May 31 2013
Cereplast, Inc. (the "Company"), a leading manufacturer of proprietary biobased, compostable and sustainable bioplastics, today announced that the Cereplast Compostable blown film series has received both DIN CERTCO and Vinçotte certifications for meeting EN 13432, the European standard for industrial compostability.
Compostable 3002, 3010, 3015 and 3020 are Cereplast Compostables® blown film grades, which are used for the manufacture of single-use grocery bags and trash bags. These grades also meet the ASTM D 6400 standard in the United States, and are certified up to a maximum 1.0 mil (25.4 micron) thickness.
DIN CERTCO is the certification organization of TÜV Rheinland Group and DIN, the German Institute for Standardization. It is highly regarded for its independence, neutrality and competence. It is one of the two organizations in Europe recognized for certifying biodegradability. DIN CERTCO certified Compostable 3002, 3010 and 3020, and Compostable 3015 is expected to receive certification in the near future.
Vinçotte International is a renowned inspection facility headquartered in Vilvoorde, Belgium. Vinçotte grants OK Compost certification to a product after verifying that it meets EN 13432, a standard for compostability recognized in Europe, Asia and North America. Cereplast Compostable 3002 also received the OK Compost certification this week, and the additional grades are expected to receive certification soon. Vinçotte is the second organization recognized for certifying biodegradability in Europe.
Cereplast Chairman and CEO Mr. Frederic Scheer commented, "Third party certification provides our customers with proof that our compostable materials meet the required standards for industrial compostability, and in Europe, DIN CERTCO and Vinçotte are the two certifying bodies for EN 13432. These certifications are an important component for doing business in Europe and further facilitate the sale of our material across the continent. Obtaining the DIN CERTCO and the Vinçotte/OK Compost certification according to EN 13432 was the last milestone our Company needed to reach prior to the enforcement of the Italian sanctions."
Mr. Scheer continued, "The Company anticipates that the full effect of the Decree will start by summer/fall 2013 and expects to see a surge in demand for its bioplastic resins as a result in the weeks to come. As previously disclosed we estimate that after the initial transition period, the total addressable market for compostable blown film grades in Italy will exceed $500 million. Based on current market pricing of $4,500/ton, and capacity of 3,000 tons/month at our Seymour facility, we are capable of producing in excess of $10 million per month. We remain confident that our Cereplast Compostables blown film resins have a competitive advantage."