Investor interest in bioplastics following bag ban
A Melbourne bioplastics developer says it has seen strong investor interest in recent moves to stop the use of single-use plastic bags.
SECOS, an ASX-listed subsidiary of Cardia Bioplastics, has welcomed the recent plastic bag bans by Australian supermarkets as a producer of what it describes as compostable and Biohybrid plastic products.
“We welcome the recent decision by leading Australian grocery retailers Coles and Woolworths to stop supplying environmentally hazardous single-use bags to their shoppers by July of next year,” said SECOS Managing Director Stephen Walters.
“Moving away from single-use plastic bags will enhance retailers’ environmental and sustainability credentials. We see great scope for these and other retailers to continue along this path and meet customer demand for more environmentally friendly bags.”
“This change presents a significant opportunity for SECOS to help Coles, Woolworths and others toward this goal by offering bags made using our proprietary resin technology, including our compostable and Biohybrid product range,” he said.
When Coles and Woolworths announced they would stop providing single-use plastic bags, both stores assured customers they would provide a number of different alternatives at different price points to help customers transport their purchases.
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