PET recycling company gets investment from Coca-Cola

A Netherlands-based recycling company, Ioniqa Technologies entered an agreement with Coca-Cola to develop “high-grade, recycled PET content from hard-to-recycle PET waste.”

Via Food Dive,

The loan comes as Coca-Cola pursues plans to transition to at least 50% recycled packaging materials by 2030. Most forms of PET are easy to recycle, but the Ioniqa technology targets the outliers that may have been excluded from recycling streams, such as colored plastic bottles.

Robert Long, Chief Innovation Officer for The Coca-Cola Company said “Our investment in new and pioneering recycling technologies is an opportunity for significant movement toward closing the loop and creating a circular economy for PET.”

This partnership no doubt is due to an increase of consumers who are becoming aware of materials that harm the planet. As a result there is desire to have eco-friendly products and alternatives that are sustainable.

“Ioniqa says it solves this problem by producing a food-grade PET from post-consumer recycled waste. It isn’t alone. Montreal-based Loop Industries partnered with Evian earlier this year to develop 100% recycled bottles. Loop is also working with Coca-Cola to integrate recycled plastics into European bottling plants. More beverage companies are getting involved in recycling efforts to get ahead of competition and show consumers they prioritize sustainability efforts” according to Food Dive.

Coca-Cola will launch their new plant to recycle PET plastic into usable material next year.

 

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