Plug and Play Invests in Sustainability Firm Circulor
SUNNYVALE, CA July 8, 2020 - In October 2019, Plug and Play and the Alliance to End Plastic Waste announced the creation of a global sustainability accelerator program with the mission to find and grow the best startups that are tackling the plastic waste crisis, reducing carbon emissions, and enabling the transition to a circular and more sustainable economy. Not only is Plug and Play dedicated to finding and accelerating these startups, but Saeed Amidi, Founder & CEO of Plug and Play, has committed to making substantial investments into sustainability focused startups. “Companies around the world are waking up to the reality that sustainability is no longer a ‘nice to have’ but a must have in their company and their culture,” said Amidi. With this ambitious goal and drive to support innovation in sustainability, Plug and Play is proud to announce its investment alongside Volvo Cars Tech Fund, Total Carbon Neutrality Ventures, and SYSTEMIQ into Circulor.
Circulor, a UK based blockchain startup, employs technologies to improve the transparency and resilience of industrial supply chains. Customers use Circulor to verify responsible sourcing, underpin effective recycling, as well as to attribute CO2 footprint and other impact metrics to the flow of materials within their supply chains. This activity directly supports manufacturers in addressing the UN Sustainability Goals by reaching parts of their supply chains that most currently have little real visibility into.
“Plug and Play is committed to promoting new and innovative ideas to solve some of the most difficult environmental challenges that our society is facing today,” said Matthew Claxton, Global Director of Sustainability at Plug and Play. “I could not be more proud of our investment into Circulor. Together with the Circulor team, we will work with our 400+ corporate partners from around the world and different industries to create a more sustainable and ethical supply chains, track and reduce their CO2 footprint, and improve materials recycling infrastructure so that we can truly move to a circular and more sustainable economy.”
Plug and Play Sustainability was launched in 2019 with the goal of accelerating and investing in game-changing ideas and innovations that are solving our plastic waste crisis, providing clean drinking water, and enabling the transition to a circular economy.
About Plug and Play
Plug and Play is a global innovation platform. Headquartered in Silicon Valley, we have built accelerator programs, corporate innovation services, and an in-house VC to make technological advancement progress faster than ever before. Since our inception in 2006, our programs have expanded worldwide to include a presence in over 30 locations giving startups the necessary resources to succeed and expand into new markets. With over 10,000 startups, 1,200 investments, and 400 official corporate partners, we have created the ultimate startup ecosystem in many industries. Companies in our community have raised over $9 billion in funding, with successful portfolio exits including Honey, Dropbox, Lending Club, and PayPal.To learn more, visit https://www.plugandplaytechcenter.com/sustainability/
Plug and Play Contact
Global Sustainability Director