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@ 2008/08/08The kitsch Swedish furniture retail chain IKEA has announced big plans to go green. The chain is looking to make a new name for itself, investing €50M on "cleantech" startups over the next five years.
The new unit, IKEA GreenTech, is channeling its efforts in five directions: solar panels, alternative light sources, product materials, energy efficiency, and water saving and purification. The unit will only invest in startups the can guarantee delivery of a product within a four to five year window, as IKEA's ultimate intention is not purely altruism, but rather primarily to sell greentech.
The new unit, IKEA GreenTech, is channeling its efforts in five directions: solar panels, alternative light sources, product materials, energy efficiency, and water saving and purification. The unit will only invest in startups the can guarantee delivery of a product within a four to five year window, as IKEA's ultimate intention is not purely altruism, but rather primarily to sell greentech.
