Petrochemical producer Indorama Ventures has joined forces with Suntory Holdings, Suntory PepsiCo Beverage (Thailand) and Iwatani to establish Flake-to-Preform (FtoP) direct recycling technology in Thailand.
The strategic partnership aims to enhance the company’s circular packaging capabilities in Thailand and provide a platform to explore future opportunities across Southeast Asia, the businesses said.
The patented FtoP technology will be delivered through Indovida (Thailand) Limited, a joint venture established by Indorama Ventures and Iwatani Corporation.
Developed by Suntory and three partner companies, including Japanese recycling firm Kyoei Industry Co, the technology enables PET preforms to be manufactured directly from rPET bottles.
It is expected to produce rPET preforms equivalent to approximately 400 million PET bottles annually.
First use of rPET preforms
From 2028, these will be supplied to Suntory PepsiCo Beverage Thailand, making it Indorama Ventures’ first commercial customer to use rPET preforms produced through the project, the company said.
“We see the introduction of this FtoP technology in Thailand as a significant step forward in expanding the adoption of sustainable PET bottles, a key target of the Suntory Group,” said Jun Asaki, chief sustainability officer of Suntory Holdings.
“Through collaboration with a wider range of partners, we aim to promote PET bottles as a sustainable packaging solution in Thailand and across Southeast Asia, contributing to the realisation of a circular society and environmental impact reduction.”
As part of the collaboration, Indorama Ventures will contribute expertise in rPET, integrated materials and packaging manufacturing.
Suntory will provide the FtoP recycling technology and technical knowledge developed in Japan, and Iwatani will support with industrial expertise and its longstanding partnership with Suntory, the companies said.
“We are delighted to begin this initiative with the Suntory Group to advance the commercialisation of FtoP technology in Thailand,” said Kenji Motoori, director of Iwatani Corporation.
‘A stable supply’
“Through our joint venture with Indorama Ventures, we will support this project by ensuring a stable supply of high-quality rPET preforms. We will continue to work closely with our partners to help realise a circular economy.”
Aloke Lohia, group chief executive of Indorama Ventures, added: “This collaboration reflects Indorama Ventures’ commitment to reimagining chemistry for a more circular future by advancing circular PET packaging in Thailand and beyond.
“By combining our integrated PET value chain with world-class recycling technology and strong industry partners, we are expanding our ability to deliver differentiated circular packaging solutions while reinforcing our downstream packaging platform.
This partnership reflects our IVL [Indorama Ventures Limited] 2.0 strategy of building market-leading businesses through focused partnerships, innovation and disciplined investment, creating lasting value for our customers, shareholders and other stakeholders.”
Indorama Ventures serves local and regional customers across Europe, Africa, the Americas, and Asia-Pacific. It has 24,500-strong workforce.
