Can coconut waste replace plastic-foam coolers?

The Philippines is the second-largest producer of coconuts in the world. An estimated 9 billion husks are burned or left to rot here every year. Fortuna Cools makes coolers out of that waste instead of the commonly used expanded polystyrene foam, often incorrectly called styrofoam. We make more than 14 million tons of this hard-to-recycle plastic every year.