Biome Technologies PLC Biome's RF division gains traction
December 15 2020 - 01:00AM
RNS Non-Regulatory
TIDMBIOM
Biome Technologies PLC
15 December 2020
15 December 2020
Biome Technologies plc
("Biome", the "Group" or the "Company")
Biome's RF division gains traction in new application areas
Biome's Stanelco RF Technologies ("RF") division
(www.stanelcorftechnologies.com) has signed three contracts, with
an aggregate revenue of GBP117k, that will provide RF process
heating solutions and equipment to customers in diversified
industrial applications.
The contracts, with two new and one previous customer from the
aerospace and medical sectors, provide a further positive
indication that small capital goods purchases are being made by
specific sectors of UK industry and that the division's efforts to
grow a diversified revenue stream - beyond its traditional fibre
optic cable market - are producing tangible results.
The revenues from these contracts will be realised across the
remainder of 2020 and during 2021 and do not impact on the Board's
expectation for 2020, during which orders from the fibre optic
market have been subdued.
Paul Mines, Biome Technologies' Chief Executive commented:
"These orders provide some encouragement that we are making
positive progress in RF's strategic aim of diversifying its revenue
streams."
-Ends-
For further information please contact: Biome Technologies
plc
Paul Mines, Chief Executive Officer
Donna Simpson-Strange, Company Secretary
info@biometechnologiesplc.co.uk
Tel: +44 (0) 2380 867 100
www.biometechnologiesplc.com
Allenby Capital
David Hart/Alex Brearley (Nominated Adviser)
Kelly Gardiner (Equity Sales)
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 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
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END
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