ATLANTA–(BUSINESS WIRE)–The Coca-Cola Company today announced a new agreement extending a loan to Ioniqa Technologies (The Netherlands) to facilitate the development of Ioniqa’s proprietary technology to produce high-grade, recycled PET content from hard-to-recycle PET waste. The agreement is designed to accelerate the development and deployment of high-grade recycled content PET for use in bottles used by…
ATLANTA–(BUSINESS WIRE)–The Coca-Cola Company today announced a new agreement extending a loan
to Ioniqa Technologies (The Netherlands) to facilitate the development
of Ioniqa’s proprietary technology to produce high-grade, recycled PET
content from hard-to-recycle PET waste. The agreement is designed to
accelerate the development and deployment of high-grade recycled content
PET for use in bottles used by The Coca-Cola Company.
This investment supports the company’s global vision to work toward a
World Without Waste, which includes a goal to create packaging made of
at least 50% recycled material by 2030. The new technology supports the
circular economy for plastics by allowing packages such as colored PET
bottles that may have been excluded from certain recycling streams to be
recycled into food-grade quality packaging.
The agreement is intended to accelerate scale-up of Ioniqa’s recycling
technology for PET. Ioniqa has developed a proprietary recycling
technology that is able to convert hard-to-recycle PET-containing waste
like colored bottles into purified polymer building blocks that can be
later re-formed into high quality PET. The technology has been validated
at the demonstration scale with value chain partners, and a 10 kMT
industrial plant is under construction in The Netherlands for
commissioning in 2019.
“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,” said Robert Long, Chief Innovation
Officer for The Coca-Cola Company. “We plan to continue investment in
developing the right partnerships and initiatives – like with Ioniqa –
to support our vision of a World Without Waste.”
“Partnering with The Coca-Cola Company is a further validation of our
journey to launch this unique process for transforming hard-to-recycle
PET waste into high-quality, food-grade material,” said Tonnis
Hooghoudt, CEO of Ioniqa. “The Ioniqa process allows for significant
recovery and reuse of plastic materials that might otherwise not be
recycled, while delivering quality food grade PET. The launch of our
plant next year will be a step change in the transformation of
hard-to-recycle PET plastic into a more widely usable recycled material,
supporting the vision of Coca-Cola.”
About The Coca-Cola Company
The Coca-Cola Company (NYSE: KO) is a total beverage company, offering
over 500 brands in more than 200 countries and territories. In addition
to the company’s Coca-Cola brands, our portfolio includes some of the
world’s most valuable beverage brands, such as AdeS soy-based beverages,
Ayataka green tea, Dasani waters, Del Valle juices and nectars, Fanta,
Georgia coffee, Gold Peak teas and coffees, Honest Tea, innocent
smoothies and juices, Minute Maid juices, Powerade sports drinks, Simply
juices, smartwater, Sprite, vitaminwater and ZICO coconut water. We’re
constantly transforming our portfolio, from reducing sugar in our drinks
to bringing innovative new products to market. We’re also working to
reduce our environmental impact by replenishing water and promoting
recycling. With our bottling partners, we employ more than 700,000
people, helping bring economic opportunity to local communities
worldwide. Learn more at Coca-Cola Journey atwww.coca-colacompany.com
and follow us onTwitter,
The fairlife® brand is owned by fairlife LLC, our joint venture with
Select Milk Producers Inc. Products from fairlife are distributed by our
company and certain of our bottling partners.
About Ioniqa Technologies
Ioniqa is a clean-tech spinoff from the Eindhoven University of
Technology (The Netherlands), specialized in creating value out of waste
by using its proprietary circular technology. With a cost-effective
process, Ioniqa is able to close the loop for plastics, starting with
PET plastics. This award winning innovation transforms all types and
colors of PET waste into valuable sources for ‘virgin-quality’ recycled
PET. Up-cycling processes for other types of plastic are being
researched and expected to be launched in the near future.
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