments for the sustainability of packaging in Italy with an investment of 5 million euros in the Italian venture capital fund Eureka! Fund, managed by Eureka! Venture Sgr. This investment is intended to accelerate research to facilitate the introduction of innovative packaging solutions; improve the quality of collection and recycling processes; increase the adoption of recycled food-grade plastics. The amount invested is part of the CHF 250 million fund allocated in 2020 globally by the Nestlé Group to boost the sustainability of packaging and improve recycling systems.
“Eureka! Fund I - Technology Transfer ”is a fund specialized in technology transfer that focuses on investments in Advanced Materials and more generally in applications and technologies related to materials science and engineering. The fund mainly invests in the early stages of development of initiatives based on technologies with high market potential proposed by teams of excellence or by startups connected with the main universities and scientific research centers in the country.
This investment is intended to support Nestlé's efforts to make 100% of its packaging recyclable or reusable by 2025 and to reduce the use of virgin plastics by 1/3 over the same time period. Significant results have already been achieved in Italy, with 97% of all packaging produced by Nestlé in Italy being recyclable. The collaboration between Nestlé and the Eureka! fund will focus on the search for technologies and solutions in some crucial areas of the Group's sustainability strategy, such as packaging innovation, the increase in the adoption of recycled plastic for food use and the development of technologies that can make sorting more effective and the collection of materials, positively impacting the quality and quantity of the recycling processes.
Marco Travaglia, president and CEO of the Nestlé Italy and Malta Group, commented: "joining the Fund will allow us to work together to find new innovative packaging solutions, aimed at encouraging the introduction of recycled plastic for food use and to improve the quality of collection and recycling processes".
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