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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Plantic Tech. | LSE:PLNT | London | Ordinary Share | AU0000XINEG8 | ORD NPV (DI) |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 7.75 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMPLNT Plantic Technologies Limited 02 March 2009 ? 2 MARCH 2009 PLANTIC TECHNOLOGIES LIMITED REPORT ON ENERGY SAVINGS THROUGH USE OF BIODEGRADEABLE PLASTIC: SWITCHING EASTER EGG PACKAGING COULD POWER BIRMINGHAM, LEEDS & MANCHESTER OVER EASTER Plantic Technologies produces biodegradeable plastic made from starch which occurs naturally in corn. No additives are used in the process. The plastic is stable, robust and yet decomposes with no residue. Plantic's material is used in an increasingly wide variety of packaging applications and can most commonly be found in trays used to package chocolates, including Easter eggs. Users of Plantic's material include Marks & Spencer, Cadburys and Sainsburys. Plantic Technologies announces the results of a study it has commissioned into the energy savings that can be achieved through manufacturing and using biodegradeable plastic instead of plastics made from polymers derived from hydrocarbons. The study has also considered the energy implications of recycling plastic packaging materials and concludes that much more energy is wasted through recycling than is generally realised. Key Findings * If all the chocolate eggs purchased in the UK each Easter were packed in Plantic material instead of hydrocarbon plastic, that would save enough energy to power over 1 million households from Good Friday to Easter Sunday - that's more than the total number of households in Birmingham, Leeds and Manchester combined. * 41,000 boxes of chocolates with biodegradeable plastic trays saves the same amount of energy as is consumed EACH YEAR by the average UK household * 30,000 boxes of chocolates with biodegradeable plastic trays saves the same amount of energy as is consumed EACH YEAR by a standard compact car. Energy Savings 1 sheet of Plantic material (enough to make 1,000 chocolate trays) uses 544 MJ of energy. 1,000 conventional polyethylene trays use 1362MJ. 1,000 Plantic trays therefore save 818 MJ of energy. 1 tonne of Plantic material produces 98 sheets and therefore saves 80.2 GJ of energy. The average UK household consumes 33.5 GJ of energy each year. The average compact car consumes 24.5 GJ of energy each year. Every Easter, UK consumers get through approximately 3,500 tonnes of plastic packaging when they buy Easter eggs. If all of these eggs were packaged in Plantic material, that would save over 275,000 GJ of energy. This is the equivalent amount of energy that is consumed by more than 1 million UK households between Good Friday and Easter Sunday, more than the number of households in Birmingham, Leeds and Manchester combined. If 41,000 people buy a box of chocolates using a tray made of Plantic material instead of a standard box of chocolates, that will save the same amount of energy as is consumed in a year by the average UK household. If 30,000 people buy a box of chocolates using a tray made of Plantic material instead of a standard box of chocolates, that will save the same amount of energy consumed in a year by a standard compact car. The myth of recycling The UK is making some progress in improving the amount of plastic packaging that is recycled. In 2007, only 7% of waste plastic in the UK was recycled. That proportion is understood to be increasing, but it is still far too low to be considered environmentally beneficial. The fact is that local authorities and waste management companies in the UK are either sending waste packaging that is claimed to be recycled to landfill sites, or are exporting the packaging abroad, mainly to China. According to WRAP, the UK's exports of recovered plastics grew almost ninefold between 2000 and 2006, of which between 80% and 90% was destined for China. Over the same period, Chinese imports of recovered plastic tripled from around 2 million tonnes to 6 million tonnes. In 2007 alone, it is estimated that 500,000 tonnes of recovered plastic was exported to China. Cargo ships run on bunker fuel, the dirtiest, cheapest product that remains after petrol and other high-grade fuels are refined from crude oil. Bunker fuel contains up to 5,000 times more sulphur than diesel. As a result, according to Bluewater Network, a division of Friends of the Earth, a single container ship emits more pollution than 2,000 diesel trucks. Quite apart from the pollutive effect of shipping, there is also energy wastage to be considered. Plantic has calculated that approximately 5 journeys by cargo ship to the UK from China and back are required to ship 500,000 tonnes of plastic, and that each journey consumes 1.9 million GJ of energy. The process of shipping this plastic therefore uses the equivalent energy consumed each year by over 260,000 UK households. If all of this plastic were biodegradeable and could be composted instead, the energy savings to the whole planet would be enormous - before even taking into account the reduced air pollution. Plantic Technologies offers governments, local authorities, packaging companies and retailers to a real alternative to using hydro-carbon based plastic and actively support the use of biodegradeable plastic. Not only does the manufacturing of hydro-carbon based plastics consume more energy, but its disposal is also far less efficient and more damaging to the environment. Brendan Morris, Chief Executive of Plantic Technologies, summarises: "We have already proved that Plantic's material can compete functionally with traditional hydrocarbon-based plastic, with our investment in Europe it is cost competitive. We also knew that its environmental credentials are far superior, which our most recent study proves beyond doubt. "We encourage recycling where it makes sense but often Recycling does not solve any problems, it merely hides them - often in the ground, for a future generation to deal with." FURTHER INFORMATION: +-------------------------------------+-------------------------------------+ | Plantic Technologies: | | +-------------------------------------+-------------------------------------+ | Brendan Morris, Chief Executive | +61(0)3 9353 7983 | | Officer | | +-------------------------------------+-------------------------------------+ | | | +-------------------------------------+-------------------------------------+ | Pelham PR: | | +-------------------------------------+-------------------------------------+ | Archie Berens | +44 (0)207 743 6679 / +44 (0)7802 | | | 442486 | +-------------------------------------+-------------------------------------+ This information is provided by RNS The company news service from the London Stock Exchange END NRAEAKAXADENEFE
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