Australia-based Leaf Resources has entered a new agreement to gain rights to commercialise and distribute its biodegradable coating product for the packaging market, Leafcoat, in Europe.
Secured as part of the original agreement, the latest agreement complements the company’s existing licence in North America, Brazil, and Malaysia.
Leaf Resources CEO Ken Richards said: “The addition of Europe as a licensed territory is exciting as it provides access to a range of markets and companies that are focused on sustainability and developing products that contribute to improving the environment.”
Leafcoat contains lignin and glycerol, and is designed for renewably sourced, recyclable and biodegradable packaging materials.
The company has also licensed the technology for Leafcoat from the Queensland University of Technology (QUT) bluebox. QUT’s project team developed the technology.
Leafcoat can replace petroleum-based wax coatings and various plastic coatings used to waterproof the non-recyclable paper or cardboard.
The product is also suitable for mulching markets as it is claimed to replace black polyethylene as mulch. It can be used for food and beverage packaging as a biodegradable, recyclable and renewable solution.
Leaf Resources converts plant biomass into industrial sugars for the production of renewable chemicals, which can be used to replace petrochemicals used in manufacturing processes.