$1.2m for banana paper has appeal

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PAPYRUS Australia has been awarded a $1.2 million grant to commercialise its paper-making technology.

The money, from a Federal Government Commercial Ready grant, would be used to build a demonstration plant in Queensland.

The Adelaide-based company expects the plant, able to produce 20,000 tonnes of paper per year from banana ply, would be ready by May next year.

The company plans to sell the paper-making technology, rather than produce the paper commercially.

Papyrus managing director Ramy Azer would not reveal how much a 20,000 tonne plant would cost, but said with paper costing about $1000 a tonne to buy, but only about $150 per tonne to produce with the Papyrus technology, investors would be looking at a good return on investment.

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