The Coca-Cola Company has made a new agreement extending a loan to Ioniqa Technologies, The Netherlands, to develop Ioniqa’s proprietary technology to produce high-grade, recycled PET content from hard-to-recycle PET waste.
The new agreement will fast-track the development and deployment of high-grade recycled content PET for use in bottles used by The Coca-Cola Company. This initiative will work toward a ‘World Without Waste’ strategy, which includes creating packaging made of at least 50% recycled material by 2030. The new technology will enable packages such as colored PET bottles of food-grade by using recycled plastics, excluded from certain recycling streams.
Ioniqa’s proprietary recycling technology has successfully been tested at the pilot scale with value chain partners, followed with a 10 kMT industrial plant project under construction in The Netherlands, which is expected to be commissioned in 2019.
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. We plan to continue investment in developing the right partnerships and initiatives – like with Ioniqa – to support our vision of a World Without Waste.”
Tonnis Hooghoudt, CEO of Ioniqa, commented, “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. 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.”