Coca-Cola announces new funding for carbon capture research
CCEP Ventures (CCEPV) has formed two new partnerships with European research groups at Universitat Rovira i Virgili (URV) in Tarragona, Spain and the University of Twente (UT) in the Netherlands, to accelerate their research into carbon capture technology.
Through these R&D projects, CCEPV will explore how captured CO₂ can be turned into useful products for the supply chain like packaging materials and sugar, used to carbonate CCEP’s soft drinks, or to create synthetic fuels to power its factories. The research aims to develop new technology that can be used on-site and is the latest in a series of partnerships from CCEPV to support a more sustainable future.
Reflecting on the partnership Craig Twyford, Head of CCEPV, said: "We are challenging ourselves to think differently about CO₂, which is so often only seen as a dangerous waste product. What if we could not only take CO₂ out of the atmosphere, where we know it’s causing harm but also turn it into something useful? Then we could start thinking of it as a valuable resource.
"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.”
What is carbon capture?
Carbon capture is a means of achieving reduced carbon emissions and is an important method of tackling climate change. It 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, thus contributing to a truly sustainable, circular future.
These partnerships are part of CCEPV’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, and in 2022 announced a partnership with the Peidong Yang Research Group at the University of California Berkeley to develop scalable methods of converting CO₂ into sugar.
Representatives from the Universitat Rovira i Virgili Dr. Fèlix Llovell and Dr. Alberto Puga said:“We are delighted to be working with CCEP Ventures and to play a role in reducing the environmental impacts of manufacturing through emerging technology. Our partnership with CCEPV will accelerate the development of important technical solutions to capture carbon from the air and generate usable materials from CO₂."
CCEPV continues to actively seek further partnership opportunities that bring it closer to achieving a 30% reduction of absolute GHG emissions across CCEP’s value chain by 2030.
Representatives from the University of Twente Prof. Dr. Ir. Gerrit Brem and Dr. Abhishek Singh said:“As the need to improve the health of the environment and our planet becomes more pronounced, it is vitally important that businesses globally take a proactive approach to developing and funding new-age solutions to the climate problem. We’re greatly encouraged by CCEPV’s action in this space and are pleased to be working with them to realise their vision.”
