These two waste management stocks excited investors this morning
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Papyrus is one of the more unique companies on the ASX, developing technology that converts the waste trunk of the banana palm into products used in the packaging, furniture, and construction industries.
The company has a factory in Egypt and is hoping its products will replace traditional wood veneer.
This morning Papyrus told shareholders it completed a successful trial to produce commercial quantities of biodegradable moulded food packaging in a conventional, off the shelf, moulding machine.
The company declared it was a major milestone as it was the first time banana fibre was used on standard moulding machines, and thereby demonstrated commercial value of the company’s production process.
While the company has run trials before, the others were in specific laboratory conditions and had limited moulding runs.
“We are confident that we can now harness the unique advantages banana fibre has to optimise the end product or to achieve products other fibres are unable to produce,” managing director Ramy Abraham Azer said.
Papyrus shares rose by as much as 62% this morning.
M8 Sustainable (ASX:M8S) meanwhile is a stock that has more conventional waste management practices, including a landfill and recycling facility.
But today it unveiled a cloud-based waste management and logistics platform. The solution, Access Waste, is designed to streamline the ordering, logistics and supply chain of waste management.
M8S says it will also improve and grow its own commercial operations.
“The Access Waste platform will change the way businesses and the general public handle waste collection, processing and recycling,” said M8S managing director Tom Rudas.
M8 Sustainable shares rose by over 10% in morning trade.