Swiss food and drink conglomerate Nestlé (Vevey; www.nestle.com) has announced a USD 30m (EUR 25.4m) investment in the “Closed Loop Leadership Fund”, a private equity fund created to finance companies in the US aiming to increase recycling rates. “Nestlé’s investment is a significant commitment to help modernise, optimise and capitalise circular economy infrastructure in the US and harness innovative technologies to keep materials in manufacturing supply chains,” said Ron Green, CEO of Closed Loop Partners (New York / USA; www.closedloopfund.com). The investment firm is responsible for a USD 100m social-impact investment fund committed to leading the shift from virgin plastics to the use of food-grade recycled plastics in the US.

The investment is the first to utilise Nestlés’ packaging venture established earlier this year and provides the firm access to recycled plastics feedstock processed by companies in which the fund invests. The financing is also expected to secure greater volumes of food-grade recycled plastics for the company’s packaging. The investment is part of the company’s overall outlay of CHF 2 bn (EUR 1.8 bn) for the development of sustainable packaging systems (see Plasteurope.com of 22.01.2020).

Nestlé Waters North America (Stamford, Connecticut / USA; www.nestle-watersna.com) has announced that three more of its US domestic still-water brands have started to convert their packaging to 100% recycled plastics. Containers for its “Ozarka”, “Deer Park,” and “Zephyrhills” brands of 100% natural spring waters, which have long been completely recyclable, will now be both fully recyclable and made completely of rPET. The expansion of recycled PET to these brands reduces the need for new plastics and lowers the company’s carbon footprint while supporting 757,000 jobs in recycling and reuse activities in the US, said David Tulauskas, vice-president and chief sustainability officer at Nestlé Waters North America.