EarthShell Shares Jump 90% After It Says McDonald’s OKd Its Container
Shares of EarthShell Corp. jumped 90% after the company said fast-food giant McDonald’s Corp. approved EarthShell’s design for a biodegradable clamshell container for the Big Mac hamburger.
EarthShell surged $1.19 to close at $2.50 on Nasdaq.
McDonald’s did not confirm the announcement. But the company has been testing the EarthShell containers--made from a combination of limestone, potato starch and recycled milk carton fibers--in 128 restaurants in the Chicago area.
Santa Barbara-based EarthShell said McDonald’s earlier this week “reiterated its intent to use the product in the U.S. system based on continuing performance against expectations.”
EarthShell has licensed the technology to Sweetheart Cup Co.
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