Ann: First Shipment of Microbial Cellulose Dispatched to Birla, page-11

They used to make it in Indonesia, then shifted to primarily coconut waste in China I believe. In the long run they would source organic waste proximate to the fibre manufacturer location to improve efficiency from memory. Think it was in one of the presentations, but that would be the most logical.

What I really like about this stock is that they can scale up targetting different pricing points along the way, so should reach profitability quite early on once they get the final trials out of the way. It's not far off in the scheme of things, and given market potential and current MC of under $15m there is significant room for multiples. Add in the fact that Lyocell is both greener and stronger than the competition, and finer than silk, it's really hard to see anything other than success on the horizon.