The Coca-Cola Company Announces Loan Agreement with Ioniqa Technologies to Transform Hard-to-Recycle Plastic Waste into High-...
December 13 2018 - 7:00AM
Business Wire
Agreement with Ioniqa Reflects Investment in
Promising New Recycling Technologies
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 at
www.coca-colacompany.com and follow us on Twitter, Instagram,
Facebook and LinkedIn.
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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version on businesswire.com: https://www.businesswire.com/news/home/20181213005119/en/
Media: Amanda Rosseter and Joanna
Richardspress@coca-cola.com+1 404.676.2683Ioniqa Technologies,
Eindhoven (NL)Telephone +31 40 751 76 30,Web: Ioniqa.comEmail:
info@ioniqa.comTwitter: @IoniqaCircular
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