Biodegradable plastics manufacturer Casey Container Corp. has collected enough prospective business inquiries to reach several hundred million dollars in potential sales, according to one employee. These prospective clients are expected to help Casey immediately close business deals once product is available. This information comes on the heels of Casey’s two announcements earlier this week, regarding an increase in funding to $10 million and preparation to launch into the $2.3 billion market for biodegradable preforms, bottles and containers.
Casey is a licensee of the proven EcoPure additive, which is added to plastic resin during the manufacturing process, making the plastic fully biodegradable in a landfill environment. Casey Container plans to use the pending equity funding to open new facilities in the first quarter of 2013 and rapidly produce biodegradable plastic products for a variety of industries, using the EcoPure additive.
Robert Seaman, vice president of manufacturing for Casey Container, states existing demand from direct inquiries and proposals could potentially consume full production capacity of the new manufacturing facility immediately upon opening.
“The management team has received dozens of contract proposals and inquiries that could be triggered immediately,” states Seaman, who has over 37 years of experience in the bottling business. “I have personally been involved in over 20 different discussions with suppliers seeking biodegradable plastic products proven to fully biodegrade in a landfill. All of them are eager to purchase our products immediately, once available. These companies will take as much product as we can produce.”
Seaman went on to state that for the bottled water industry alone, he believes the market for biodegradable bottles and preforms could be large enough to put Casey Container in an early leadership position.
“The global bottled water business is now worth about $50 billion annually and the US market is roughly $15 billion of that figure. If we could capture a mere 1% of that market, we’re talking hundreds of millions of dollars in sales annually for our product, just in North America alone,” Seaman says. “Our product crosses over into any market that currently uses plastic containers, but is seeking a reputable, effective biodegradable solution. Clearly, we are going to look at strategic ventures and partner opportunities that help us get to market faster.”
Seaman is a veteran in the bottling industry who has worked with some of the world’s largest bottlers, including those in the suntan lotion, motor oil and bottled water industries.