Amcor Lift-Off winner, Greyparrot, to advance AI-powered waste analytics for circular economy
Growth-stage start-up to receive $500,000 investment from Amcor
ZURICH, July 13, 2023 /PRNewswire/ -- Amcor (NYSE:AMCR, ASX:AMC), a global leader in developing and producing responsible packaging solutions, today announced its latest Amcor Lift-Off winner is artificial intelligence (AI)-generated waste analytics company, Greyparrot. The growth-stage start-up will receive a $500,000 investment and access to Amcor's world-class capabilities in sustainability and packaging to help scale its innovative AI-powered waste recognition system in support of a circular economy.
Greyparrot deploys cutting-edge AI computer vision systems in resource recovery facilities, which monitor and sort through large waste flows at scale. The data, which is provided to waste managers, producers and regulators, provides critical insights that enable improved sorting, recycling rates and accountability throughout the waste value chain.
Amcor's Vice President of Corporate Venturing and Open Innovation, Frank Lehmann, said, "Amcor's Lift-Off program has established partnerships with a number of companies that are at the forefront of new technology that will drive sustainability in a variety of ways." He added, "We're excited by Greyparrot's technology to deliver valuable information on the life cycle of packaging and other waste and get a clearer understanding of the waste value chain and how we can improve."
Mikela Druckman, co-founder and CEO of Greyparrot, added, "Data is vital in the effort to close the loop on circularity, from improving resource recovery to informing packaging design and regulation. Through the support of Amcor and its Lift-Off program, we're one step closer to digitizing the waste sector, and we're excited to be entering into a new partnership with one of the most impactful organizations in the waste value chain."
Amcor's Lift-Off program provides a platform for early- and growth-stage start-ups to present their innovative ideas within one of six focus areas: alternative barriers; smart and connected packaging; new business models; biomaterials; fiber; and, recycling. All entries are assessed on the merit of their technology, business model, and scalability, as well as how well they fit within Amcor's existing operations. Greyparrot marks the fourth Lift-Off winner since the program's inception in 2022.
Learn more about Amcor's Lift-Off program and Amcor's corporate venturing. To learn more about Greyparrot, visit www.greyparrot.ai.
About Amcor
Amcor is a global leader in developing and producing responsible packaging solutions for food, beverage, pharmaceutical, medical, home and personal-care, and other products. Amcor works with leading companies around the world to protect their products and the people who rely on them, differentiate brands, and improve supply chains through a range of flexible and rigid packaging, specialty cartons, closures, and services. The company is focused on making packaging that is increasingly lighter weight, recyclable and reusable, and made using an increasing amount of recycled content. In fiscal year 2022, 44,000 Amcor people generated $15 billion in annual sales from operations that span 220 locations in 43 countries. NYSE: AMCR; ASX: AMC
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