Sustainable resins specialist Cardia Bioplastics has seen a steep rise in demand for its packaging and bag products.
Monthly orders have increased by 60 per cent over the last 12 months to over $100,000 for the company’s Biohybrid and Compostable dog waste bags from US and European retailers.
The dog waste bags are produced in Cardia’s manufacturing operations in Nanjing, China, where film and bag production was expanded to a capacity of 250 million bags per year in 2015.
Close to $300,000 of the proceeds from the recently announced SECOS Share Purchase Plan has been earmarked for further expansion of production capacity to meet anticipated further growth in demand from global customers.
Cardia, listed on the ASX as SECOS, also manufactures and supplies bags for the pet accessories market and household organic waste diversion.
There are now 17 Australian councils buying the company’s bioproducts and its organic waste management solutions have expanded into US and UK markets.
“The expansion of our film extrusion and bag making has been well timed, with the growing demand for sustainable bags and products with a lower carbon footprint," Cardia's CEO Frank Glatz said.
"This is driven by consumers, brand owners, governments and councils."
In other news, Cardia has secured patent protection for its Cardia Biohybrid foam products and processes from the US Patent and Trademark Office.
The patent expands the company's growing intellectual property portfolio of 11 patent families, with 20 patents so far granted in US, Europe, Australia, China, Japan, New Zealand and South Africa.
The patents protect the composition formulation and manufacturing process invented by Cardia’s R&D team.
