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Pulpex Announces Collaboration With BASF

- Pulpex is the world's first widely recyclable, PET-free paper bottle

- BASF, the world's largest supplier of sustainable chemistry, collaborates with Pulpex to help scale paper bottling technology

- The eco-friendly paper bottle is designed to hold a wide range of liquids

LONDON, June 23, 2021 /PRNewswire/ -- BASF, the world's leading supplier of innovative materials for the packaging industry, has forged a collaboration with Pulpex Ltd and its global partners to develop proprietary, food-grade barrier technologies for the eco-friendly Pulpex paper bottle.

Pulpex Ltd. (www.pulpex.com) is a new world-leading sustainable packaging technology company established by venture management firm Pilot Lite and spirits producer Diageo. The company has developed the world's first 100% PET-free paper bottle. Made from sustainably sourced pulp, Pulpex bottles meet food safety standards and can be recycled in standard paper waste streams, which have a far higher yield than plastic waste streams.

Scott Winston, CEO, Pulpex, said: "We're proud to be working alongside a world-leading, innovative company like BASF. Their strategic intent and track record of advancing chemical sciences to deliver a more sustainable future makes the company an ideal partner for Pulpex."

BASF has a long tradition as a supplier of innovative solutions for the packaging industry and has an expert network of highly experienced technicians that support customers in product development and process optimization.

Victoria Callaghan, Packaging Project Manager at BASF plc, said: "We are helping to drive positive innovation in the packaging industry and are determined to help deliver sustainable packaging materials where we can, while ensuring the quality, safety and efficacy of our products. It's great to be working with Pulpex to continue developing its paper bottling technology for the world."

The wide range of applications for the Pulpex technology include alcohol and non-alcohol beverages, liquid foods, homecare, personal care and consumer healthcare. The company is also working toward adding the capability of holding hot-fill and carbonated products by the end of 2022.

About BASF

At BASF, we create chemistry for a sustainable future. We combine economic success with environmental protection and social responsibility. More than 110,000 employees in the BASF Group contribute to the success of our customers in nearly all sectors and almost every country in the world. Our portfolio is organized into six segments: Chemicals, Materials, Industrial Solutions, Surface Technologies, Nutrition & Care and Agricultural Solutions. BASF generated sales of ?59 billion in 2020. BASF shares are traded on the stock exchange in Frankfurt (BAS) and as American Depositary Receipts (BASFY) in the U.S.

Further information at www.basf.com.

About Pulpex

Pulpex is a collaboration between Pilot Lite and Diageo. Pilot Lite is a pioneer and international leader in venture management with a successful track record helping Fortune 500/FTSE 100 corporates accelerate the commercialization of innovation. Through its Pilot Lite Capital arm, Pilot Lite directly invests in and converts corporate IP into free-standing, revenue-generating businesses. Diageo is a global leader in beverage alcohol with an outstanding collection of brands sold in more than 180 countries around the world. The company is listed on both the London Stock Exchange (DGE) and the New York Stock Exchange (DEO).

Further information at www.pulpex.com.

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