For those who are not familiar with PET (polyethylene terephthalate) bottles, the resin is made from 30% MEG (monoethylene glycol) and 70% PTA (purified terephthalic acid) by weight. Coca-Cola's PlantBottle packaging is currently made with sugar-based MEG and petroleum-based PTA.
Coca-Cola's VP of Commercial Product Supply Rick Frazier noted that the company had looked at over 30 technology companies in the past two years for renewable-based alternatives to PTA and settled with the three chosen ones -- Gevo, Avantium and Virent. The three companies will work independently to develop their own bio-based alternatives to petroleum-based PTA but within the "guard rails" of Coca-Cola's sustainable packaging strategies and standards.
"We recognized we could gain speed in identifying the leading biotech companies with the biggest potential commercial solutions to develop 100% plant-based technology and accelerate these through funding versus trying to do it alone." - Frazier