Cereplast Inks Deal to Supply Biodegradable Resins for Eko BIO Pen
Date : 07/07/2010 @ 9:00AM
Source : Business Wire
Stock : Cereplast, Inc. (CERP)
Quote : 3.14 0.0 (0.00%) @ 9:17AM
Cereplast Inks Deal to Supply Biodegradable Resins for Eko BIO Pen
Cereplast (MM) (NASDAQ:CERP)
Intraday Stock Chart
Today : Wednesday 7 July 2010
Cereplast, Inc. (NASDAQ: CERP) (“Cereplast” or the “Company”), a leading manufacturer of proprietary bio-based, sustainable plastics, announced that it has inked a production contract with Brazil-based S.R. Promocionais, Ltda, to introduce Eko BIO, a compostable, biodegradable pen.
The Eko BIO pen’s structural components are produced using Cereplast’s Compostable 1001 injection molding grade resin. Cereplast Compostables® resins are sound substitutes for traditional petroleum-based plastic products. These revolutionary resins are made from Ingeo® PLA, corn, wheat, tapioca and potato starches and are both renewable and ecological. Because the Cereplast Compostables® resins are bio-based, the Eko BIO Pen is the first pen made in Brazil where the components are compostable and biodegradable.
"Since 2009, we have been searching for the right compostable, biodegradable plastic resin that would create products that wouldn’t have a negative impact on the environment and found the perfect fit from Cereplast,” said Arnaldo Di Giuseppe, CEO of S.R. Promocionais. “We look forward to educating the world about bioplastic options and creating more biodegradable products in the future with Cereplast resins.”
“Disposable pens are an excellent application for our sustainable and compostable plastics,” said Cereplast Founder, Chairman and CEO Frederic Scheer. “It is estimated that the 10 billion ink pens thrown away each year will take up to 400 years to break down in a landfill. The Cereplast solution provided in the Eko BIO pen creates a sustainable solution with lower greenhouse emissions than traditional plastics.”
Mr. Scheer added: “We are thrilled to be working with S.R. Promocionais and admire the company’s commitment to helping decrease the amount of petroleum-based plastics clogging up our world’s landfills while also introducing greener options that are functional and eco-friendly.”
Cereplast, Inc. is actively producing bioplastic resins for use in products ranging from tableware and cutlery to toys and healthcare/hygiene products, bottles/containers, bags, packaging, gift cards, printed displays, straws, pipes, conduits, and many other applications. This year, Cereplast is on track to ship 16 million pounds of bio-plastic resins to customers around the world, an increase of 400% from last year, in response to surging consumer and industrial demand for economically and ecologically sound, “green” products.
Consistent with the product value proposition, Cereplast strives to maintain a paperless environment. Information on the new Cereplast Compostables® resin series can be found on www.cereplast.com and includes data sheets, comprehensive processing guides and product MSDS. Information on the Eko BIO, a compostable biodegradable pen can be found at www.srpromocionais.com.br/empresa/sustentabilidade.html.
About Cereplast, Inc.
Cereplast, Inc. (NASDAQ:CERP) designs and manufactures proprietary bio-based, sustainable plastics which are used as substitutes for petroleum-based plastics in all major converting processes - such as injection molding, thermoforming, blow molding and extrusions - at a pricing structure that is competitive with petroleum-based plastics. On the cutting-edge of bio-based plastic material development, Cereplast now offers resins to meet a variety of customer demands. Cereplast Compostables® Resins are ideally suited for single use applications where high bio-based content and compostability are advantageous, especially in the food service industry. Cereplast Hybrid Resins® combine high bio-based content with the durability and endurance of traditional plastic, making them ideal for applications in industries such as automotive, consumer electronics and packaging. Learn more at www.cereplast.com.
Safe Harbor Statement
Matters discussed in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with: the impact of economic, competitive and other factors affecting the Company and its operations, markets, product, and distributor performance, the impact on the national and local economies resulting from terrorist actions, and U.S. actions subsequently; and other factors detailed in reports filed by the Company.
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