- CCEP Ventures (CCEPV), the innovation investment arm of Coca-Cola Europacific Partners, announces new funding for carbon capture research projects
- Universities in Spain and the Netherlands will receive investment from CCEPV to accelerate their research into carbon capture and 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
CCEP Ventures (CCEPV) today announces 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.”
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.”
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Notes for editors
About Coca-Cola Europacific Partners
Coca-Cola Europacific Partners is one of the leading consumer goods companies in the world. We make, move and sell some the world’s most loved brands – serving 600 million consumers and helping 1.75 million customers across 29 countries grow their business.
We combine the strength and scale of a large, multi-national business with an expert, local knowledge of the customers we serve and communities we support.
The Company is currently listed on Euronext Amsterdam, the NASDAQ Global Select Market, London Stock Exchange and on the Spanish Stock Exchanges, trading under the symbol CCEP.
For more information about CCEP, please visit www.cocacolaep.com & follow CCEP on Twitter at @CocaColaEP.
About CCEP Ventures
CCEP Ventures (CCEPV) is Coca-Cola Europacific Partners’ (CCEP’s) innovation investment engine, that helps to find, fund and foster transformative solutions to support CCEP’s net zero 2040 ambition. CCEPV works with partners and innovators through investment, academic funding and commercial relationships to meet waste and emissions reduction challenges and help deliver a low carbon future.
About the Universitat Rovira i Virgili (URV)
URV is one of the top public universities in Catalonia, Spain. Established in 1991, URV places a special emphasis on research and plays a leading role in regional development, focusing on areas such as chemistry, energy, and nutrition and health. The Chemical Engineering research team has a breadth of knowledge in the production of innovative solvent-based materials for a range of uses, including carbon capture as well as energy storage or biomass valorisation.
About the University of Twente (UT)
The University of Twente is an entrepreneurial research university with a strong focus on energy-related research, combining scientific excellence with an appreciation for economic and societal impact. The Thermal Engineering group at UT has been at the forefront of carbon capture technologies, developing, for example, a novel CO2 sorbent that is highly active, stable and cheap with a low desorption temperature for CO2 capture from the air.