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Loop Industries signs multi-year supply deal with Coca-Cola for 100% recycled PET
On the heels of a multi-year supply agreement with PepsiCo for 100% sustainable plastic announced in October, Loop Industries Inc. (Montréal) has just secured a multi-year supply deal with Coca-Cola.
Working with Coca-Cola’s Cross Enterprise Procurement Group (CEPG), Loop will supply 100% recycled and sustainable PET plastic from its joint venture facility with Indorama Ventures Ltd. in the United States to authorized Coca-Cola bottlers who enter into a supply agreement with Loop. Indorama Ventures is a chemicals company and global integrated PET and fibers supplier serving major customers in diversified end-use markets, according to Loop.
“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 our environmental impact,” said Ron Lewis, Chief Supply Chain Officer, Coca-Cola European Partners, a bottler member of CEPG. “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.”
This arrangement continues the rapid progress made by Loop as it commercializes its breakthrough depolymerization technology, which will help reduce global plastic waste and enable major global brands to meet their sustainability goals, said Loop.
In a separate announcement in July, Loop announced a new program that allows consumers of Gatorade, a subsidiary of PepsiCo, to return and upcycle used Gatorade Gx pods into products of greater value using Loop’s upcycling technology. Gatorade Gx is a sports fuel customization platform that, Loop said, “will change the way athletes hydrate and fuel now and into the future.” The Gx platform combines science-backed products with newly designed formula pods and custom squeeze bottles.
Consumers can order their Gx bottle and pods on Gatorade’s website and elect to receive the free Gx/Loop mail-back pouch. Consumers just drop their used pods into the pouch, seal it once full and drop it in the mailbox. The pre-paid pouch is sent to Loop’s facility, where the PET segments of each pod are deconstructed into their base monomers, purified and upcycled into new virgin-quality, food-grade PET. As the demand for sustainable packaging solutions continues to grow, Loop Industries’ transformative technology allows no and low-value plastics to be diverted, recovered and recycled endlessly into new, virgin-quality Loop PET plastic, said Loop.