February 8, 2008
Bioplastics A Rising Star in Clean Tech Industry
Konarka Technologies is one of a handful of bioplastics startups that is catching some attention. A developer of photovoltaic plastic used for portable solar systems, the company brought in $45 million in its latest round of funding from Mackenzie Financial and Good Energies.
Another such company is Metabolix, which makes plastics out of fermented starches. In 2006, it partnered with ADM to commercialize Mirel plastics and signed a deal with Target to sell bioplastic gift cards. The company has yet to turn a profit, but last year it posted $4.6 million in sales.
Cereplast recently announced plans for a new facility in Seymour, Indiana, that will add 500 million pounds a year to its bioplastic resin production. One article last fall examined the niche bioplastics has been carving in the market.
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