The Coca-Cola Company has extended an agreement that involves the extension of a loan to Netherlands-based Ioniqa Technologies in order to develop its technology that produces high-grade recycled PET content from hard to recycle PET waste.

The beverage giant claims this will quicken the deployment of high-grade recycled content PET for use in Coke’s bottles as well as supporting the company’s vision to work towards a global goal of creating packaging made from at least 50 per cent recycled material by 2030.

The technology has already been validated at the demonstration scale with value chain partners, whilst a 10,000-tonne industrial plant is under construction in The Netherlands, for commissioning in 2019.

Robert Long, chief innovation officer at Coca-Cola, said: “Our investment in new and pioneering recycling technologies is an opportunity for significant movement toward closing the loop and creating a circular economy for PET. We plan to continue investment in developing the right partnerships and initiatives – like with Ioniqa – to support our vision of a World Without Waste.”

Coca Cola European Partners also recently purchased a supply of 100 per cent rPET from Loop Industries in order to increase its use of recycled materials in the creation of its bottles. It expects to be using Loop rPET in its packaging by early 2020.