Cereplast, Inc. (the "Company"), a leading manufacturer of proprietary biobased, compostable and sustainable bioplastics, today announced that the Company filed a patent application on March 15, 2013 with the United States Patent and Trademark Office (USPTO) for algae bio-content polymers.
Cereplast's new patent filing falls in line with their overall intellectual property strategy and specifically protects its innovations on Algae related material. This patent application is the result of several years of formulation and process development by the Cereplast research and development team. The Company first introduced the concept of bioplastics made with algae in 2009, commercialized Biopropylene® 109D in late 2012 and incorporated a wholly owned subsidiary, Algaeplast™, Inc., in early 2013.
Algaeplast will take over the development and manufacture of algae-based bioplastics to transform a range of low-cost algae into high-value bioplastic resins and renewable biofuels. The patent application was filed by Cereplast, but the use of the patent will be assigned to Algaeplast.
Cereplast Chairman and CEO, Mr. Frederic Scheer, stated, "This patent is one of many steps on our journey of developing this new category of plastic. We see a significant future ahead for the estimated over $100 billion algae biofuels and bioplastics industry, and we are firmly committed to protecting the intellectual property of the Company as we further our work. Considering there is a lack of algae bioplastic patents today, we strongly believe that our experience and research and development capability has allowed us to foresee the future of renewable plastics and carry out this valuable technology. We also believe that our vision is starting to take shape with algae being on the verge of large commercial production for biofuels and bioplastic applications. Large companies in the airline industry and others are following the progress of numerous companies ready to commercially offer algae as a viable alternative to petroleum, both for fuel and chemicals. Algaeplast wants to be at the forefront of this new fuel and chemical revolution."