ATLANTA, Dec. 13, 2018 – 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.”
The Coca‑Cola Company (NYSE: KO) is the world's largest beverage company, refreshing consumers with more than 500 sparkling and still brands and more than 3,800 beverage choices. Led by Coca‑Cola, one of the world's most valuable and recognizable brands, our company’s portfolio features 20 billion-dollar brands, 18 of which are available in reduced-, low- or no-calorie options. Our billion-dollar brands include Diet Coke, Coca‑Cola Zero, Fanta, Sprite, Dasani, vitaminwater, Powerade, Minute Maid, Simply, Del Valle, Georgia and Gold Peak. Through the world's largest beverage distribution system, we are the No. 1 provider of both sparkling and still beverages. More than 1.9 billion servings of our beverages are enjoyed by consumers in more than 200 countries each day. With an enduring commitment to building sustainable communities, our company is focused on initiatives that reduce our environmental footprint, create a safe, inclusive work environment for our associates, and enhance the economic development of the communities where we operate. Together with our bottling partners, we rank among the world's top 10 private employers with more than 700,000 system associates. For more information, visit www.coca-colacompany.com, follow us on Twitter, Facebook, Instagram, or find us on 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.
Media: Amanda Rosseter and Joanna Richards
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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.
Ioniqa Technologies, Eindhoven (NL): Telephone +31 40 751 76 30, Web: Ioniqa.com, Email: firstname.lastname@example.org, Twitter: @IoniqaCircular