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Virent and The Coca-Cola Company Sign Agreements to Develop and Supply 100% Renewable, Recyclable PlantBottleâ„¢

December 15, 2011

Virentâs 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 Virent̢s plant-based Paraxylene (PX), trademarked BioFormPX̢Ң, as a route to commercially viable, 100% renewable, 100% recyclable PlantBottle̢Ң PET resin. Virent̢s BioFormPX will be used in Coca-Cola̢s existing supply chain to make 100% bio-based PTA that will be mixed with biobased MEG to produce PlantBottle̢Ң PET Resin with 100% bio-based content.

“The Coca-Cola Companyâs commitment to provide its customers with PlantBottleâ“¢ 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 Virentâs partnership with Coca-Cola will play a significant role in achieving this vision.”

âœWhile 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,â said Rick Frazier, Vice President, Commercial Product Supply, The Coca-Cola Company. âœThis 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.â

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 Virentâs first plant will be allocated for purchase by The Coca-Cola Companyâs supply chain partners for the Companyâs 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 PlantBottleâ“¢ 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. Virentâs BioFormPXâ“¢ 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.

About Virent

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 âœdrop-inâ replacements that enable full utilization of existing logistics infrastructure without blending limitations. The development of Virentâs 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.

Contact

Kelly Morgan

Marketing Manager, Virent Energy Systems

Kelly_morgan(at)virent(dot)com

608-237-8603

3571 Anderson St.

Madison, WI 53704

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For the original version on PRWeb visit: http://www.prweb.com/releases/prweb2011/12/prweb9043410.htm


Source: prweb



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