Food and drink giant PepsiCo is to work with recycler GreenDot to boost the circular economy.
The pair announced an agreement to support investment to reprocess more plastic waste into materials that can be used in snack packaging.
GreenDot has sorting and recycling activities in Germany, Austria and Italy and supplies circular polymers to brands.
PepsiCo Europe is aiming to eliminate virgin fossil-based plastic from its crisp bags by 2030.
The two companies are collaborating on packaging for Sunbites crisps, made 50 per cent from recycled plastic film packaging, which was launched in the UK last year.
GreenDot chief executive Laurent Auguste described the investment deal as “an important milestone for the industry”.
“It further paves the way towards a circular economy of plastic packaging, with the support of a new type of long-term collaboration between key players of the value chain,” he added.
PepsiCo Europe chief sustainability officer Archana Jagannathan added that the partnership was “critical to scaling our operations and working together towards our shared goal of creating a circular economy for packaging”.
