Papyrus’ commercialisation strategy is to license its technology to suitable entities that will establish banana veneer and banana fibre production factories in locations where banana is grown.
To prove its technology and validate the commercial values of banana veneer and fibre products, Papyrus established in April 2009 a showcase processing plant in Walkamin, Far North Queensland, in Australia. The factory produces veneer and chips to be converted into particleboard and other alternatives to wood-based panels. Wood-based panels include veneer sheets, hardboard (HDF), MDF, fibre board, insulating board and particle board (chip board).
In November 2009, Papyrus signed a distribution agreement for its fibreboard and veneer products with European veneer company Tout Bois.