Revive Eco Gets Boost to Recycle Coffee Grounds into Palm Oil Alternatives
Scotland-based Revive Eco announced on 19 December that it has secured an investment of £375,000 led by Gabriel Investment Syndicate to commercialize a patent-pending process to recycle coffee grounds into sustainable palm oil alternative.
Co-founders Fergus Moore and Scott Kennedy have found a method of leveraging coffee waste to create a palm oil alternative that can be used across the cosmetics, home cleaning, pharmaceutical, and food and drink sectors.
Fergus Moore, co-founder of Revive Eco, said: “With the support of our investors, we can progress our mission to make coffee the most sustainable commodity on the planet, and move our production from the lab to industrial scale.”
Over 500,000 tons of used coffee grounds are produced in the UK every year, costing the coffee industry around £80m per year in waste removal. The Glasgow-based company extracts high-value, natural chemicals from coffee grounds to produce their palm oil alternative.
Production of palm oil, which is used in many household products, is one of the main drivers of deforestation and carbon emissions globally. Approximately 70 million tons of palm oil are produced annually.
Revive Eco is set to begin trials with a number of big brands in the UK and across Europe and hopes to announce a series of partnerships and contract wins during 2023.
Moore added: “With the rise of ESG, corporations and manufacturers are under increasing pressure to find alternatives to palm oil, so the moment for us to help bring about change is here and now.”