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Nestlé To Invest Millions In Transition From Use Of Virgin Plastics

September 8, 2020: 12:00 AM EST

The company plans to invest $30 million in the Closed Loop Leadership Fund, a private equity fund of Closed Loop Partners, to help support the shift from virgin plastics to food-grade recycled plastics across the U.S. The goal is to upgrade U.S. recycling infrastructure and secure access to food-grade recycled plastics. It is the first investment from Nestlé’s sustainable packaging venture fund, which was established earlier this year as part of its CHF 2 billion ($2.2 billion) sustainability commitment. The company plans to make 100 percent of its packaging recyclable or reusable by 2025, and reduce its use of virgin plastics by one third. Closed Loop will use the money to finance acquisitions of companies advancing circular economies in the U.S.[Image Credit: © Nestlé]
Emma Upshall, "Nestlé invests $30m in U.S. recycling initiative Closed Loop", FoodBev Media , September 08, 2020, © FoodBev Media Ltd
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