CocaCola European Partners (CCEP) said it has decided to invest in CuRe Technology, a recycling start-up that transforms difficult to recycle plastic waste to high-quality recycled polyethylene terephthalate (rPET).
CuRe will initially apply its end-to-end partial depolymerization recycling process to convert opaque and difficult to recycle food grade PET to rPET that can be used again for food and drink packaging in one continuous process on the same site.
Funding from CCEP, through its innovation investment fund, CCEP Ventures, will allow CuRe to accelerate its technology from pilot plant to commercial readiness. Once commercialized, CCEP will receive the majority of the output from a CuRe licensed, new-build plant.
The investment is part of CCEP's ambition, in partnership with The Coca-Cola Co. in Western Europe, to eliminate virgin oil-based PET from its bottles within the next decade, CCEP noted.
CCEP and Coca-Cola have pledged that by 2025, CocaCola will collect a can or bottle for every one it sells and ensure that all its packaging is 100 % recyclable. It has committed to using at least 50 % rPET by 2023.
"Polyester is one of the world's most reversible plastics and should not go to waste," said CuRe Technology Chief Commercial Officer Josse Kunst.
Source: Weekly “PetroChemical News”, Durham, NC, USA; 27 July 2020
(Syed Rashid Ali, Karachi, Pakistan)