Papyrus Egypt (ASX:PPY) produces banana fibre food packaging

• Papyrus Australia (PPY) develops a 100 per cent Banana Fibre Clam Shell moulded product
• The agricultural wastre fire company has used its leased moulded fire packaging facility, located in Sharqiah, Egypt
• Papyrus is now able to output 6300 clamshells per hour from the facility
• Papyrus Australia (PPY) was up 5.56 per cent, trading at 6.7 cents

Papyrus Australia (PPY) has managed to reportedly develop a world-first – a 100 per cent banana fibre clamshell moulded product.

Papyrus has done so from its leased moulded fibre packaging facility in Sharqiah, Egypt.

With the achievement of this milestone, Papyrus can now output 6300 clamshell food packages per hour from the packaging facility.

In addition, it is also able to supply surplus outputs under an “off-take” agreement to the Hailm family operation AI Ahram to replace plastic food packaging. This outcome represents a “significant IP gain” in the preparation of banana fibre.

Gains include the design moulds themselves, and the construction of moulding lines to successfully mould its banana fibre products.

Papyrus Australia’s Managing Director Ramy Abraham Azer said this production proves the capabilities of the technology utilising banana tree waste to manufacture an array of environmentally superior products.

Papyrus Australia (PPY) was up 5.56 per cent, trading at 6.7 cents at 10:47 am AEDT.