When it comes to the climate emergency, some artists are putting their money where fans’ mouths are. A startup called Cove, which is making biodegradable water bottles, has raised $20m since 2018.
According to Bloomberg its investors include Diplo, Ellie Goulding, Kygo and “a few pop stars” who the company’s CEO Alex Totterman declined to name.
Bloomberg’s profile is a good guide to what Cove is doing, and how it has faced a few bumps along the road to putting its bottles on sale – “in the coming months” apparently, for $2.99 apiece.
The company says that it is ready to produce 20m bottles a year for retailers and brands. Many music festivals have been making a big push to encourage their attendees to use reusable water bottles in recent years, so it remains to be seen how much impact biodegradable bottles might make in that space.
Still, with musicians among Cove’s investors, perhaps it will get an early insight into opportunities in our sector.