TIDMBIOM
Biome Technologies PLC
17 March 2021
REACH
17 March 2021
Biome Technologies plc
("Biome", the "Group" or the "Company")
Biome wins further funding for its biodegradable tree shelter
project
Biome's Bioplastics division ( www.biomebioplastics.com )
announces that it has secured GBP248,000 via a further funding
contract to complete the development phase and reach commercial
production of its biodegradable tree shelter project. This follows
the Company's successful completion of an initial feasibility study
to develop and test a new generation of biodegradable tree shelters
to be made from the Company's novel bioplastics.
This additional funding has come from the Government-backed
Innovate UK agency as part of the Sustainable Innovation Fund (SBRI
Phase 2) and will support a significant increase in project
activity and facilitate further extensive laboratory testing of
materials and UK-wide field trials with potential end-customers for
the novel biodegradable tree shelters.
In the UK, around 45 million trees are planted each year, most
of those using non-biodegradable tree shelters for protection, with
an estimated 2,500 tons of persistent plastics ending up annually
in the natural environment after use. Plans to significantly
increase tree planting as part of the UK's drive to mitigate
climate change will exacerbate these problems. This project aims to
curb such unnecessary levels of plastic pollution with a product
that biodegrades in-situ after use.
The project continues in close partnership with Suregreen, a
leading manufacturer of tree shelters, whose team has broad
experience in the manufacture and sales of such products. Suregreen
will involve its forestry customers in product assessment of the
biodegradable tree shelters.
Paul Mines, Biome Technologies' Chief Executive Officer,
commented:
"This additional funding will help accelerate both the
laboratory and 'real-world' testing of this exciting new product,
moving it a step closer to large scale commercialisation."
Investors can find more details on this project's scientific
approach and its future path to prospective commercialisation in a
short video on the Bioplastics division's website:
https://biomebioplastics.com/tree-shelter/ .
-Ends-
For further information please contact: Biome Technologies
plc
Paul Mines, Chief Executive Officer
Rob Smith, Chief Financial Officer
info@biometechnologiesplc.co.uk
Tel: +44 (0) 2380 867 100
www.biometechnologiesplc.com
Allenby Capital
David Hart/Alex Brearley (Nominated Adviser)
Kelly Gardiner (Sales and Corporate Broking)
Tel: +44 (0) 20 3328 5656
www.allenbycapital.com
About Biome
Biome Technologies plc is an AIM listed, growth-orientated,
commercially driven technology group. Our strategy is founded on
building market-leading positions based on patented technology and
serving international customers in valuable market sectors. We have
chosen to do this by developing products in application areas where
the value-added pricing can be justified and are not reliant on
government legislation. These products are driven by customer
requirements and are compatible with existing manufacturing
processes. They are market rather than technology-led.
The Group comprises two divisions, Biome Bioplastics Limited and
Stanelco RF Technologies Limited.
Biome Bioplastics is a leading developer of highly-functional,
bio-based and biodegradable plastics. The company's mission is to
produce bioplastics that challenge the dominance of oil-based
polymers.
Stanelco RF Technologies designs, builds and services advanced
radio frequency (RF) systems. Dielectric and induction heating
products are at the core of a product offering that ranges from
portable sealing devices to large furnaces for the fibre optics
markets.
www.biometechnologiesplc.com
www.biomebioplastics.com and www.thinkbioplastic.com
www.stanelcorftechnologies.com
About Innovate UK's Sustainable Innovation Fund
Innovate UK, as part of UK Research and Innovation, is investing
up to GBP191 million to fund single and collaborative research and
development projects as part of the Sustainable Innovation Fund
over the next two years. The aim of these competitions is to help
all sectors of the UK rebuild after the effects of COVID-19.
The Sustainable Innovation Fund is funding 1,090 projects,
almost 1200 UK businesses and totalling over GBP160 million in
support across the UK.
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