CCEP Ventures (CCEPV), the innovation investment arm of Coca-Cola Europacific Partners, has formed two new partnerships with European research groups to accelerate its research into carbon capture technology.
The research groups are located at Universitat Rovira i Virgili (URV) in Tarragona, Spain, and the University of Twente (UT) in the Netherlands,
The two universities will receive investment from CCEPV to accelerate their research into turning harmful CO₂ emissions into useful products for the supply chain.
This is CCEPV’s third collaboration with scientific institutions for research into sustainable technology solutions.
Carbon capture works by capturing the CO₂ that is present in an emission source or even in the atmosphere and then using it in the production of other goods like fuel, ingredients, and packaging – the latter of which can then also be recycled.
CCEPV says these partnerships are part of the organisation’s efforts to find, fund and foster transformative solutions that can support CCEP in reaching its net zero 2040 ambition.
In 2020, CCEPV announced funding for CuRe Technology, a recycling start-up that seeks to provide a new lease of life for difficult-to-recycle plastic polyester waste.
In 2022, it announced a partnership with the Peidong Yang Research Group at the University of California Berkeley to develop scalable methods of converting CO₂ into sugar.
Further Partnership Opportunities
The organisation says it will actively seek further partnership opportunities that bring it closer to achieving a 30% reduction in absolute GHG emissions across CCEP’s value chain by 2030.
"We are challenging ourselves to think differently about CO₂, which is so often only seen as a dangerous waste product," said Craig Twyford, head of CCEPV. "Funding these projects is an exciting opportunity for us to be at the forefront of scientific discovery and innovation.
"We think it has the potential not only to significantly impact our operations, but it could also be rolled out across different industries to reduce GHG emissions and make better use of the carbon in our atmosphere.”
© 2023 European Supermarket Magazine – your source for the latest supply chain news. Article by Robert McHugh. Click subscribe to sign up to ESM: European Supermarket Magazine.