Seymour, Indiana, Oct. 22, 2013 (GLOBE NEWSWIRE) -- Cereplast, Inc. (OTCQB: CERP) (the "Company"), a leading manufacturer of proprietary biobased, compostable and sustainable bioplastics, today is providing a shareholder update on the market development in North America. The Company is focused on driving North America sales and expanding its intellectual property portfolio to address the demands for technologically advanced bioplastic resins while securing the Company's competitive advantage. Key market segments include compostable bioplastics and biobased bioplastics.
There are approximately 30 projects underway in North America with a potential volume of $10 million annually. Consumer products include a line of baby bicycle seats manufactured by MammaCangura by Bellelli, which are made from Cereplast Biopropylene® 101, a biobased bioplastic. In addition, the Company is targeting regions in North America that have banned conventional plastics for single-use disposable items such as bags, carry-out containers and straws. Cereplast provides compostable bioplastic resin alternatives for these types of applications, and sees significant market potential.
The Cereplast intellectual property portfolio currently consists of more than 20 patents and patent applications in the USA and worldwide, giving the Company a competitive advantage today and well into the future. Recent developments by the Cereplast research and development team include the commercialization of Bio-polyolefins A645D, the first thermoplastic elastomer (TPE) and 45% algae biomass compound for sheet extrusion and thermoforming. This soft, pliable TPE compound boasts good ductility and low modulus for applications such as liners, outdoor flooring and roofing tar additives.
Mr. Frederic Scheer, Chairman and CEO of Cereplast stated, "We continue to push the boundaries of what is possible with bioplastic technology by introducing the first algae biomass-filled TPE resin, Bio-polyolefins A645D. We are committed to being on the forefront of algae bioplastics development, as we see tremendous demand and opportunity for this type of resin. As we expand our intellectual property portfolio, we provide our customers with an array of technologically advanced bioplastic resins, which gives us an edge in meeting market demands. This approach is key to fostering sales and growth in North America, a region that continues to be a focus for the Company. We see tremendous opportunity in North America and are committed to further developing sales on the continent."
About Cereplast, Inc.
Cereplast, Inc. (OTCQB:CERP) designs and manufactures proprietary biobased, sustainable bioplastics which are used as substitutes for traditional plastics in all major converting processes - such as injection molding, thermoforming, blow molding and extrusions - at a pricing structure that is competitive with traditional plastics. On the cutting-edge of biobased 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 biobased content and compostability are advantageous, especially in the food service industry. Cereplast Sustainables® resins combine high biobased 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. You may also visit the Cereplast social networking pages at Facebook.com/Cereplast, Twitter.com/Cereplast and Youtube.com/Cereplastinc.