Buyo Plastic's new generation of bioplastics can decompose in the natural environment. This type does not use starch but utilizes organic residue to turn into materials with properties similar to plastic but safe for health.
Established in 2022, Buyo Plastic's team consists of many young employees - Photo: HC
Plastic waste pollution is the biggest reason that prompted Buyo Plastic CEO - Ms. Do Hong Hanh - and her teammates to decide to start a research and production of new generation bioplastics.
Bioplastics that do not use starch
Plastic waste has become a pressing issue not only in Vietnam but globally. Ms. Hanh said there have been many solutions to recycle waste but they have not been completely resolved.
According to estimates, about 10% of the world's plastic waste is recycled because it requires a lot of effort and costs to collect, classify and process. That means 90% of plastic waste is thrown into the environment and exists for a very long time.
"I want to find new materials to replace plastic, especially plastic bags," Ms. Hanh said, explaining why Buyo Plastic was founded in 2022, focusing on developing technology to produce bioplastics of organic origin that can decompose in the natural environment.
Instead of using starch, organic residues are used to produce materials with properties similar to conventional plastic but are environmentally friendly. This is a new generation of bioplastics that not many companies in the world can do.
Ms. Ngoc said that bioplastics derived from starch can biodegrade in normal environments in a relatively short time, are environmentally friendly, and are safe for human health.
However, it consumes a lot of resources and energy to produce, which can affect food security. Meanwhile, bioplastics of organic origin have limited durability, strength, and relatively poor water and heat resistance.
"Therefore, bioplastics are not really popular in the market yet," Ms. Hanh analyzed.
Before starting her own business, Ms. Do Hong Hanh - CEO of Buyo Plastic, had worked as a manager in domestic and foreign companies and corporations - Photo: HC
Policy boost for new materials development
Buyo Plastic offers two technological solutions. One is to process food waste from food and beverage factories, mix it with other bio polymers to create composite materials and then produce packaging, bags, film, spoons, forks, pallets, bottle caps, etc.
The second is microbial fermentation, which cultivates bacteria by utilizing the remaining nutrients in food waste. This process creates a new material without the need for mixing, which can be applied in high-tech industries such as medicine.
Ms. Do Hong Hanh (CEO Buyo Plastic)
Policy leverage is extremely important for businesses to be able to compete with conventional plastics. Competing on its own will be very difficult because the scale of bioplastic businesses is still small.
However, CEO Do Hong Hanh said the biggest drawback is that the price of bioplastic is higher than that of petroleum-based plastic, and the same goes for Buyo Plastic's products.
"Regular plastics and petroleum plastics have been commercialized for hundreds of years, with global production scale. Meanwhile, the global bioplastic production scale is only about 1-2% of the plastic market, making it difficult to compete on cost with conventional plastics," said Ms. Hanh.
But bioplastics do benefit the environment. Consumers, especially new-generation consumers, are willing to pay a premium for these materials.
But for bioplastics to compete with conventional plastics, the Government and the State need to play a big role. Some countries have introduced policies to encourage new types of plastics, build technical barriers, and ban plastics.
The problem is that policies need to keep up with the development of new materials when the development is happening very quickly. Explaining, Ms. Hanh said that the recent information that has been noticed is towards completely eliminating plastic bags in supermarkets and most people immediately think of replacing them with paper bags.
Although it is an environmentally friendly material, if you use paper to package wet or hot food, you still need to coat it with a layer of plastic inside. So what is the difference between plastic packaging and paper on the outside?
"The policy-making process should involve exchanges and consultations between policy-making agencies and researchers to continuously update information, technological advances, and expand the definition of alternative plastic materials. Otherwise, even if plastic bags are banned, new materials will have little chance to participate," said Ms. Hanh.
Buyo Plastic's bioplastic factory in Cu Chi district (HCMC) - Photo: HC
It takes more companies like Buyo Plastic to meet the market.
According to Buyo Plastic CEO, the demand for new generation bioplastics like Buyo Plastic products is quite large. Buyo Plastic is prioritizing finding solutions to increase scale and improve production capacity to meet market demand. At the same time, it is improving technology and reducing costs to compete on price.
The company develops a B2B business model, working with many large companies and corporations, including food and beverage companies, to develop new generation bioplastic products.
"To meet all market demand, we need many companies like Buyo. But I see this demand from foreign markets is greater. Vietnam really needs a policy push to create a strong transformation," Ms. Hanh expressed her opinion.
Selecting 20 outstanding startups for the final round of Tuoi Tre Start-up Award 2024
Tuoi Tre Start-up Award 2024 is organized by Tuoi Tre newspaper and the Ho Chi Minh City Youth Union, in collaboration with the Business Startup Support Center (BSSC) and the Vietnam Packaging Recycling Alliance (PRO Vietnam).
The judging panel will contact and connect with startups through the special Coffee Talk judging format. Promising startups will be honored at the gala scheduled to be held in November 2024.
The top 20 startups selected for the final round will receive financial support from the following organizations: VinaCapital, ACB Bank, Volvo, KN Group, Dai-ichi Life Vietnam, An Hoa, Faslink, Ecco Golf Vietnam, Tin Nghia...
The special prize (100 million VND) from the program's advisory board is Mr. Pham Phu Ngoc Trai - Chairman of PRO Vietnam.
Source: https://tuoitre.vn/nhua-sinh-hoc-the-he-moi-cua-buyo-plastic-20241025001605037.htm
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