15
March 2024
Biome Technologies
plc
("Biome", the "Company" or
the "Group")
Contract win for Stanelco RF
Division
Biome Technologies plc, a leading
bioplastics and radio frequency technology business, is pleased to
announce that its RF Technologies division
(www.stanelcorftechnologies.com)
has been awarded a further contract win. The contract has a
revenue value of £536,000 to supply two radio frequency welding
systems (the "Systems") for use by an international corporation in
the medical supply sector.
The Systems will use a modular
machine platform which integrates automation and RF welding. They
will be built and tested at the Company's Marchwood, UK, facility
and subsequently combined with other production line equipment
supplied by the end-customer's chosen contractor before final
installation in a UK facility. Completion of the Systems is
scheduled within the 2024 financial year, with stage payments being
received against milestones during the contract.
This contract is one of the
opportunities for the RF Technologies Division indicated in our 11
March 2024 announcement and will contribute towards our Group
expectations for 2024.
Paul Mines, CEO, commented, "This
important order results from the division's ongoing strategy of
diversification beyond its traditional strength into new high-value
medical market areas. The division continues to work on further
potential opportunities and we remain confident in bringing another
of these opportunities to a similar conclusion in the coming
months."
-Ends-
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For
further information please contact:
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Biome Technologies plc
Paul Mines, Chief Executive
Officer
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Rob Smith, Chief Financial
Officer
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www.biometechnologiesplc.com
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Tel: +44 (0) 2380 867 100
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Allenby Capital
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David Hart/Alex Brearley (Nominated
Adviser)
Kelly Gardiner/Tony Quirke (Sales
and Corporate Broking)
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www.allenbycapital.com
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Tel: +44 (0) 20 3328 5656
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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 and RF Technologies.
Biome Bioplastics is a leading
developer of highly-functional, bio-based and biodegradable
plastics. The division's mission is to produce bioplastics that
challenge the dominance of oil- based polymers.
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