Cereplast, Inc. (OTCBB:CERP), manufacturer of proprietary bio-based renewable plastics, has received $3.4 million in new capital through the sale of common stock. The infusion of new funding will not only support Cereplast’s growth but also allow the Company to continue to successfully introduce additional bio-based resins to the market.
This new capital also expands the breadth of Cereplast’s shareholders to include two large European institutional fund managers. One of the lead investors, Swisscanto, is one of Europe’s largest fund managers with over CHF 61.8 billion ($51.0 billion) under management. As part of its investment, Swisscanto has added Cereplast to its Equity Fund Climate Invest, which invests in public companies with environmentally and economically sound platforms in renewable energy and water.
About Cereplast
Cereplast, Inc. designs and manufactures proprietary bio-based, renewable plastics which are used as substitutes for petroleum-based plastics in all major converting processes – such as injection molding, thermoforming, blow molding and extrusions – at a pricing structure that is competitive with petroleum based plastics. Cereplast’s uniquely formulated resins are certified biodegradable and compostable by BPI (Biodegradable Products Institute).
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