PLANTIC TECHNOLOGIES LIMITED
AIM-listed Bioplastics Technology Company
Plantic Technologies Limited ( Plantic or the Company ), an Australian based biodegradable materials technology company which has developed an environmentally friendly alternative to synthetic plastics from renewable resources listed on the AIM market of the London Stock Exchange on 23 May 2007. The Company raised £20 million.
The funds are being used for research and development, new product commercialisation, manufacturing and ongoing capital expenditure. Nomura Code Securities Limited is acting as nominated adviser and broker to the Company.
Technology
Plantics technology delivers a fully biodegradable, water soluble, organic alternative to synthetic plastics.
The raw material is based on non-genetically modified high-amylose corn starch which enables it to be formed into plastic. The material can be converted into objects such as packaging and rigid plastics on industry standard equipment. Plantic® is officially certified Home Compostable, Biodegradable and safe for disposal in waste water in Europe, which has some of the strictest environmental standards in the world.
The Company was founded in 2001 and is based in Melbourne. It is a recognised innovator in bio-polymers (biodegradable plastics made from renewable resources), with a track record of science and industry awards. Plantic has several patent families covering its technologies, formulations and applications.
Strategy
The Company's objective is to commercialise its starch-based plastic technologies across a broad range of applications with a particular focus on the packaging industry, especially for food and beverages. Plantic has developed a pipeline of applications in partnership with leading companies in the packaging industry and consumer goods manufacturers, which are in the early stages of commercialisation. The materials developed, manufactured and sold by Plantic are either in a sheet or resin granule form depending on the specific application.
The Company's first product, the Plantic tray, is sold commercially to such customers as Cadbury Schweppes, Nestle and Lindt & Sprungli.
Plantic is also selling resins to leading materials companies for distribution and/or conversion into specific geographical territories.
It is developing a drop-in replacement for synthetic plastics giving manufacturers and consumers access to bio-responsible material while maintaining quality, form and function.
Plantic-based products also offer a range of immediate performance benefits. The product has anti-static properties and provides an excellent gas and odour barrier to extend the shelf-life of packaged products. In addition, because the raw material is non-toxic, non-flammable and natural, its handling, transportation and processing are considerably safer and more environmentally friendly than materials used to make petrochemical-based plastics.
The Directors believe that Plantic is well positioned to benefit from the increased focus on the environment by many companies and consumers by presenting a clean and commercial alternative to synthetic non-biodegradable plastics.
Energy and cost efficient
The price of Plantic® material can vary depending on the specific formulation and application, but is comparable with that of synthetic plastics.
However, testing on the Plantic® tray has shown that the total amount of energy consumed during the life cycle of this product (from manufacture to decomposition) is approximately half that of plastics derived from non-biodegradable petrochemicals.
Management
Plantic currently has 50 employees, mainly in Australia, overseen by an experienced management team with the requisite experience in running high growth, global technology companies.
Commenting, Brendan Morris, Chief Executive of Plantic said:
"Plantic brings to the market a packaging material that begins in the ground, costs less to produce in terms of both money and energy and leaves no residue once it returns to nature. This could be a catalyst not only for the packaging industry but for a whole range of potential applications in other sectors as well."
Enquiries:
Plantic Technologies Ltd Tel: +61 (0)3 9353 7983 (Melbourne)
Brendan Morris, Chief Executive
Pelham Public Relations
Archie Berens
Tel: +44 (0)20 7743 6679
Kate Catchpole
Tel: +44 (0)20 7743 6674
Candice Sgroi
Tel: +44 (0)20 7743 6376
Nomura Code Securities Limited
Juliet Thompson
Tel: +44 (0)20 7776 1204
