Loop Industries, a leading technology innovator in sustainable plastic today announced that they have entered into a multi-year supply framework with the Coca-Cola System’s Cross Enterprise Procurement Group (“CEPG”) to supply 100% recycled and sustainable Loop™ PET plastic.
Canadian recycling technology start-up Loop Industries is a provider of enhanced recycling technology that makes available new sources of high quality recyclable PET, which previously could not be used due to colourant or other recyclability obstacles.
Loop’s mission is to accelerate the world’s shift toward sustainable plastic and away from our dependence on fossil fuels. Loop has created a revolutionary technology poised to transform the plastics industry.
Daniel Solomita, Founder and CEO of Loop Industries 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 authorized bottlers as they work to meet their recycled content ambitions.”
By early 2020, CCEP expects to be using recycled PET in its product packaging, supporting Coca-Cola’s global vision of working towards their holistic plan called “World Without Waste”.
“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.”
“This is an important investment as it directly supports our sustainability action plan, This is Forward.”
“As part of This is Forward, we’ve committed to ensuring that at least 50% of the material we use for our PET bottles comes from recycled plastic by 2025. This is part of a holistic strategy focused on creating a more circular packaging economy.” said Ron Lewis, Chief Supply Chain Officer, Coca-Cola European Partners, a bottler member of CEPG.