Coca-Cola Europacific Partners (CCEP) has made an additional investment into plastic processing and revitalisation technology start-up Cure Technology.
The investment into the plastic tech company was made through CCEP’s venture capital arm CCEP Ventures. The funding, an undisclosed sum, will be used to scale Cure’s plastic recycling process to commercial viability.
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Cure claims to have developed an end-to-end process for hard-to-recyle plastic waste. A key offering of the system is the ability to take coloured plastic waste and treat it so the ink is removed, leaving behind clear rPET plastic granulates.
The technology also rejuvenates the quality of the rPET through a depolymerisation process that improves the grade of the plastic.
CCEP had previously invested in the PET recycling technology company – again for an undisclosed amount – in 2020. That investment was used to help Cure Technology establish an R&D roadmap and the establishment of a pilot facility to test the process in the Netherlands.
“We are committed to reducing the environmental impact of our packaging, and eliminating the use of oil-based virgin plastic in our bottles by the end of the decade,” said CCEP’s VP for sustainability Joe Franses.
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By GlobalData“Packaging challenges need big ideas to tackle them, and through CCEP Ventures we can accelerate innovative solutions to help us meet our ambitions. CuRe’s technology will give us access to recycled plastic that will accelerate our transition to a circular economy for our packaging.”
Cure Technology’s pilot plant can now take a bale of sorted plastic waste and convert it to rPET granulates ready for reuse by manufacturers. In 2021, the company extend the facility and its capabilities to include an additional repolymerisation line.
The plastic tech group claims that its process can create high-quality rPET from tough to convert wastes at roughly 65% of the carbon footprint of virgin PET.
The cost of recycled PET raw material has increased significantly in recent years as demand grows. Last year, the cost of recyclable PET plastic jumped 103% YoY to €1,690 per tonne in Europe.
Earlier this year, CCEP Ventures backed two carbon capture R&D projects at two European universities.
