Technological watch

US investments advance circular economy / Three water brands' bottles go 100% rPET

US investments advance circular economy / Three water brands' bottles go 100% rPETOne goal of Nestle's backing is to boost US recycling rates (Photo: Nestle)Swiss food and drink conglomerate Nestle (Vevey; www.nestle.com) has announced a USD 30 m (EUR 25.4 m) investment in the â??Closed Loop Leadership Fundâ?, a private equity fund created to finance companies in the US aiming to increase recycling rates. â??Nestleâ??s investment is a significant commitment to help modernise, optimise and capitalise circular economy infrastructure in the US and harness innovative technologies to keep materials in manufacturing supply chains,â? said Ron Green, CEO of Closed Loop Partners (New York / USA; www.closedloopfund.com). The investment firm is responsible for a USD 100m social-impact investment fund committed to leading the shift from virgin plastics to the use of food-grade recycled plastics in the US.
The investment is the first to utilise Nestlesâ?? packaging venture established earlier this year and provides the firm access to recycled plastics feedstock processed by companies in which the fund invests. The financing is also expected to secure greater volumes of food-grade recycled plastics for the companyâ??s packaging. The investment is part of the companyâ??s overall outlay of CHF 2 bn (EUR 1.8 bn) for the development of sustainable packaging systems (see Plasteurope.com of 22.01.2020).
Nestle Waters North America (Stamford, Connecticut / USA; www.nestle-watersna.com) has announced that three more of its US domestic still-water brands have started to convert their packaging to 100% recycled plastic. Containers for its â??Ozarkaâ?, â??Deer Park,â? and â??Zephyrhillsâ? brands of 100% natural spring waters, which have long been completely recyclable, will now be both fully recyclable and made completely of rPET. The expansion of recycled PET to these brands reduces the need for new plastic and lowers the companyâ??s carbon footprint while supporting 757,000 jobs in recycling and reuse activities in the US, said David Tulauskas, vice-president and chief sustainability officer at Nestle Waters North America.22.09.2020 Plasteurope.com [245935-0]

Publication date: 22/09/2020

Plasteurope

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Last update: 2020-07-14