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Nestlé Waters North America is investing in Timeplast, a startup investigating technology that minimizes the impact of improperly recycled plastic leaking toxins into the environment, according to a release. The amount of the investment was not disclosed.
The companies will create a new operation called TPN Alliance Polymers. Nestlé will provide financing and additional support to evaluate Timeplast’s technology. From this collaborative partnership, the two companies hope to bring a solution to market that “both addresses plastic pollution while maintaining compatibility with the existing recycling system.”
Nestlé Waters has committed to achieving 25% recycled PET plastic across its U.S. portfolio by next year and then increase that percentage to 50% by 2025. Sustainability has been a central focus at the Switzerland-based multinational that plans to spend up to 2 billion Swiss francs ($2.1 billion) to shift its packaging from virgin plastics to food-grade recycled plastics.
