Cereplast Announces Commercialization of Cereplast Algae Bioplastics(TM)
Cereplast, Inc. (OTCQB:CERP), a leading manufacturer of proprietary biobased, sustainable bioplastics, today announced the commercialization of Cereplast Algae Bioplastics™ with the introduction of Biopropylene® 109D.
Cereplast identified a post-industrial algae source that does not rely on the commercialization of biofuel production, allowing the company to commercialize Cereplast Algae Bioplastics sooner than anticipated. Additionally, the Cereplast Research and Development team has discovered a post-industrial process that significantly reduces the odor that is typically inherent to algae biomatter.
Biopropylene 109D is an injection molding grade manufactured with 20% post-industrial algae biomatter. The renewable resource content significantly reduces the carbon footprint of the final product while reducing the petroleum-based plastic content. The algae biomass used by Cereplast are byproducts from algae biofuels and nutritionals, resulting from industrial processing to extract specialty chemicals. Biopropylene 109D can be processed on existing conventional electric and hydraulic reciprocating screw injection molding machines, and is recommended for thin wall injection molding applications.
Chairman and CEO of Cereplast, Mr. Frederic Scheer, commented, "Since 2008 our team has developed and extensively tested algae-filled grades of bioplastics, and more recently has perfected this specific grade which is now ready for commercialization. We have several customers evaluating this technology and anticipate generating revenue from it during the first half of 2013. We strongly believe that our technology leads the algae bioplastic market and presents yet another revenue stream opportunity as we head into 2013."