Papyrus Australia awarded U.S. patent for removal of fibers from banana palms, moves closer to commercializing production of banana palm wood-alternative

LOS ANGELES , January 19, 2012 () – Papyrus Australia, a manufacturer of banana palm wood-alternative products, has been granted a patent in the U.S. covering the method and apparatus for removing sheets of fibers from banana plants.

In a Jan. 17 statement, the Dulwich, South Australia, company said the issuing of Letters of Patent by the U.S. Patent office represented an important milestone in ensuring successful commercialization of the Papyrus technology.

Chairman Ted Byrt said holding patents in major markets in the U.S. was an essential element in enhancing shareholder value. The statement said Papyrus also has patents in Australia, China, Egypt, Indonesia, Mexico, New Zealand, Russia, Singapore, South Africa and African Regional Intellectual Property Organization countries.

Papyrus Australia's process converts the waste trunk of the banana palm into alternatives to wood products. Applications include packaging, furniture and construction.

In November, Papyrus announced a placement to raise AU$1.052 million to set up Papyrus Egypt and finance other major projects, according to a report by Proactive Investors. Papyrus Egypt is being developed through a 50:50 joint venture with Egyptian Banana Fibre Company.

The placement funds will also support the Yellow Pallet Project, a joint venture to develop the world’s first banana fiber pallet, and enable the construction of veneer and fiber production units.

The primary sources of this article are a statement issued by Papyrus Australia, Dulwich, South Australia, on Jan. 17, 2012 and a report by Proactive Investors Australia on Jan. 17, 2012.

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