Banana Waste Proving To Be Complete Package

A company in Adelaide which has spent around 15 years perfecting its system of turning banana plantation waste into food packaging. The share price for Papyrus Australia has doubled in the past fortnight since it was announcing the successful proof-of-concept trial at its factory in Egypt.

Papyrus Australia was founded in Adelaide in the mid-1990s after Azer had moved to Australia with his Adelaide-born wife Phoebe to complete a Masters in Mechanical Engineering at the University of Adelaide. He then developed a technique for producing veneer from fibre sourced from banana tree trunks.

A banana palm takes around 6-8 months to grow to maturity, producing one large bunch. The tree is cut down and left to rot and a new shoot is grown in its place. The company listed on the ASX in 2005 then spent the next five years building a prototype machine.

There are approximately 3,000 hectares of banana plantations in Australia and it is estimated that globally, banana plantations cover more than 10 million hectares, which 2.2 billion tonnes of waste annually. It also uses a process that is zero-waste and chemical-free and creates a product that is water and fire resistant and biodegradable.

The company is more of a technological company rather than a banana waste processors, and now there are new plans that have been put in place to license its technology to suitable entities to establish the banana fibre factories in locations where bananas have grown.

References:

https://indaily.com.au/news/business/2021/09/29/banana-waste-proving-to-be-complete-package/