IKEA to invest in green technology start-ups

Furniture retailer IKEA is to invest €50 million in 5-10 start-ups over the next five years with a view to selling a range of clean technologies in its stores.

IKEA has named the investment fund IKEA GreenTech. It will focus initially on firms developing solar panels, alternative lighting, product materials, energy efficiency, and water saving and purification technology.

It hopes by working with start-ups it can help the firms cut their prices, develop better products and bring them to market within 4-5 years.

By focusing on a small number of firms, IKEA says it hopes to play an active role within the businesses. Initial investments are expected to be confirmed within months.