Virent and The Coca-Cola Company Sign Agreements to Develop and Supply 100% Renewable, Recyclable PlantBottleâ„¢
VirentÃ¢s Plant-Based Paraxylene Paves the Way for a 100% Bio-PET Bottle
Madison, Wisconsin (PRWEB) December 15, 2011
Virent and The Coca-Cola Company announced today they have entered into a new strategic partnership to accelerate the commercialization of renewable, recyclable materials for beverage packaging. The companies have signed multi-year, multi-million dollar Joint Development and Supply Agreements to scale-up VirentÃ¢s plant-based Paraxylene (PX), trademarked BioFormPXÃ¢“¢, as a route to commercially viable, 100% renewable, 100% recyclable PlantBottleÃ¢“¢ PET resin. VirentÃ¢s BioFormPX will be used in Coca-ColaÃ¢s existing supply chain to make 100% bio-based PTA that will be mixed with biobased MEG to produce PlantBottleÃ¢“¢ PET Resin with 100% bio-based content.
“The Coca-Cola CompanyÃ¢s commitment to provide its customers with PlantBottleÃ¢“¢ packaging made from 100% renewable and recyclable materials is a bold example of visionary brand leadership,” said Lee Edwards, CEO of Virent. “I am delighted that VirentÃ¢s partnership with Coca-Cola will play a significant role in achieving this vision.”
Ã¢Å“While the technology to make bio-based materials in a lab has been available for years, we believe Virent is a company that possesses technologies that have high potential for creating them on a global commercial scale within the next few years,Ã¢ said Rick Frazier, Vice President, Commercial Product Supply, The Coca-Cola Company. Ã¢Å“This is a significant R&D investment in packaging innovation and is the next step toward our vision of creating all of our plastic packaging from responsibly sourced plant-based materials.Ã¢
Virent and The Coca-Cola Company will rapidly progress both development and engineering under this effort, with Virent targeting 2015 for the first commercial plant opening. The majority of the PX produced from VirentÃ¢s first plant will be allocated for purchase by The Coca-Cola CompanyÃ¢s supply chain partners for the CompanyÃ¢s product packaging. Virent will reserve the remainder of the BioFormPXTM for market development in complementary PET and polyester applications.
The world’s largest soft-drink maker introduced the PlantBottleÃ¢“¢ packaging in 2009, which consists of a conventional plastic made with up to 30 percent plant-based material. Since that time, The Coca-Cola Company has aggressively sought viable plant-based options for the remaining 70 percent of the material. VirentÃ¢s BioFormPXÃ¢“¢ product will allow Coca-Cola to offer its customers up to 100% renewable, 100% recyclable bottles which can be processed through existing manufacturing and recycling facilities.
Virent is replacing crude oil by creating the chemicals and fuels the world demands using a wide range of naturally-occurring, renewable resources. Their patented technology features catalytic chemistry to convert plant-based sugars and agricultural residues into a full range of products identical to those made from petroleum, including gasoline, diesel, jet fuel, and chemicals for plastics and fibers. The products are Ã¢Å“drop-inÃ¢ replacements that enable full utilization of existing logistics infrastructure without blending limitations. The development of VirentÃ¢s BioForming® technology platform is supported through strategic investors including Cargill, Shell and Honda, as well as 120 employees based in Madison, Wisconsin. Please learn more at http://www.Virent.com.
Marketing Manager, Virent Energy Systems
3571 Anderson St.
Madison, WI 53704
# # #
For the original version on PRWeb visit: http://www.prweb.com/releases/prweb2011/12/prweb9043410.htm