IKEA Announces IKEA GreenTech; Will Invest 50 Million Euros in Startups

According to a recent article by the Cleantech Group, Sweden-based IKEA announced its IKEA GreenTech investment group on August 6th.

According to the article, IKEA GreenTech is located in Lund, Sweden, and was created approximately eight months ago.  It will provide 50 million euros to eight to 10 companies over the next five years in the areas of solar panels, alternative light sources, product materials, energy efficiency, and water saving and purification. 

In terms of the geographic focus of its investments, Johan Stenebo, managing director of Ikea GreenTech, told the Cleantech Group, "Initially, we will be looking more in Europe than anywhere else, but we do not have any geographical restrictions for our investments."

Additional information on IKEA GreenTech can be obtained via e-mail at: igt<at>memo.ikea.com

For more information:

• IKEA Group - Climate Change
• Shopping for Cleantech at Ikea (Cleantech Group, August 6, 2008)