Firm that Recycles Rice Waste-to-Fiberboard Files Bankruptcy

Date: October 7, 2021

Source: News Room

CalPlant, a firm that specializes in converting rice waste to fiberboard, has filed for bankruptcy after it defaulted on over $300 million in loans. The firm claims that after it opened in March of 2020, the pandemic introduced a myriad of problems that prevented it from operating at full capacity. The pandemic related problems compounded existing issues that are common with any start up business.

Many of the investors have agreed to hold off on collecting debts and some have helped finance the bankruptcy court costs. Bankruptcy would allow CalPlant to sell the facility. Because the facility is situated in the region south of Sacramento, CA that produces a fifth of the USA's rice, many believe it will be capable of producing large quantities of fiberboard and reduce the region's waste impact.

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