Nestle invests in Startup Timeplast for Alternative Packaging Technologies
STAMFORD, Conn., Dec. 10, 2020 /PRNewswire/ -- Nestlé Waters North America (NWNA) has invested in Timeplast, a Florida-based startup that is researching solutions for one of the critical aspects of the global plastic waste challenge – plastic that isn't properly recycled and ends up in landfills, oceans and waterways. Timeplast is exploring a new technology that may help to minimize the impact of plastic that leaks into the environment.
(PRNewsfoto/Nestlé Waters North America)
"I knew a strategic partnership would be critical to further develop a solution that both addresses plastic pollution while maintaining compatibility with the existing recycling system," said Manuel Rendon, CEO at Timeplast. "With Nestlé Waters' packaging and recycling expertise, we are excited to continue testing the capabilities of a technology that we will work together to bring to market. This is a steppingstone of our company's big plan to a world where all plastics are transformed based on their expected use."
As part of the investment in Timeplast, NWNA will provide financing and additional support to evaluate the technology, combining NWNA's stringent safety, quality and performance standards for food-grade packaging with Timeplast's technology. The investment has created a limited liability company, TPN Alliance Polymers, LLC, which is based in Coral Gables, Florida.
"For more than five years, we've brought to market an increasing number of bottles made with other bottles and launched campaigns to inspire consumers to recycle their bottles helping to drive toward a circular economy," said David Tulauskas, Vice President and Chief Sustainability Officer at Nestlé Waters North America. "As we make progress toward a zero-waste future, we're enthusiastic to build on our work by exploring alternative technologies such as those presented by Timeplast."
The investment is part of NWNA's efforts to identify multiple and simultaneous sustainable packaging solutions that address plastic pollution across the globe. In September 2020, Poland Spring announced a collaboration with the University of Maine and its Forest Bioproducts Research Institute to evaluate and develop bio-based solutions that could serve as alternative packaging for Poland Spring products. As part of the collaboration, the University of Maine will explore new possible uses of materials derived from sustainably harvested Maine wood, an effort that has the potential to advance the circular economy by contributing to the total utilization of this renewable resource.
In addition to alternative packaging, as of June 2020, NWNA has doubled the amount of recycled PET plastic (rPET) used since 2019 across its U.S. domestic portfolio to 16.5%. In July, the company announced that three of its regional spring water brands have started to offer bottles made of 100% recycled plastic, joining Poland Spring® 100% Natural Spring Water in offering bottles made with 100% rPET. Now, five of NWNA's six regional spring water brands offer bottles made with recycled plastic, and four of these offer bottles made with 100% rPET. NWNA also offers three of the only major, nationally distributed bottled water offerings on the market made using 100% rPET – Nestlé® Pure Life® 700mL, Poland Spring® ORIGIN, Nestlé® Pure Life® "DC Collection." These steps are all helping NWNA reach its commitments to achieve 25% rPET across its U.S. domestic portfolio by 2021 and reach 50% by 2025.
About Nestlé Waters North America
Nestlé Waters North America offers an unrivaled portfolio of bottled water brands for healthy hydration, including Poland Spring® Brand 100% Natural Spring Water, Nestlé® Pure Life®, Perrier ® and S. Pellegrino®. The company also owns and operates ReadyRefresh®, a customizable water and beverage delivery service.
Based in Stamford, Connecticut with approximately 7,000 associates in the United States, we manage natural resources for long-term sustainability, and we conserve more than 18,000 acres of natural watershed area. We currently source water for our six regional spring water brands from 38 active springs throughout the United States. We are also committed to creating shared value and being a good neighbor in the more than 120 communities where we operate in the U.S. For more information, visit us at https://www.nestle-watersna.com/ and follow us on Twitter, Instagram and Facebook: @NestléWatersNA.
SOURCE Nestlé Waters North America