Published: September 5th, 2022
Supermarket giant Sainsbury’s has pledged at least £5 million to boost sustainable technology start-ups.
The Sainsbury’s Innovation Investments, to be spread over the next four years, will be made available to start-up businesses which commercialise innovative, sustainable technologies that aim to reduce operational carbon emissions and water use.
The investment is not limited to companies in the Sainsbury’s supply chain and will be made across a range of sectors.
The funding is part of Sainsbury’s promise that its business will be carbon net neutral by 2035, five years earlier than originally planned.
Williams Advanced Engineering (WAE) will find early-stage companies for investment, with the first funding expected to be announced before the end of this year.
Sainsbury’s hope that the investment in innovation will lead to sustainable technologies than can be used across the retail sector. As well as a cash investment, start-ups will have access to Sainsbury’s estates and operations to trial their products.
Since 2018/19, Sainsbury’s has already cut its carbon emissions by 20 per cent and is confident of meeting its Net Zero target.
Fledgling sustainable technology businesses are invited to apply for investment at https://wae.com/sainsburys-innovation-investments
