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Cardia shares soar 31% on KFC deal

Cardia shares soar 31% on KFC deal

Shares in environmental technology company Cardia Bioplastics (ASX:CNN) jumped 31.5%, after the company announced that fast food chain KFC has become Cardia’s first customer for its compostable plastic bags.

KFC will replace its non-compostable plastic bags with Cardia’s solution, the company said.

The bags meet Australia’s compostable plastics standard, and will allow KFC to comply with South Australia’s ban on non-compostable plastic bags.

CNN stock is currently trading at $0.025.

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