Hillenbrand, Net Impact, and The Coca-Cola Company Announce Finalists of the 2024 Circular Plastics Challenge

• Global challenge invites students and professionals to generate industry-shifting ideas for the plastics value chain.
• Finalists to present solutions at virtual showcase broadcast at NPE2024, the largest plastics trade show in the Americas.

BATESVILLE, Ind., EL CERRITO, Calif., and ATLANTA – April 24, 2024 – Hillenbrand, Inc. (NYSE: HI), Net Impact, and The Coca-Cola Company (NYSE: KO) have selected and announce five finalists for the 2024 Circular Plastics Challenge, established to promote sustainability within the plastics value chain and encourage ideas from next-generation innovators on ways to help keep plastics in the economy and out of the environment.

Participants were tasked with designing forward-thinking solutions to increase the supply of rPET, or recycled polyethylene terephthalate. PET, or polyethylene terephthalate, is a versatile material used for the packaging of food, beverages, cosmetics, and household products. Focusing on turning PET into rPET helps create a more circular economy by using plastic that has already been produced and helps solve the current supply challenges with rPET as it is not keeping pace with demand due to low recycling rates.

The second-annual global challenge generated 65 applications from 18 countries. The top five teams shared highly innovative solutions.

The 2024 Circular Plastics Challenge finalists include:

Project ReVend | led by Addison Vaughn and Anastasia Chalmers, University of South Carolina undergraduates | Columbia, S.C., US - Project ReVend aims to boost recycling rates by alleviating sortation challenges with a subliminal label design. It also seeks to incentivize consumers to recycle through strategically located reverse vending machines that are integrated with the user's preferred payment account. With the solution implemented at a U.S.-based university with an undergraduate student population of 35,000, a 10% adoption rate is projected to lead to 210,000 collected bottles per year.

rMarket | led by Carissa Tasto and Jennifer Larkin, MBA graduates from Presidio Graduate School | San Anselmo, Calif., US - rMarket is a full-service platform offering any retail chain the option of becoming a certified recycling center under the rMarket program while supporting logistics for reclaimers, processors, and copackers manufacturing rPET. The goal of rMarket is to provide the equipment, marketplace, and industry expertise to transform a retail store into a centralized collection point for communities underserved by municipal recycling programs. At scale, it has the potential to provide enough material for 2,652,864 soda bottles made with 30% rPET.

EcoTrace | led by Professionals Aadhithya Sujith and Somya Singh | Kannur, Kerala & Nagpur, Maharashtra, India - EcoTrace uses florescent-based markers in PET plastic manufacturing coupled with Tracer-Based Sorting (TBS) technology to improve the material's recyclability and downstream applications. The zero-waste process is designed to minimize tonnage loss, conserving valuable resources and reducing the carbon footprint associated with plastic production and recycling. With an estimated 1 billion pounds of rPET recovery facilitated by TBS, the potential for mitigating plastic waste is substantial.

Strong Bottle | led by Terra Miller-Cassman and Taylor Fackrell, Boise State University graduate students | Boise, Idaho, US - Single-use water bottles are made of rPET, yet most PET bottles are landfilled because they are mistaken for paper during the recycling process when the rPET bottle gets flattened by the pressurized air-sorting technology common in materials recovery facilities. Strong Bottle proposes a new disposable water bottle shape to prevent flattening during the recycling process that could result in a 15% increase in the PET collected during the recycling process.

BottleBot | led by Nicole Restani Kolbeck and Sebastian Weeks, Bard’s Graduate Program & professional Nate Kolbeck | Red Hook, N.Y., US - BottleBot is a deposit return scheme that collects PET bottles and distributes rewards for consumers through an interactive reverse vending machine co-sponsored by large brands with established recycled content goals. It incorporates AI scanning that reduces contamination and blockchain technology that allows retailers to track and manage PET supply throughout the plastics value chain. This solution is estimated to increase the supply of rPET by 10,000 lbs. per store, per year within the first year.

Each team will present their ideas during a virtual showcase May 8 during NPE2024, which is produced by the Plastics Industry Association (PLASTICS) and draws more than 55,000 attendees from over 110 countries representing a variety of industries, including automotive, healthcare, consumer products, and construction. The judging panel, which includes leaders from Hillenbrand, Coca-Cola, and The Recycling Partnership, will determine the winners during the show. The first-place team will be awarded $10,000, with $2,500 and $1,000 going to the second- and third-place teams, respectively.

“The plastics industry is constantly innovating to improve the sustainability and recyclability of our products, and this program is a perfect representation of that,” said Patrick Krieger, PLASTICS Vice President of Sustainability. “I congratulate these five finalists for their innovative solutions and look forward to watching them present their ideas at NPE in Orlando, Florida.”

In 2022, Hillenbrand joined forces with Net Impact, a global nonprofit organization that mobilizes next-generation leaders to use their skills and careers to make a positive impact on the world. With a shared goal to find ways to build a more just and sustainable world, Hillenbrand and Net Impact launched the inaugural Circular Plastics Challenge in 2023 with additional support from The Coca-Cola Company. Hillenbrand and Coca-Cola guide the topic of the competition, and Net Impact facilitates the competition by bringing together its global network of social impact and sustainability leaders to address the challenge.

"This program continues to strike a chord among our community of emerging business leaders,” said Karen Johns, CEO of Net Impact. “It allows them to grapple with a real-world corporate sustainability problem and put what they're learning in the classroom to the test. Our partnership with Hillenbrand and The Coca-Cola Company serves as a model for how businesses and nonprofits can partner together to activate emerging leaders, engage the next generation, and provide robust experiential education opportunities for a diverse future workforce."

For more information regarding the finalists’ virtual showcases, visit https://npe.org/.

About Hillenbrand

Hillenbrand (NYSE: HI) is a global industrial company that provides highly-engineered, mission-critical processing equipment and solutions to customers in over 100 countries around the world. Our portfolio is composed of leading industrial brands that serve large, attractive end markets, including durable plastics, food, and recycling. Guided by our Purpose — Shape What Matters For Tomorrow™ — we pursue excellence, collaboration, and innovation to consistently shape solutions that best serve our associates, customers, communities, and other stakeholders. To learn more, visit www.Hillenbrand.com.

About Net Impact

Over 30 years Net Impact has built a diverse community in 40+ countries committed to using business to advance social and environmental action. Net Impact mobilizes its global community of more than 100,000 emergent change agents to leverage their careers to drive transformational environmental and social change. Through a strategic set of initiatives aimed to engage and benefit its core stakeholders, Net Impact is committed to advancing climate action and building the capacity of the next generation of workforce members. Visit www.netimpact.org.

About The Coca-Cola Company

The Coca-Cola Company (NYSE: KO) is a total beverage company with products sold in more than 200 countries and territories. Our company's purpose is to refresh the world and make a difference. We sell multiple billion-dollar brands across several beverage categories worldwide. Our portfolio of sparkling soft drink brands includes Coca-Cola, Sprite and Fanta. Our water, sports, coffee and tea brands include Dasani, smartwater, vitaminwater, Topo Chico, BODYARMOR, Powerade, Costa, Georgia, Gold Peak and Ayataka. Our juice, value-added dairy and plant-based beverage brands include Minute Maid, Simply, innocent, Del Valle, fairlife and AdeS. We're constantly transforming our portfolio, from reducing sugar in our drinks to bringing innovative new products to market. We seek to positively impact people's lives, communities and the planet through water replenishment, packaging recycling, sustainable sourcing practices and carbon emissions reductions across our value chain. Together with our bottling partners, we employ more than 700,000 people, helping bring economic opportunity to local communities worldwide. Learn more at www.coca-colacompany.com and follow us on Instagram, Facebook, and LinkedIn.