Indorama Ventures is entering a strategic partnership with Suntory Holdings, Suntory PepsiCo Beverage, and Iwatani Corporation to recycle PET bottles into preforms at commercial scale in Thailand.
The partners plan to introduce Suntory’s Flake-to-Preform Direct Recycling Technology (FtoP) through Indovida – a packaging business segment and joint venture founded by Indorama Ventures and Iwatani Corporation.
The patented recycling technology was jointly developed alongside three partner companies, including recycling firm Kyoei Industry Co. It manufactures PET preforms using recycled PET bottles to improve recycling efficiency and reduce environmental impact.
From 2028, Suntory PepsiCo Beverage will be the first commercial customer to use the preforms. Iwatani will also contribute its industrial expertise and long-standing partnership with Suntory.
This marks the first time the Flake-to-Preform Direct Recycling Technology has reached commercial deployment in Southeast Asia. Together, the partners expect to produce recycled PET preforms equivalent to approximately 400 million PET bottles every year.
They also underline their commitment to increasing the use of recycled PET, improving resource efficiency, and pursuing a circular economy while reducing dependence on fossil-based materials.
“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,” commented 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 realization of a circular society and environmental impact reduction.”
Kenji Motoori, director of Iwatani Corporation, continued: “We are delighted to begin this initiative with the Suntory Group to advance the commercialization of FtoP technology in Thailand.
“Through our joint venture with Indorama Ventures, we will support this project by ensuring a stable supply of high-quality recycled PET preforms. We will continue to work closely with our partners to help realize a circular economy.”
“This collaboration reflects Indorama Ventures’ commitment to reimagining chemistry for a more circular future by advancing circular PET packaging in Thailand and beyond,” added Aloke Lohia, group CEO of Indorama Ventures.
“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 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.”
Indovida is also set to help Indorama Ventures boost its circular packaging capabilities in Thailand while exploring future opportunities across Southeast Asia.
The news comes after Indorama Ventures announced its new Zero Waste to Landfill initiative at its recycling site, PETValue Philippines. This is expected to maximize resource efficiency and reduce waste for its IndoNova business, which recycles post-consumer PET bottles into high-quality food-grade recycled PET.
Earlier this year, the company worked with Nigerian Breweries and Genesis Energy to establish ‘one of Africa’s largest’ recycled PET production facilities in Lagos, Nigeria – expecting to produce up to 45,000 tonnes of food‑grade rPET resin annually.
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