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- Bioplastics developer SECOS Group (SES) prepares to invest in a global research and development centre in Melbourne for bioproducts
- A key focus of this centre is to speed-up development of compostable solutions in the packaging, food and waste management sectors
- SECOS’s $2 million investment will significantly expand its technical expertise and capabilities in the development of new compostable products
- To help, SECOS will hire additional staff and invest in specialist compounding and film lines to develop high-end compostable resin, bags and film
- SECOS is up 2.59 per cent on the market with shares trading at 29.8 cents at 12:27 pm AEST
Bioplastics developer SECOS Group (SES) is set to invest in a global research and development centre in Melbourne for bioproducts.
A key focus of this centre is to speed-up development of compostable solutions in the packaging, food and waste management sectors.
The centre will combine company’s existing and proprietary intellectual property with its proven track record of compostable biopolymers.
The $2 million investment will significantly expand SECOS’ technical expertise and capabilities regarding the development of new compostable products and applications.
To help, SECOS will hire additional staff and invest in specialist compounding and film lines to develop high-end compostable resin, bags and film.
CEO Ian Stacey is excited to invest as it will complement the company’s existing experience.
“We are extremely excited with our decision to invest in a leading global research and development centre in Australia that will complement our already strong technical expertise across our global operations,” Mr Stacey commented.
“We are looking forward to sharing breakthroughs with new technology in the fast-growing biopolymer market which is already seeing a rapid expansion in the use of compostable products and applications that replace conventional plastic use.”
SECOS was up 2.59 per cent on the market with shares trading at 29.8 cents at 12:27 pm AEST.
