The Coca-Cola Co. KO, -0.01% said Thursday it is extending a loan to Dutch recycling company Ioniqa Technologies to help it transform hard-to-recycle plastic waste into high-quality, food grade polyethylene terephthalate (PET), that can be used in bottles. Terms or the size of the deal were not disclosed, but it's part of the beverage giant's plan to move to packaging made of at least 50% recycled material by 2030. "The new technology supports the circular economy for plastics by allowing packages such as colored PET bottles that may have been excluded from certain recycling streams to be recycled into food-grade quality packaging," the company said in a statement. Ioniqa is a spinoff from the Eindhoven University of Technology (The Netherlands), that specializes in using its proprietary technology to work with plastics. Coca-Cola shares were slightly lower premarket, but have gained 7% in 2018, while the S&P 500 SPX, +0.21% and the Dow Jones Industrial Average DJIA, +0.10% , which counts Coke as a member, have fallen 0.8%.