Biodegradable plastics manufacturer in the US Casey Container has received a new Letter of Interest from a German investment fund increasing the funding amount to $10m.
Casey Container CEO Martin Nason said the increase of fund is the result of discussions related to the company’s business model and strategies, key product differentiators, upcoming product launch and operating plans that are short and long-term based.
"Their interest in our long-term goals is very encouraging, and consistent with their desire to fund our growth and international expansion in the biodegradable plastics industry," Nason said.
Casey uses the EcoPure additive, which is added to plastic resin during the manufacturing process, making the product biodegradable in a landfill environment.
The company designs and custom manufactures biodegradable PET, HDPE and other plastic polymer preforms, bottles and containers for use in the bottled water, beverage and consumer products industries.