Nestle Invests in Startup to Explore New Alternative Packaging Technologies
Plastic Recycling | 2020-12-15 11:11:16
The investment by Nestle is part of its efforts to design and develop multiple sustainable packaging solutions to address the global plastic pollution.
By Paul Ploumis
SEATTLE (Scrap Monster): Nestle Waters North America (NWNA) announced its decision to invest in a Florida-based startup company. The investment in Timeplast is aimed at exploring new alternative packaging technologies, in order to curb the impacts caused by plastics that end up in landfills, oceans and waterways. The amount of investment was not disclosed.
According to company press release, the two companies will form a limited liability company named TPN Alliance Polymers, LLC, which will have its base in Coral Gables, Florida. Nestle will provide financial and other supports to evaluate Timeplast’s technology by combining with NWNA’s time-tested safety, quality and performance standards.
The investment by Nestle is part of its efforts to design and develop multiple sustainable packaging solutions to address the global plastic pollution. It must be noted that the company has almost doubled its recycled PET plastic usage across its U.S. domestic portfolio since 2019. Moreover, it has committed to achieve 50% rPET content by 2050.
David Tulauskas, Vice President and Chief Sustainability Officer, NWNA noted that the company is highly enthusiastic to build its work by exploring alternative technologies such as the ones offered by Timeplast. The partnership will accelerate NWNA’s progress toward a zero-waste future.
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