Zero-waste shopping service Loop gets £1.5m investment from Sky
Sky has invested £1.5 million in “zero-waste” shopping service Loop which promises to “eliminate disposable, single-use shipping materials.”
Loop customers can order items online from a wide range of leading brands and receive their items in exclusively designed reusable containers.
Once the items have been used, Loop will collect the containers for free and clean them using “state of the art technology”, then reuse them.
Nestle, Unilever, P&G and The Body Shop currently offer Loop’s service all of which have “redesigned” containers, such as steel ice-cream tubs, for reuse.
Loop is an initiative from US recycling business TerraCycle, and will be launching with Tesco in the UK in 2020.
This marks the largest investment to date from Sky’s £25 million impact investment fund, founded in 2018 with the goal of supporting new businesses tackling plastic pollution.
“Loop fundamentally changes the way we approach packing and waste,” Sky’s group chief executive Jeremy Darroch said.
“The transition to a circular economy will take time but big ideas like this can and will help change the world our children will inherit.”