Total
0
Shares
City of Melville awards SECOS Group (ASX:SES) with $600K contract to supply compostable bags
Source: Bara Electrical
  • Bioplastics developer SECOS Group (SES) has been awarded a $600,000 contract by the City of Melville, to supply compostable bags to city councils
  • SECOS will supply over 42,000 homes with compostable kitchen tidy bags to reduce the amount of food waste ending up in landfills
  • This initiative is part of the Australian Councils' Food Organics and Garden Organics program
  • This program aims to repurpose food and garden waste as compost for land and soil enrichment
  • Additionally, SECOS' contract with the Penrith City Council has been extended until the end of this year
  • Company shares are up 14.3 per cent and trading for 6.4 cents each

Bioplastics developer SECOS Group (SES) has been awarded a $600,000 sales contract by the City of Melville, to supply compostable bags to city councils.

SECOS will supply over 42,000 homes with compostable kitchen tidy bags to facilitate the diversion of food waste from landfills. This initiative is part of the Australian Councils' Food Organics and Garden Organics (FOGO) program.

Council-led FOGO programs are intended to reduce the millions of tons of organic food and garden waste that are sent to landfill. Instead, these programs aim to repurpose the waste as compost for land and soil enrichment.

SECOS' compostable bags makes diverting food waste to green bin collections easy as both the bag and food waste can be composted back into the environment.

"SECOS’ products help to divert food waste away from landfill into composting facilities, thus returning the nutrient value of food waste to the soil to produce more food supporting the circular economy," CEO Ian Stacey said.

"Diverting organic waste away from landfill reduces Council landfill fees and significantly cuts the release of methane gas produced when food is left to decompose in landfill instead of being diverted to mulch," Ian added.

Methane is reportedly 23 times more harmful than carbon dioxide as a greenhouse gas which, along with the cost savings, highlight the demand for products like SECOS'.

Additionally, SECOS has been granted an extension to its contract with Penrith City Council, which it will see through to the end of 2020.

In total, SECOS now supplies over 30 city councils in Australia.

Company shares are up 14.3 per cent and trading for 6.4 cents each at 3:59 pm AEST.


Subscribe


SES by the numbers
More From The Market Herald
Animoca Brands (ASX:AB1) buys Power Rangers game developer for $11.4M

" Woolworths (ASX:WOW) to stock SECOS Group’s (ASX:SES) compostable bag range

SECOS Group (SES) will soon have two of its certified compostable bin liners sold in-store at Woolworths (WOW) supermarkets.
Ecofibre (ASX:EOF) - CEO & Managing Director, Eric Wang - The Market Herald

" Ecofibre (ASX:EOF) gets A$10 million term loan

Hemp company Ecofibre (EOF) has obtained a A$10 million term loan, due for repayment in July 2021.
Phoslock Environmental Technologies (ASX:PET) downgrades guidance after fresh COVID-19 outbreaks in China

" Phoslock Environmental Technologies (ASX:PET) downgrades guidance after fresh COVID-19 outbreaks in China

As the threat of a second wave of COVID-19 infections looms overseas, water treatment company Phoslock Environmental Technologies (PET) has downgraded its revenue
Fluence Corporation (ASX:FLC) commence building at Ivory Coast

" Fluence Corporation (ASX:FLC) sells waterwaste treatment in China

Fluence Corporation (FLC) has sold its first smart wastewater treatment, the Aspiral System, to Three Gorges Group.