Nestlé is spending billions to create a market for recycled plastics

London (CNN Business)Food companies trying to reduce their consumption of plastic have a big problem — it's hard to find suitable recycled material. Nestlé says it's willing to spend more than $2 billion to try and fix that. The world's biggest food company said in a statement Thursday that it would cut costs in other parts of its business to free up more than 1.5 billion Swiss francs ($1.6 billion) to buy 2 million metric tons of recycled plastic between now and 2025. Nestlé said it would be paying above the market rate for the recycled material, part of its strategy to alleviate a shortage of used plastics suitable for food packaging by luring new suppliers into the business. Doing so shou

Loliware's algae-based plastic alternatives get $ 6 million seeds from environmentally aware inv

In recent years, many cities have banned plastic bags, plastic straws and other common forms of waste, giving ecological alternatives a big boost, including Loliware, a provider of fine disposable products created from seaweed. High demand and smart sourcing have attracted a great first round of financing. I covered Loliware from the beginning when it was one of the first companies to invest in Ocean Solutions Accelerator, a program initiated in 2017 by the nonprofit organization Sustainable Ocean Alliance. Founder Chelsea "Sea" Briganti told me about the new funds for SOA's strange but successful "Accelerator at Sea" program at the end of last year. The company mainly produces straws, with

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