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Cereplast (CERP) Expects to Ship 16 Million Pounds of Bioplastics in 2010

Jun. 8, 2010 (Business Wire) — Cereplast, Inc. (NASDAQ: CERP) a leading manufacturer of proprietary bio-based, sustainable plastics, announced today that it expects to produce and ship approximately 16 million pounds of their proprietary bio-plastic resins to customers in 2010, representing a 400% increase in shipments compared to 2009.

Cereplast recently entered into new global distribution agreements with a number of companies, including multi-billion dollar corporations Ashland Distribution, a commercial unit of Ashland Inc. (NYSE: ASH) and Bunge Alimentaris, a Brazilian subsidiary of Bunge Limited, a contributing factor to the rise in shipment estimates. To support growing sales volume, the Company recently opened a new state-of-the-art production facility in Seymour, Indiana. The move to the new plant, which was relocated from Southern California, also has significantly reduced real estate and utility costs for the company.

“Distributors are increasingly utilizing bio-plastics as an alternative to petroleum-sourced materials in order to meet growing consumer and industrial demand for economically and ecologically sound, ‘green’ products,” said Frederic Scheer, Chairman and CEO of Cereplast, Inc. “Our new advanced facility provides us with the capacity and scalability to handle climbing volume. We estimate that this facility, running at full capacity, will be able to produce approximately 80 million pounds of bioplastic resin per year.”

Mr. Scheer added, “We estimate that the expected rise in volume will result in our 2010 revenues increasing by a minimum of 190 percent. The bulk of the shipments are expected to be delivered in the third and fourth quarter.”

About Cereplast, Inc.

Cereplast, Inc. (NASDAQ: CERP) designs and manufactures proprietary bio-based, sustainable 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. On the cutting-edge of bio-based plastic material development, Cereplast now offers resins to meet a variety of customer demands. Cereplast Compostables® Resins are ideally suited for single use applications where high bio-based content and compostability are advantageous, especially in the food service industry. Cereplast Hybrid Resins® combine high bio-based content with the durability and endurance of traditional plastic, making them ideal for applications in industries such as automotive, consumer electronics and packaging. Learn more at www.cereplast.com

Safe Harbor Statement

Matters discussed in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words “anticipate,” “believe,” “estimate,” “May,” “intend,” “expect” and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with: the impact of economic, competitive and other factors affecting the Company and its operations, markets, product, and distributor performance, the impact on the national and local economies resulting from terrorist actions, and U.S. actions subsequently; and other factors detailed in reports filed by the Company.

Tuesday, June 8th, 2010 Uncategorized
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