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    Home > Chemicals Industry > Rubber Plastic News > Nestlé smashes CHF 2 billion to invest in R&D and application of food-grade recycled plastics

    Nestlé smashes CHF 2 billion to invest in R&D and application of food-grade recycled plastics

    • Last Update: 2022-08-21
    • Source: Internet
    • Author: User
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    Nestlé will invest up to CHF 2 billion (£1.
    59 billion) to lead the shift from virgin plastic to food-grade recycled plastic


    .


    Nestlé, which owns brands such as KitKat and Nesquik, has pledged to recycle or reuse 100 percent of its product packaging by 2025


    .


    Virgin plastics are never resins produced directly from petrochemical feedstocks such as crude oil and natural gas


    .


    In addition, Nestlé will launch a CHF 250 million Sustainable Packaging Venture Fund, which will be used to invest in start-ups in packaging innovations, new materials, complementary systems and recycling solutions


    .


    Nestlé CEO Mark Schneider said: “No plastic product should end up in landfill or waste


    .


    Andrew Morlet, CEO of the Ellen MacArthur Foundation, commented: "We are delighted to see Nestlé committing CHF 2 billion to create a circular economy for plastics


    .


    By 2025, Nestlé will reduce its use of packaging by a third, he said


    .


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