Cereplast Cites Impact on Bioplastics Growth as European Commission Focuses on Bio-Based Initiatives
Recent European Bioplastics Report Addresses Climate Protection for Sustainable Economic Growth
EL SEGUNDO, Calif.--(BUSINESS WIRE)--Cereplast, Inc. (NASDAQ: CERP), a leading manufacturer of proprietary bio-based, sustainable plastics, today cited that the bioplastics industry in Europe could experience even stronger growth rates when economic and policy measures are put in place.
“Meeting Report of 15 July 2010, Brussels”
According to a report from the “European Bioplastics Association,” the European branch association representing industrial manufacturers, processors and users of bioplastics and biodegradable polymers (BDP) and their derivative products, that is titled “Meeting Report of 15 July 2010, Brussels,” the European Council, in consultation with the European Commission and the European Parliament, passed a new holistic strategic approach to guide EU politics in the coming decade: “Europe 2020 – A European Strategy for Smart, Sustainable and Inclusive Growth.” Under the roof of this initiative, the “bio-economy” concept is seen as a key element to reach the diverse political goals of EU policy makers: jobs, growth, climate protection, innovation, solution for finiteness of industrial raw materials and a sustainable agriculture policy.
On July 15, 2010, industry experts met in Brussels to discuss possible market developments for bio-based products with or without the implementation of political measures. The goal was to devise a common position towards the European Commission in setting ambitious but realistic indicative targets for the different bio-based product categories such as biolubricants and biopolymers. European Bioplastics contributed actively to the discussion with a letter to the Commission and developed a market forecast based on available market research and the expertise of its member companies for input into the “Europe 2020” strategy. European Bioplastics estimates the 2020 market potential for bioplastics will be a factor of 3 times greater if effective policy support measures are put in place. Specifically, European Bioplastics estimates 770,000 metric tons of bioplastics production without political support and 2,550,000 tons with supporting political measures. The latter would represent an increase in bioplastics market share from its current 0.5% to 5% within ten years.
“Countries in Europe are working to find a solution to sustainable development that makes sense not only on an economic level, but on a political and environmental level as well,” said Frederic Scheer, Founder, Chairman and CEO of Cereplast, Inc. “Currently, about 40% of our exports are to Europe, and there are numerous possibilities there as the European market is growing at a pace that is outpacing supply. This is due to stricter regulations, such as those that ban the use of traditional plastic bags, and increasing environmental concerns over the impact of oil-based plastics. Due to the limited amount of crude oil reserves in Europe, we believe the region is poised to become one of the most important markets as companies in many industries increase investment in bioplastics.”
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.
Contacts
Cereplast Investor Relations Contact:
IRTH Communications, LLC
Andrew W. Haag
+1-866-976-IRTH (4784)
cerp@irthcommunications.com
www.irthcommunications.com
or
Cereplast Media Contact:
Trontz Public Relations
Bari Trontz
212-293-9051
bari@trontzpr.com
or
Cereplast, Inc.
Nicole Cardi
Vice President of Communications
310-615-1900 EXT 154
ncardi@cereplast.com
www.cereplast.com
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