Plantic and National Starch Reach Agreement for Starch Supply and Joint Technology Development
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MELBOURNE, AUSTRALIA; BRIDGEWATER, NJ, USA, October 5, 2007 - Plantic Technologies Limited (Plantic) and National Starch and Chemical Company (National Starch) today announced that they have entered into a Supply Agreement whereby National Starch will supply high amylose corn starch to Plantic for the manufacture of the eco-friendly Plantic® material.
Plantic and National Starch have also signed a joint development agreement which will allow them to collaboratively develop new starch technology and starch modification technology. The aim is to create new and enhanced functional properties for Plantic® resins and sheet which will broaden the performance spectrum of Plantic's materials thereby expanding potential markets by replacing certain non-biodegradable polymers and delivering new applications.
Plantic's eco-friendly and energy-efficient technology is based on the use of high amylose corn starch, whose unique chemical and film forming properties allow for a diverse range of applications. Plantic® has excellent functional properties such as biodegradability and gas barrier performance, making it suitable across a wide range of conventional plastics applications. It is certified to all relevant waste management and food contact standards and can be disposed of in home compost.
According to Plantic's CEO, Grant Dow, "The agreement with National Starch provides security of supply for Plantic as well as an alliance with one of the leading global natural polymer and agricultural research companies. High amylose starch remains the key component of Plantic's technology, and this research partnership provides new opportunities to broaden the application of this base polymer."
James P. Zallie, the Group Vice President of Natural Polymers at National Starch, said "This agreement with Plantic provides National Starch with an exciting new market for its specialty high amylose starch. We see real potential for starch-based polymers to secure a foothold in competition with traditional plastics. The combination of Plantic's bioplastics expertise and National Starch's natural polymer expertise provides a compelling partnership for future innovation."
About Plantic
Plantic Technologies Limited has emerged as a world leading bioplastics innovator. The Australian-based company has won numerous international awards of for achievement in science and has built an international network of major corporate customers, distributors and research and development partners. Plantic recently listed on the London Stock Exchange (AIM) under the symbol 'PLNT'. www.plantic.com.au
About National Starch
National Starch and Chemical Company, a member of the ICI Group (LSE: ICI), is a worldwide manufacturer of natural polymers, specialty polymers, adhesives, and electronic materials, with 2006 sales of $3.7 billion. National Starch is headquartered in Bridgewater, N.J. For more information about National Starch and Chemical Company, visit www.nationalstarch.com.
Editorial Contacts:
Dave Manion
908-685-5395
dave.manion@nstarch.com
Martin Torbert
908-685-5185
martin.torbert@nstarch.com
