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Amazon invests in Italian automated packaging machines maker -Breaking

by Mike Robinson

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© Reuters.

MILAN (Reuters: Amazon (NASDAQ) has purchased a minority share in Italy’s CMC Machinery through its Climate Pledge Fund. This company uses technology to make custom-sized boxes, which eliminates the need for plastic packaging.

CMC is owned by private equity firm KKR. It counts Amazon (NYSE:) and Walmart (NYSE.

Climate Pledge Fund is an investment fund for corporate venture capital, which has a $2 billion initial funding. It invests in companies developing sustainable technologies.

Amazon announced Wednesday that the Climate Pledge Fund also invested in Resilient Power, a U.S. company that develops electric vehicles and Infinium, a U.S. supplier of ultra-low carbon fuels.

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