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| Danone invests in firm selling bottled water from ocean floor | Danone invests in firm selling bottled water from ocean floor |
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| Water comes from a deep ocean current off the coast of Hawaii and is desalinated using reverse osmosis | |
| Reuters | |
| Wed 22 Nov 2017 01.08 GMT | |
| Last modified on Wed 22 Nov 2017 01.53 GMT | |
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| Evian and Volvic owner Danone has put money into a Hawaiian bottled water from the bottom of the Pacific Ocean, showing the depths multinationals will now go to in the quest for more revenue. | Evian and Volvic owner Danone has put money into a Hawaiian bottled water from the bottom of the Pacific Ocean, showing the depths multinationals will now go to in the quest for more revenue. |
| The investment in Kona Deep, for an undisclosed sum, is the fifth in a year for Danone Manifesto Ventures, a fund the French food giant set up last year to invest in entrepreneurial companies, which are eating away at the dominance of big brands. | The investment in Kona Deep, for an undisclosed sum, is the fifth in a year for Danone Manifesto Ventures, a fund the French food giant set up last year to invest in entrepreneurial companies, which are eating away at the dominance of big brands. |
| Kona Deep sources its water from a deep ocean current off the coast of Hawaii. The two-year-old company says its water has a unique blend of naturally occurring electrolytes and minerals that make it extra-hydrating. | Kona Deep sources its water from a deep ocean current off the coast of Hawaii. The two-year-old company says its water has a unique blend of naturally occurring electrolytes and minerals that make it extra-hydrating. |
| Danone, the world’s third-biggest bottled water company, is one of nine food giants to set up such a fund recently. | Danone, the world’s third-biggest bottled water company, is one of nine food giants to set up such a fund recently. |
| A case of 12 one-litre bottles of Kona Deep can be found online for $33, nearly triple the price of a case of Evian. | A case of 12 one-litre bottles of Kona Deep can be found online for $33, nearly triple the price of a case of Evian. |
| After being pumped through a pipe that reaches 3,000 feet below the ocean’s surface, Kona Deep desalinates the water using reverse osmosis, and bottles it. | After being pumped through a pipe that reaches 3,000 feet below the ocean’s surface, Kona Deep desalinates the water using reverse osmosis, and bottles it. |
| Danone did not give details about the environmental impact of the process, but said on Tuesday ocean water was a renewable source and that Kona Deep sources it in a “responsible and sustainable manner.” | Danone did not give details about the environmental impact of the process, but said on Tuesday ocean water was a renewable source and that Kona Deep sources it in a “responsible and sustainable manner.” |
| Kona Deep can benefit from Danone’s experience with eco-friendly packaging and community management, it added. | Kona Deep can benefit from Danone’s experience with eco-friendly packaging and community management, it added. |
| Danone is taking a minority stake as part of Kona Deep’s $5.5m capital raising effort, which also includes private equity firm Grand Crossing Capital and local Hawaiian investors. | Danone is taking a minority stake as part of Kona Deep’s $5.5m capital raising effort, which also includes private equity firm Grand Crossing Capital and local Hawaiian investors. |
| The brand has recently expanded from Hawaii to the US mainland and plans to use the funds to expand distribution and production capacity. | The brand has recently expanded from Hawaii to the US mainland and plans to use the funds to expand distribution and production capacity. |
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