- Papyrus Australia (PPY) has lodged an Australian patent application for its innovative banana fibre production process
- The ASX-lister uses the process to produce an environmentally friendly fibre ideal for use in moulded food packaging style products
- The application comes after Papyrus reported successful results from its trial testing banana fibres versus wood pulp in moulded packaging
- PPY also says today’s patent application is an important first step in acquiring international patent protection for its method
- Shares in Papyrus have jumped up 12.5 per cent after today’s news, trading at 3.6 cents per share at the close of market on Wednesday
Papyrus Australia (PPY) has lodged an Australian patent application for its innovative banana fibre production process.
The ASX-lister uses the process to produce an environmentally friendly fibre ideal for use in moulded food packaging style products.
Today’s application comes after Papyrus reported successful results from its trial testing banana fibres versus wood pulp in moulded packaging.
The company said gaining an Australian patent was an important first step in acquiring international protection for its method.
PPY already has two patents in place which cover the processes of treating banana tree trunks waste and creating banana fibre chips from veneered banana fibre.
Papyrus Australia’s Managing Director Ramy Abraham Aze said this latest application would complement its existing patents.
“This new patent represents a fundamentally important step, both in the process of refining raw banana fibre to enable it to be used in the production of food-quality, moulded packaging products, but also in our journey towards our end goal of replacing plastic packaging for a more sustainable future,” he said.
Shares in Papyrus Australia have jumped up 12.5 per cent after today’s news, trading at 3.6 cents per share at the close of market on Wednesday.