Rotorua-based the Biopolymer Network (BPN) is finalising its first ZealaFoam commercial application with a US-based global company, says chief executive Sarah Heine.
Plant-based ZealaFoam, almost a decade in development, is being positioned by BPN as an eco-friendly replacement for polystyrene, which Ms Heine said was a US$38 billion ($59 billion) global market.
"We're very excited and optimistic about ZealaFoam's potential," said Ms Heine.
ZealaFoam is made from polylactic acid beads derived from corn starch and uses a patented CO2 foaming technology that allows it to be moulded into insulation, packaging and specialty components.
Ms Heine said the focus had been on proving the technology worked in large-scale volumes in partnership with Auckland plastics maker Barnes Plastics and a US sports equipment company.