Bioplastics technology company to list on AIM

By
Tuesday, 13 March, 2007

Plantic Technologies Limited, an Australian-based biodegradable materials technology company which has developed an environmentally-friendly alternative to petrochemical-based plastics, has announced its intention to list on the AIM market of the London Stock Exchange.

The company is seeking to raise in excess of $37 million, with dealings expected to begin in May 2007. The funds are to be used for research and development, new product commercialisation, manufacturing and ongoing capital expenditure.

Plantic's technology delivers a fully biodegradable, water-soluble, organic alternative to petrochemical-based plastics. The raw material is based on non-genetically modified high-amylose corn starch which enables it to be formed into plastic. The material can be converted into objects such as packaging and rigid plastics on industry standard equipment.

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