30% of $100 Billion, March 25, 2013, from GEVOs website
Gevo is working with Coca-Cola to enable and deliver an integrated system to produce renewable paraxylene, a key building block in reaching Coca-Cola’s vision of creating all of their packaging from renewable materials. The work is designed to take the technology from lab to commercial scale and support Coca-Cola’s efforts to lead the beverage industry away from fossil-fuel-based packaging by offering an alternative made completely from renewable resources. Coca-Cola identified Gevo as a leader in the race to commercialize renewable PET following an exhaustive search and evaluation of technologies from around the world. The global market for PET is approximately 50 million metric tons and has a value of $100 billion, with approximately 30 percent used for plastic bottles. In this next generation of PlantBottle™ packaging, Coca-Cola plans to produce plastic beverage bottles made entirely from renewable raw materials.
“New technologies need champions,” says Patrick Gruber, Ph.D, CEO of Gevo. “The Coca-Cola Company is in a unique position to drive and influence change in the global packaging supply chain. You cannot ask for a better champion than one of the world’s most respected and admired consumer brands.”