Bioplastic producer Cereplast received five purchase orders totaling $450,000 from an existing customer in India for Cereplast Compostables® blown film resins. Each purchase order totals $90,000 and will be delivered throughout the remainder of 2013.
The bioplastic resins will be used for the manufacturing of single-use disposable bags for distribution in the Sri Lankan and Middle Eastern markets.
In July, Cereplast received multiple purchase orders for its Cereplast Compostables® blown film resins totaling approximately $200,000 in sales. The resins will be used for the manufacture of single-use plastic bags to supply about 45 supermarkets located in the Veneto and Trentino Regions in Italy. The resin was produced at Cereplast’s manufacturing facility in Seymour, Indiana.
According to the company’s recent earnings report, Cereplast’s revenue for the first 6 months of 2013 experienced major growth compared to 2012, with the expected number to top $1.7m compared to $0.2m in the year-ago 2012 period, reflecting a nearly 800% increase. Revenue for the entire 2012 was around $894,000.
The revenue growth was fueled by the passing of Italian legislation that will require merchants to replace traditional single-use plastic bags with bioplastic and other alternatives, according to Cereplast.
Cereplast also launched this year two new resins including its Biopropylene A150D, an injection molding grade manufactured with 51% post-industrial algae biomass, and Compostable 2020D, an extrusion blow-molding resin.
Last month, Cereplast said their Biopropylene 101 is now being used in the manufacture of child bicycle carriers and trailers in North America by an Italian company called MammaCangura by Bellelli. The Cereplast Biopropylene reportedly offers lower carbon footprint of about 32% compared to conventional PP.