Sky has teamed up with the UK government to invest in start-up businesses that are seeking to address the plastic waste crisis.
Innovate UK, a government agency, has announced it is offering a total of £2 million in matching grants to companies that receive investment from Sky Ocean Ventures, a fund set up by the broadcaster to prevent plastic reaching the sea.
So far it has invested £1.4million and expects to commit at least £5 million by March 2019 with a further £20million to be invested over the next three to five years across the EU.
Its portfolio includes Choose Water, an Edinburgh-based business, which turns old newspapers into bottles, Skipping Rocks, which makes edible, seaweed-based packaging and French company Uzer, which provides an app informing householders how to recycle different products.
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James Longcroft, Founder of Choose Water, said: “Our key is the waterproof liner that keeps the liquid in but is sustainably sourced. Our bottles are not transparent so getting the public to pick them up is a challenge. Having Sky on the bottle should give customers some trust.”
Jeremy Darroch, Sky Chief Executive, told the Financial Times: “The ocean plastic crisis is one of the biggest concerns in the world today. If we make the right impact-driven investments, we have a real opportunity to make a difference.”