Indorama Ventures has teamed up with Suntory Holdings, Suntory PepsiCo Beverage (Thailand) and Iwatani to develop commercial-scale circular polyethylene terephthalate (PET) packaging in Thailand through its packaging unit, Indovida.
The project will bring flake-to-preform (FtoP) direct recycling technology to Thailand via Indovida (Thailand), a joint venture set up by Indorama Ventures and Iwatani.
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The patented FtoP process was developed by Suntory and three partner companies, including Japanese recycling company Kyoei Industry.
It allows PET preforms to be made directly from recycled PET bottles.
The companies said the process increases recycling efficiency and lowers environmental impact.
According to Indorama Ventures, this is the first commercial use of the technology in Southeast Asia.
The venture is expected to produce recycled PET preforms equal to around 400 million PET bottles a year.
From 2028, the preforms will be supplied to Suntory PepsiCo Beverage Thailand.
Indorama Ventures said the arrangement adds to its packaging activities by linking its PET, recycled PET and packaging manufacturing operations with technology and external partnerships.
Under the partnership, Indorama Ventures will provide recycled PET, integrated materials and packaging manufacturing expertise.
Suntory will contribute the FtoP technology and operational knowledge developed in Japan while Iwatani will provide industrial expertise and its existing relationship with Suntory.
Suntory PepsiCo Beverage (Thailand) will be the first buyer of the recycled PET preforms made under the project.
Indorama Ventures Group CEO Aloke Lohia said: “This collaboration reflects Indorama Ventures’ commitment to reimagining chemistry for a more circular future by advancing circular PET packaging in Thailand and beyond.
“By combining our integrated PET value chain with world-class recycling technology and strong industry partners, we are expanding our ability to deliver differentiated circular packaging solutions while reinforcing our downstream packaging platform.
“This partnership reflects our IVL 2.0 strategy of building market-leading businesses through focused partnerships, innovation and disciplined investment, creating lasting value for our customers, shareholders and other stakeholders.”
Last month, Indorama Ventures introduced a Zero Waste to Landfill programme at PETValue Philippines, its recycling facility in Cavite.
