Thursday, April 25, 2024

SECOS Group to support Australia’s plastic waste revolution

Australian company MyEcoBag™ is leading the charge when it comes to helping solve the world’s conventional plastic bag problem, having produced 500 million compostable bags since 2018.

MyEcoBag is a leading producer of compostable packaging and has been supplying compostable bin liners and pet waste bags to Australians for over a decade. Over the past six years, MyEcoBag has sold 500 million compostable bags globally.

MyEcoBag products are also fast to compost, taking about 90 days to fully break down when composted, leaving no microplastics or toxic residue due to being made with GMO-free corn and other compostable materials.

At the helm of the company is Richard Tegoni, an early-stage investor in the biopolymer industry, who has been instrumental in taking the company from a small startup to becoming a global player in compostable products and technology. MyEcoBag is Australian-owned and operated, from its ideas and designs through to its cutting-edge technology, formulations and materials.

This has led MyEcoBag to become market leaders in compostable bin liner bags in major Australian grocery stores (Coles and Woolworths) accounting for 35 per cent of compostable bag sales. Globally, the company’s range of certified compostable products is gaining momentum and can be found in 20 countries, with the USA the company’s biggest growth market – doubling in size in the last financial year alone.

Locally, the MyEcoBag compostable products continued to deliver, achieving over 140 per cent growth in FY23 compared to the previous year. Pivotal to the company’s growth in Australia has been the Food Organics and Garden Organics (FOGO) program rollout, with

MyEcoBag bin liners the leading choice for councils. The adoption of the brand’s products in these programs has led to an increased revenue of 74 per cent since late 2022.

“Through the FOGO program and our relationship with councils, data has shown that when households use compostable bin liners, it increases the separation of food waste by as much as 32 per cent,” says SECOS Group Limited CEO and Executive Director Richard Tegoni.

“The beauty of compostable bags is they contribute to a circular economy; when properly composted, the result is new, nutrient-rich soil to help grow plants, therefore generating something new, whereas alternatives such as dissolvable bags don’t contribute to the circular economy – food needs to compost with worms, air and soil.”

Looking ahead, MyEcoBag’s vision is to continue to grow alongside the Federal Government’s FOGO program helping everyday Australians divert more food from landfill and positively participate in the circular economy.

MyEcoBag products is available at over 2200 retail stores within Australia including Woolworths, Coles, Ritchies IGA, and other independent stores. The company’s compostable products are also available in 20 countries and growing.

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