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Press Releases
     
 
2008-06-18
Cereplast Compostables® Resins Meet Federal “Biopreferred” Procurement Requirements

 

 

HAWTHORNE, Calif., June 18, 2008 - Cereplast, Inc. (OTCBB: CERP), manufacturer of proprietary bio-based, sustainable plastics, announced today that products made from Cereplast Compostables® resins meet new federal procurement guidelines for bio-based content enacted June 13 by the United States Department of Agriculture. All companies using Cereplast Compostables® resins can be listed on the USDA “BioPreferred” web site (http://www.biopreferred.gov).  “BioPreferred” products are given preference by the U.S. General Services Administration (GSA), the purchasing agent responsible for billions of dollars in products which are supplied to various federal agencies.

Companies looking to develop “BioPreferred” products can turn to Cereplast as a solutions provider for a wide range of plastic products, especially those targeted at food service applications such as plastic straws, utensils, cups, bags and containers.

“This is the culmination of many years of proactive work to improve access of federal agencies to sustainable goods, and we’re looking forward to helping our customers develop new bio-based products for inclusion in the ‘BioPreferred’ program,” said Frederic Scheer, chairman and CEO of Cereplast. “Practically speaking, this means that federal agencies are now required to use bio-based products for their food service ware supplies, and we see this as a great opportunity for our customers to expand the reach of their ‘green’ sales.”

Scheer added, “With this new regulation, the federal government is making a strong commitment to enhance the use of bioplastics which should result in additional demand for Compostables® resin from our converter customers.”

Products from Cereplast’s consumer products division, Nat-Ur, are already categorized as “BioPreferred” on the USDA web site. Additional products made from Cereplast Compostables® plastic resin by existing Cereplast converters such as Genpak, Innoware and Alcoa will be posted shortly.

Last week, the U.S. Department of Agriculture formally amended the guidelines for designating bio-based products for federal procurement, to add sections to designate items, including subcategories, within which bio-based products will be afforded federal procurement preference. The USDA guidelines include minimum bio-based content.

Cereplast Compostables®-made products far exceed these new procurement guidelines, while still remaining cost-competitive with traditional plastic products, especially with oil prices at recent levels, making them an ideal solution for converters supplying federal and state agencies.

About Cereplast, Inc.

Cereplast, Inc. (OTCBB:CERP) designs and manufactures proprietary bio-based, sustainable plastics which are used as substitutes for petroleum-based plastics in all major converting processes – such as injection molding, thermoforming, blow molding and extrusions – at a pricing structure that is competitive with petroleum-based plastics. On the cutting-edge of bio-based plastic material development, Cereplast now offers resins to meet a variety of customer demands. Cereplast Compostables™ resins are ideally suited for single use applications where high bio-based content and compostability are advantageous, especially in the food service industry. Cereplast Hybrid Resins™ products combine the high bio-based content with the durability and endurance of traditional plastic, making them ideal for applications in industries such as automotive, consumer electronics and packaging.  Learn more at www.cereplast.com.

Safe Harbor Statement

Matters discussed in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with: the impact of economic, competitive and other factors affecting the Company and its operations, markets, product, and distributor performance, the impact on the national and local economies resulting from terrorist actions, and U.S. actions subsequently; and other factors detailed in reports filed by the Company.