REG - Biome Technologies - Biome receives £282k grant

Biome TechnologiesAnnouncement

16/11/2022 07:00

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RNS Number : 5289G  Biome Technologies PLC  16 November 2022

The information contained within this announcement is deemed by the Company to
constitute inside information for the purposes of Regulation 11 of the Market
Abuse (Amendment) (EU Exit) Regulations 2019/310.

 

16 November 2022

 

Biome Technologies plc

 

("Biome", "the Company" or "the Group")

 

Biome receives £282k grant to scale-up novel biopolymers

 

Biome announces that its Bioplastics division (www.biomebioplastics.com
(http://www.biomebioplastics.com) ) has been awarded £282,000 in funding from
Innovate UK, the UK Government's innovation agency, to support the scale-up of
novel compostable biopolymers for the flexible packaging and coatings
industries in collaboration with Thomas Swan (www.thomas-swan.co.uk
(https://thomas-swan.co.uk/) ) and the University of Nottingham. The project
has a total investment of £474,000 and is expected to last 18 months.

Over the last nine years, Biome has undertaken considerable research and
development work on a range of biodegradable polymers, based on bio-based
inputs. This work has involved seven universities and around 30 leading
scientists and engineers. All the resultant polymers are subject to patent
protection or patent application. Before this new Innovate UK grant, these
novel polymers have only been scaled successfully from laboratory test-tube to
small kilogram quantities on pilot plant equipment.

 

The new funding for this project will scale up one of these promising polymers
to quantities of hundreds of kilograms on Thomas Swan's industrial-scale
assets. This selected polymer is based on furan dicarboxylic acid (FDCA), an
important new bio-based chemical. Such production will allow the performance
and production process of this polymer to be evaluated at a commercially
relevant scale.

 

Thomas Swan is a leading independent manufacturer of performance and fine
chemicals (https://en.wikipedia.org/wiki/Fine_chemical) with offices in the
United States and China and a global network of distributors. The company
manufactures over 100 products, from kilogram to multi-tonne quantities, and
offers an experienced and flexible custom manufacturing service. Thomas Swan
has collaborated with Biome's development for the last few years and is
well-placed to support this specific project and ultimately manufacture
Biome's novel FDCA based polymers at a commercial scale.

 

The University of Nottingham has worked with Biome for the past five years.
Its contribution to this project will be led by Derek Irvine, Professor of
Materials Chemistry at the institution's Faculty of Engineering. His team will
support the technology transfer from the laboratory to Thomas Swan and work on
further enhancements to the FDCA-derived polymer.

 

This work forms part of Biome's approach to providing highly functional
added-value products to the market. It is envisaged that products derived from
this collaboration will be commercialised after project completion.

 

Paul Mines, Biome Technologies' Chief Executive, commented:

 

"After nine years of significant work by Biome's scientists, engineers and
supporting partners, it is great to be taking a substantial step towards
industrialisation in bringing these FDCA-based polymers to the market. Thomas
Swan and the University of Nottingham are great partners to support us on our
journey to commercialise this new generation of bio-based and compostable
polymers."

 

Harry Swan, Thomas Swan's Chief Executive and Owner, added:

 

"This is an excellent project that will see the acceleration of an important
new sustainable product for Biome. It also sits well with Thomas Swan's own
mission to inspire and deliver sustainable chemistry. Innovate UK grants are
not easy to secure which lends great credibility to the technology and its
potential. I look forward to seeing this exciting project progress with our
partners, Biome and the University of Nottingham."

 

-Ends-

 For further information please contact: Biome Technologies plc

 Paul Mines, Chief Executive Officer
 Rob Smith, Chief Financial Officer
 www.biometechnologiesplc.com  Tel: +44 (0) 2380 867 100

 Allenby Capital
 David Hart/Alex Brearley (Nominated Adviser)

 Kelly Gardiner (Sales and Corporate Broking)
 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 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 ("Bioplastic")
and Stanelco RF Technologies Limited ("RF Technologies").

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 (http://www.biometechnologiesplc.com)
www.biomebioplastics.com (http://www.biomebioplastics.com) and
www.thinkbioplastic.com (http://www.thinkbioplastic.com)
www.stanelcorftechnologies.com (http://www.stanelcorftechnologies.com)

 

About Thomas Swan

Thomas Swan & Co. Ltd. is an independent chemical manufacturing company.
With offices and warehousing in the UK, USA and China and a global network of
distributors, they service the domestic and international markets and export
to over 80 countries worldwide.

Founded in 1926 in Consett, in the North East of England - still home to their
manufacturing facilities - Thomas Swan today produces over 100 products, in
kilogramme to multi-tonne quantities, and offers an experienced and flexible
manufacturing service.

www.thomas-swan.co.uk (https://thomas-swan.co.uk/)

 

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