US firm Loop Industries is to provide Coca-Cola European Partners with 100% rPET.
A deal has been signed on a multi-year framework agreement between Loop Industries and the Coca-Cola system’s Cross Enterprise Procurement Group, including Coca-Cola European Partners (CCEP) to supply the material.
Loop Industries depolymerises waste polyester plastic to turn it into monomers. These are then repolymerised to create virgin-quality plastic.
The material will be supplied from the joint venture facility being set up by Loop Industries and Indorama Ventures in the United States. It is expected that the rPET will be available for Coca-Cola in 2020 when the facility is due to open.
CCEP chief supply chain officer Ron Lewis said: “This is an important investment as it directly supports our sustainability action plan, This is Forward. As part of This is Forward, we’ve committed to ensuring that at least 50% of the material we use for our PET bottles comes from recycled plastic by 2025. This is part of a holistic strategy focused on creating a more circular packaging economy.”
Loop Industries chief executive Daniel Solomita added: “We are very proud to become a supplier of Loop branded PET resin to the members of the Coca-Cola system’s Cross Enterprise Procurement Group. We are especially pleased to be able to assist Coca-Cola’s authorized bottlers as they work to meet their recycled content ambitions.”
The company also recently signed a deal with PepsiCo to provide rPET.