20 July 2009 15:33 [Source: ICIS news]
HOUSTON (ICIS news)--Cereplast will receive funding from a European group of investors, assisting it in implementing plans to accelerate growth and in financing manufacturing supply agreements, the US bioplastics producer said on Monday.
“This investor group clearly understands the rapidly growing market opportunity for bioplastics and has endorsed our business model that leverages our proprietary product development capabilities and marketing strengths,” said Frederic Scheer, Cereplast CEO.
Financial terms were not disclosed.
Cereplast traded early Monday at 13.5 cents/share on the over-the-counter (OTC) markets, up 6.3% for the day.Bookmark Simon Robinson’s Big Biofuels Blog for some independent thinking on biofuels
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