| Cereplast Raises $3.4 Million in New Equity Capital |
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Hawthorne, CA.--Cereplast, Inc., manufacturer of proprietary bio-based renewable plastics, announced today that it has received $3.4 million in new capital through the sale of common stock. The infusion of new funding will not only support Cereplast's growth but also allow the Company to continue to successfully introduce additional bio-based resins to the market. Mr. Frederic Scheer, CEO of Cereplast, stated, "We have been very pleased with the rapid pace of our growth since the commercial launch of our proprietary bio-based resin in the 4th Quarter of 2006. This capital infusion provides Cereplast with the additional capital needed to support this growth." This new capital also expands the breadth of Cereplast's shareholders to include two large European institutional fund managers. One of the lead investors, Swisscanto, is one of Europe's largest fund managers with over CHF 61.8 billion ($51.0 billion) under management. As part of its investment, Swisscanto has added Cereplast to its Equity Fund Climate Invest, which invests in public companies with environmentally and economically sound platforms in renewable energy and water. Stephan Garden, Senior Vice President of Cereplast, added, "We are very pleased to be able to increase our shareholder base and to welcome a number of prominent European institutional investors as shareholders of Cereplast."
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