The Coca-Cola Co. is joining processing equipment and solutions company Hillenbrand and nonprofit Net Impact in hosting a competition to find ways to increase the supply of recycled polyethylene terephthalate for packaging.
This is the second year the partners have hosted the Circular Plastics Case Competition. While the specific competition topic shifts for each new challenge, the companies say the overarching goal of the competition series is to foster the development of innovative solutions that keep plastics in the economy and out of the environment.
Last year, the inaugural competition had more than 50 submissions from 10 countries. Ashaya, a startup in India, won first place for its concept of turning postconsumer multilayer plastic, often found in snack bags, into new products.
The challenge brief notes that one of the most popular 2030 sustainability pledges that brands commit to is to boost the amount of postconsumer recycled material in products, but “the demand for rPET is not keeping pace with supply due to low levels of recycling rates, particularly in the United States.” It cites McKinsey & Co. data showing that the rPET supply only grew 1% from 2021 to 2022, yet consumption increased by 4% per year during the same period. By 2030, demand could be three times the level of supply, according to McKinsey data cited in the brief.
PET bottles have the highest recovery rate among PET products, according to the brief, but less than one-third, 27%, of the PET bottles produced are collected for recycling. After processing and sorting, only 18% of PET bottles are recycled, according to McKinsey data cited in the brief.
Coca-Cola itself has ongoing efforts to increase the amount of PCR it uses in products, with a pledge to reach 50% in its packaging by 2030. The company has 25% recycled material in its products globally, and 15% of the PET is rPET, according to its 2022 sustainability report. Last year, it became the first announced customer to buy rPET from Republic Services’ new polymer centers, the first of which opened in Las Vegas in December.
“By focusing this year's challenge on rPET, we hope to unearth innovative strategies to increase the supply and overcome the present restraints,” Kurt Ritter, vice president and general manager of sustainability at Coca‑Cola North America, said in a news release. “I am confident that the unique perspectives and resourceful ideas of the participants will help us advance a more circular and sustainable economy.”
The early submission deadline is March 8 and final submissions are due March 29. Up to five teams will be selected as finalists, who will present their solutions during a global virtual broadcast in May. The first place winner will receive $10,000, and the second and third place winners will receive $2,500 and $1,000, respectively. Early-stage businesses that have raised $100,000 or more in capital so far cannot apply.
