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Press Release - Cereplast, Inc. (CERP-OTC: BB)
“Cereplast has been successful in two activities: The first activity is clearly design and development of resin and we have been very good at designing and developing resin. Over the past seven years, basically what we have done is created a very strong portfolio of patents. We have about 48 patents that we have developed in-house or in conjunction with universities that we are working with. ” - Frederic Scheer (Interview published July 3, 2009)
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Cereplast Receives Funding from European Group Led by Major Swedish Bank
HAWTHORNE, Calif., Jul 20, 2009 (BUSINESS WIRE) --
Cereplast, Inc. (OTCBB: CERP), developer of proprietary bio-based sustainable plastics, today announced that the company has received funding from a European group of investors led by a major Swedish bank. The funds will be used to implement Cereplast's new strategic plan to accelerate growth and to finance manufacturing supply agreements for the company's major customers such as Georgia-Pacific and Dorel.
"The additional capital allows us to move forward aggressively in a very challenging economic environment," said Frederic Scheer, Chairman and CEO of Cereplast. "This investor group clearly understands the rapidly growing market opportunity for bio-plastics and has endorsed our business model that leverages our proprietary product development capabilities and marketing strengths."
Others in the financial community have also commented favorably about Cereplast's new strategic plan. "The new licensing structure has the potential to help Cereplast land contracts with large packaging companies, which require large quantities of resin in a short time," said Rene Nicolodi, senior sustainability analyst at Zuercher Kantonalbank (Zurich Cantonal Bank), which began looking at Cereplast in 2007 as a potential investment from a sustainability perspective.
"It's quite important to note that their business plan or
model until very recently was to ramp up their own
production facilities for a variety of products, and that's
capital intensive, so it's a challenging thing to achieve,"
Nicolodi said. "The change in the
About Cereplast, Inc.
Cereplast, Inc. (OTCBB:CERP) designs and develops
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(R) 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(R) 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
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.
SOURCE: Cereplast, Inc.
For Cereplast, Inc. Frederic Scheer 310-676-5000 firstname.lastname@example.orgCopyright Business Wire 2009
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