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Coca-Cola inks loan deal with Ioniqa Technologies for plastic waste to food-grade PET recycling
The Coca-Cola Company spawns 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.
Ioniqa is a clean-tech spinoff from the Eindhoven University of Technology (The Netherlands), specialised in creating value out of waste by using its proprietary circular technology.
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 coloured 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 coloured 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.
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