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Issue 05/2016

  • Text
  • Bioplastics
  • Biobased
  • Products
  • Materials
  • Fibres
  • Plastics
  • Packaging
  • Renewable
  • Properties
  • Applications
bioplasticsMAGAZINE_1605_

News daily upated news

News daily upated news at www.bioplasticsmagazine.com Building the Case for Bioplastics In late August SPI’s Bioplastics Division hosted its first inaugural Bioplastics Week – a social media-based event to increase visibility for bioplastics together with various other partnering organisations, among which European Bioplastics, Plastics Europe, USDA BioPreferred Program, Sustainable Packaging Coalition, and many more. The highlights of that week included workshops, Q&A blog posts, reports, infographics, press releases, and many many tweets and posts on social media channels. On August 25 SPI’s Bioplastics Division released their quarterly Plastics Market Watch report which is now also available for bioplastics. And none too soon: a survey commissioned by the SPI: The Plastics Industry Trade Association conducted on a nationwide scale in the USA revealed that there is widespread ignorance about bioplastics. SPI’s new report on bioplastics in its Plastics Market Watch series is part of the push to educate the public about these unfamiliar materials. In clear and accessible language, the publication presents the business and environmental benefits of bioplastics products and makes the case for their increased use. “In 2007, SPI formed our Bioplastics Division to promote education and outreach about bioplastics,” said SPI’s Patrick Krieger. “While growth continues in this sector of our industry, we recognize the challenges present in understanding the complex terminology and makeup of bioplastics products, and that is why we released this report.” As today’s consumers choose products with increasing environmental awareness, brands are responding to their customers’ preferences, and bioplastics are a material of choice for many brands that have yet to reach their full potential. According to the abovementioned SPI survey, in which 1,107 adults across the US took part, there is little familiarity with or understanding about bioplastics, signalling a clear need to build more awareness about bioplastics. Consider: • Only 27 % were somewhat or very familiar with bioplastics. • 34 % were not at all familiar with bioplastics. • After learning about bioplastics, 50 % of those surveyed indicated they would consider purchasing a product if it “was a little bit more expensive” because it was made with bioplastics. • More than half, 57 %, indicated they would probably or definitely be more likely to consider purchasing a plastic product with the U.S. Department of Agriculture’s Certified Biobased Product seal. Bioplastics, it would seem, have quite a ways to go yet, and events like this are important. After all, people don’t care about what they don’t know. So let’s keep on getting the information out there! KL To keep track of what’s going on: official hashtag: #BioplasticsWeek Twitter: @SPI_4_Plastics, @PlasticAdvocate Facebook: @SPIplasticsindustry LinkedIn: SPI: The Plastics Industry Trade Association Info Download the complete report from http://bit.ly/2cqcQ4Z Metabolix enters into USD 10 Million Binding LOI with CJ CheilJedang Biotechnology company Metabolix, Inc. recently announced that it has completed the sale of its biopolymer intellectual property and certain equipment and inventory to an affiliate of CJ CheilJedang Corporation (CJ) for a total purchase price of USD 10 million. The first USD 2 million of the purchase price was paid by CJ on execution of the binding letter of intent in August 2016, and the USD 8 million balance was paid on closing of the transaction. In connection with the asset sale, Metabolix also entered into a sublease with CJ covering approximately one-third of the Company’s Woburn, Massachusetts facility. “Completion of the transaction strengthens our balance sheet and provides resources to take Yield10 Bioscience forward as our core business,” said Joseph Shaulson, president and CEO of Metabolix. “Yield10 is developing breakthrough technologies to significantly increase the inherent yield of food and feed crops. As we move forward, the Yield10 team will be focused on advancing our technology platforms, generating proof points on our portfolio of novel yield traits and forming collaborations around key crops.” In July, Metabolix announced its new strategic direction and a related restructuring designed to bring staffing levels to approximately 20 people with an annual net cash burn rate in the range of USD 5 million once completed. The Company plans to provide an update on its Yield10 Bioscience business in the coming weeks (Global Newswire). MT www.metabolix.com 8 bioplastics MAGAZINE [05/16] Vol. 11

News bioplastics MAGAZINE [05/16] Vol. 11 9

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