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Biome TechnologiesAnnouncement

23/03/2021 07:00

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RNS Number : 1013T  Biome Technologies PLC  23 March 2021

This announcement contains inside information for the purposes of Regulation
11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310.

 

23 March 2021

 

Biome Technologies plc

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

Contract secured to accelerate US sales of coffee-pod filtration material

 

Biome Technologies plc, a leading bioplastics and radio frequency technology
business, is pleased to announce that it has secured the anticipated
contractual commitment with a second US end-customer to accelerate the
commercialisation of its proprietary compostable filtration material. This
important customer's business will support a significant portion of the
Group's expected revenue growth in 2021 and beyond.

In the Company's circular to shareholders at the time of its fundraising last
September, Biome identified this project as the most important growth driver
for 2021 in support of its ambitious KPIs. In the subsequent trading update on
29 October 2020, it was further stated that the implementation was moving
forward assuredly and initial orders were expected later in Q4 2020. These
initial orders enabled the customer to test Biome's material extensively in
the production environment, such production being enabled by supplementary
equipment provided by the Group's Stanelco RF Technologies division ("RF
Technologies"). This testing has proven successful and commercial production
for consumer use began in Q1 2021.

This end-customer has now ordered further equipment, with a value US$70k and
to be made by RF Technologies, that will help to unlock the use of Biome's
compostable filtration material on a significant portion of the customer's
installed capacity. It is anticipated that this will lead to significant
additional revenues for the Group Bioplastics division during 2021.

This important customer commitment, and the commercial progress described,
supports the Board's expectations of the continued rapid growth of the
Bioplastics division and the current market expectations for the Group.

The Group is due to announce results for the year ended 31 December 2020 on
Thursday, 25 March 2021.

-Ends-

 

For further information please contact: Biome Technologies plc

Paul Mines, Chief Executive Officer

Rob Smith, Chief Financial Officer

info@biometechnologiesplc.co.uk (mailto:info@biometechnologiesplc.co.uk)

Tel: +44 (0) 2380 867 100

www.biometechnologiesplc.com
(file:///C:/Users/paul/Dropbox/Biome/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 (http://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 (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)

 

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