Households outside of specific eco-friendly councils will soon be able to purchase certified compostable bin liners from Woolworths which has selected SECOS Group (ASX: SES) as their compostable bin liner supplier.
The supply agreement will significantly expand SECOS’s distribution capabilities where they will supply the national supermarket chain with 8L and 36L bin liners. Beyond just supplying the compostable products, households within councils participating in organic waste programs will be able to dispose of the bags and food waste into Woolworths’ green waste bins.
“SECOS is pleased to broaden its product portfolio and customer base in what we feel will be a strong growth area both in Australia and around the world,” said SECOS CEO, Ian Stacey.
“It is pleasing to see the hard work in launching new brands and products come to fruition.”
The initial rollout will see Woolworths stocking SECOS products in their 86 ECO stores with a view to expand through the broader Woolworths retail network. Using the bags, households are able to reduce their greenhouse emissions while capturing organic food waste which councils then process into fertile mulch for local re-deployment.
As part of their new distribution opportunity, SECOS will launch the products under the MyEcoBag brand in Australia which display their Woolworths-certified status. Plans are also in the mix to expand the brand into MyEcoWorld and MyEcoPet compostable waste bag ranges.
Each year, more than 20 million tonnes of plastic are used to create 1 trillion single-use plastic bags which, on average, get used for about 12 minutes. Within their mission to replace single-use plastic bags which can take decades to break down, SECOS products significantly reduce environmental pollution and are more eco-friendly than paper bag alternatives which require 6x more energy to produce.
Following news of their new national distribution deal, SES shares surged to a high of $0.18 in the first five minutes of morning trade, a rise of 221% on their previous $0.056 close.
Alfred Chan is a Business Reporter at The Sentiment specialising in ASX-listed small cap companies, a bloodstock enthusiast and former equities analyst.
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