Coca-Cola European Partners (CCEP) and Deep Science Ventures (DSV) are partnering to discover water entrepreneurs capable of developing and scaling technologies to tackle global water scarcity.
CCEP, which is Coca-Cola’s innovation arm, and DSV’s programme are currently accepting applications from researchers and industry professionals in the water industry. They’re seeking solution to address global water stress without causing environmental harm.
Successful candidates will have a year to identify a solution, with support from the partnership, and establish a new spin-off company. The chosen candidates will retain majority shares in the business with pre-seed investment from CCEP and DSV as co-founders.
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Head of CCEP Ventures, Craig Twyford, said: “With climate change exacerbating water scarcity in many parts of the world, we have a responsibility to think innovatively about how we respond to this issue.”
“The launch of this project reflects our ongoing commitment to water stewardship and our ambition to build a more water-secure world, both for our business, our industry, and the communities we work alongside.”
In 2022, CCEP invested €1.6 million in water efficiency technology and processes. They also launched 20 water replenishment projects across the globe to help address water risks near its operations.
Coca-Cola has announced that it is fully committed to replenishing all the water used in its beverages each year, as a part of its sustainability strategy.
This announcement could be indicative of a trend, as AWS also pledged in 2022 to become a water-positive business by 2030.
At the time, AWS said it was “constantly innovating” throughout its infrastructure to minimise water consumption and leverage IoT to analyse the amount of water it uses in real-time.
It’s also working towards recycling the water it uses to cool its data centres and has launched its own water replenishment projects across the world.
