Canada-based sustainable plastic technology company Loop Industries has signed a multi-year supply framework with Cross Enterprise Procurement Group (CEPG) to supply 100% recycled PET plastic to Coca-Cola bottlers.
The packaging company will offer Loop PET plastic produced from its joint venture facility with Indorama Ventures.
CEPG’s bottler member Coca-Cola European Partners’ chief supply chain officer Ron Lewis said: “Like all responsible companies, we need to be selective in choosing our packaging materials so that we continue to eliminate waste and work to reduce the environmental impact.
“Investments like this one with Loop Industries support our goal to ensure that at least 50% of the material we use for our PET bottles comes from recycled plastic, and will help us divert more materials from landfills and build a stronger circular plastic economy.”
The agreement supports Loop to commercialise its depolymerisation technology in reducing global plastic waste and assist major brands in meeting sustainability goals.
Loop’s technology decouples plastic from fossil fuels by depolymerising waste polyester plastic to monomers, which will be then re-polymerised to produce virgin-quality polyester plastic.
Loop Industries founder and CEO Daniel Solomita said: “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 authorised bottlers as they work to meet their recycled content ambitions.”