Cereplast Chairman and CEO, Mr. Frederic Scheer, stated, "This patent is one of many steps on our journey of developing this new category of plastic. We see a significant future ahead for the estimated over $100 billion algae biofuels and bioplastics industry, and we are firmly committed to protecting the intellectual property of the Company as we further our work. Considering there is a lack of algae bioplastic patents today, we strongly believe that our experience and research and development capability has allowed us to foresee the future of renewable plastics and carry out this valuable technology. We also believe that our vision is starting to take shape with algae being on the verge of large commercial production for biofuels and bioplastic applications. Large companies in the airline industry and others are following the progress of numerous companies ready to commercially offer algae as a viable alternative to petroleum, both for fuel and chemicals. Algaeplast wants to be at the forefront of this new fuel and chemical revolution."
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