German PE Fund Raises Casey Container Funding to $10M; Provides New Letter of Interest
SCOTTSDALE, Ariz.--(BUSINESS WIRE)--
Biodegradable plastics manufacturer Casey
Container Corp. (CSEY)
today announced receipt of a new Letter of Interest from a private
German investment fund increasing the funding amount to $10 million.
Casey has been working with the fund since March of 2012.
Because Casey uses the EcoPure®
additive, which has been proven
by independent third-party testing facilities to fully biodegrade
plastics in as little as three years, interested parties believe Casey's
products have the potential to be a major market disruptor for plastics
that must biodegrade in a landfill environment. The additive has
successfully been used and subject to long-term testing, since 2009.