Hive Energy, a global renewable energy developer, and circular economy investor currently holds a 27 GW pipeline of clean energy projects across more than 20 countries. The Hive Energy Group consists of global clean futures teams, including Hive Ventures, based in Liverpool, UK.
Hive Ventures is at the heart of Hive Energy’s circular economy investments. Over the past two years, the Hive Ventures team has invested in three green start-ups in the UK and the Netherlands; the companies produce sustainable packaging alternatives and bioenergy. The BambooLogic acquisition marks the fourth procurement for Hive Ventures.
BambooLogic is a well-aligned partner for Hive Energy as the company’s European low-footprint bamboo production is low-waste, fully biodegradable, and beneficial for carbon sequestration and storage within soil and durable products. The investment from Hive will support BambooLogic to accelerate business across Portugal and Europe, with plans to plant 2,000 hectares of bamboo over the next two years.
BambooLogic is the first large-scale and industry-oriented bamboo plantation company in Europe. Currently, the company has around 150 hectares established in Southern Portugal to grow bamboo, which will then be sold as a low-footprint material for use across the textile, paper, construction, composite, and food sectors. In addition to the production of affordable and sustainable bamboo, the company will be storing carbon in the soil on the farms which can then be assigned as carbon removal credits. Over the first 15 years of the project, BambooLogic plans to sequester 1,000,000 tonnes of CO2.
Nearly three-fourths of consumers are willing to pay more for sustainable packaging, according to research by Trivium Packaging. The report, developed in partnership with Boston Consulting Group, surveyed participants for their preferences related to sustainable packaging along with their willingness to pay more for products with environmentally friendly packaging.
More than two out of three consumers cite using environmentally friendly, recyclable packaging as an important step to help reduce global waste. And of the 74% who said they would pay more for sustainable packaging, nearly one-fourth are willing to pay for an increased cost of 10% or more.