Biome Technologies PLC Order for compostable bioplastic for coffee pods
August 19 2020 - 1:00AM
RNS Non-Regulatory
TIDMBIOM
Biome Technologies PLC
19 August 2020
19 August 2020
Biome Technologies plc
("Biome", the "Group" or the "Company")
Biome Technologies plc Bioplastics division receives order for
compostable bioplastic for coffee pods
Biome announces that its Bioplastics division (
www.biomebioplastics.com ) has received an order worth US$550,000
from an existing major client operating in the United States
packaging market. This order, which provides support for the
division's financial expectations for this year, is the largest
single order to date for Biome's heat-stable and compostable
bioplastic for coffee pod applications, which was first
commercialised in 2019. Deliveries under this order are due to be
completed in the next two months.
This new material takes less than three months to compost in
industrial composting environments and is designed to provide the
structure for coffee pods, whilst preventing deformation when
exposed to hot water brewing conditions. It was developed in the
division's R&D facility in Southampton, UK and is now being
manufactured in the United States on a regular production basis in
commercial quantities.
Paul Mines, CEO of Biome Technologies plc, commented:
"We believe that there is significant commercial potential for
this coffee pod material, as brands in the hot beverage sector move
to bio-based and compostable solutions to transform the
sustainability of their products."
-Ends-
For further information please contact: Biome Technologies
plc
Paul Mines, Chief Executive Officer
Donna Simpson-Strange, Company Secretary
www.biometechnologiesplc.com Tel: +44 (0) 2380 867 100
Allenby Capital
David Hart/Alex Brearley (Nominated Adviser)
Kelly Gardiner (Broker)
www.allenbycapital.com Tel: +44 (0) 20 3328 5656
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 that 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
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
NRABCGDIXUBDGGI
(END) Dow Jones Newswires
August 19, 2020 02:00 ET (06:00 GMT)
Biome Technologies (LSE:BIOM)
Historical Stock Chart
From Mar 2024 to Apr 2024
Biome Technologies (LSE:BIOM)
Historical Stock Chart
From Apr 2023 to Apr 2024