Having an integrated clean technology strategy will be a big part of winning business in the 21st century, a Coca-Cola executive told Reuters.com on Monday, and its investments in refrigeration will likely have the biggest impact on that strategy long-term.
The world's biggest soft drinks maker has hooked up with Greenpeace on an initiative to eliminate hydrofluorocarbons (HFCs) -- greenhouse gases with a high warming effect -- from its refrigeration and cooling equipment by 2015, said Jeff Seabright, Coke's vice president for Environment & Water Resources.
“We have about 10 million pieces of equipment that run in 200 countries around the world every day, and although we’re only 1 percent of the commercial refrigeration market we have an opportunity to really lead on this,” he said.
Coke is also investing indirectly to keep ahead of the curve on new frontier technologies.
Seabright said Coke has around $70 million in two clean tech venture capital funds, DJF Element and Rockport Capital and that, in addition to expecting better than market rate returns, such investments give it a front-row seat for the latest technologies.