Starbucks will be testing out cold pressed espresso in a limited number of stores this year, the Seattle-based company revealed Wednesday during its biannual investors meeting in celebration of the company’s 50th anniversary. The drink was initially introduced at the Starbucks Reserve Roastery in Seattle in 2017 and expands the company’s growing (and lucrative) cold beverages platform, including the recently launched shaken iced espresso drinks.
“We’ve made great advances in cold coffee innovation in response to the ever-growing customer demand and interest, from Cold Brew, to Nitro Cold Brew to the newest Iced Shaken Espresso beverages,” Luigi Bonini, senior vice president, global product and research and development at Starbucks said in a statement. “The method of cold pressing espresso to order, which tastes exceptionally smooth, full-bodied and sweet, has opened up so many exciting possibilities for the future of cold craft coffee recipes.”
The company also unveiled several other milestones and goals in celebration of its 50th anniversary shareholders meeting:
Mellody Hobson begins her tenure as non-executive chair of the board of directors
She assumes the position after Myron (Mike) E. Ullman, III. retired this month and is currently the only Black woman chairing a Fortune 500 company.
New green goals
Starbucks announced a new plan to achieve carbon neutrality for its green coffee [coffee and water footprints at origin and first phases of the supply chain] and conserve water usage by 50% by 2030. These new goals are announced on the heels of a commitment the company made last fall to become “resource positive,” by putting more resources into the environment than it takes out.
“We need to serve a purpose other than the pursuit of profit,” Starbucks CEO Kevin Johnson said Wednesday regarding the company’s people-first mentality and environmental goals.
First grants awarded to nonprofits that support BIPOC youth
Starbucks announced that a $5 million investment in nonprofit groups that help young people of color including Big Brothers Big Sisters of America, Boys & Girls Clubs of America, City Year, Junior Achievement USA and The National Mentoring Partnership (MENTOR).
Starbucks is opening a sustainable roasting plant in China
The company announced that they are opening a coffee innovation park in China in 2022, which will be one of the first sustainable roasting plants in the company. The roasting plant will showcase new green-friendly roasting innovations and also house an interactive Experience Center, which will demonstrate their sustainability commitment to customers.
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