Sainsbury's Innovation Investments targets sustainable startups
Sainsbury’s has announced the launch of the Sainsbury's Innovation Investments which will invest a minimum of £5 million over the next four years into startup businesses commercialising technologies that look to reduce operational carbon emissions and water usage.
Williams Advanced Engineering (WAE) will scout and invest into early stage companies, not limited to the Sainsbury’s supply chain, across a range of sectors.
The first investment is expected to be announced before the end of 2022.
Patrick Dunne, Sainsbury’s Property and Procurement Director, says: “We are committed to reaching our Net Zero target of 2035 and are proud to be doing our part in leading the way to create solutions that will reduce carbon emissions and water usage not just in our stores, but across the entire sector.”
“We know that reducing emissions and water use is a critical part of tackling the climate crisis and to achieve this, we understand the importance of investing in pioneering technologies that can be adopted by all retailers.”
“Tackling an issue of this scale requires collaboration and we’re really excited to not only invest in these businesses, but also provide a pathway to in-store use, working towards a more sustainable future for everyone.”
Matthew Burke, Director, Williams Technology Ventures, says: “Embracing new and unproven technologies is a necessary requirement to meet Net Zero and many of these products and services will emerge from the technology startup community.”
“Sainsbury's Innovation Investments will accelerate the commercialisation of these technologies through the opportunity of investment, trial and deployment across Sainsbury’s vast estate and operations.”
“In doing so it will act as a springboard for wider and rapid technology adoption by customers across retail and other sectors who all share common Net Zero challenges.”
“With WAE’s focus on sustainability, and expertise in technology and engineering combined with early stage technology investing, we are delighted to be supporting Sainsbury’s journey to Net Zero with the launch of this unique investment initiative.”
