REG - Biome Technologies - Contract

Biome TechnologiesAnnouncement

16/12/2021 08:45

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20211216:nRSP8787Va&default-theme=true

RNS Number : 8787V  Biome Technologies PLC  16 December 2021

 

This announcement contains inside information for the purposes of Regulation
11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310. With the
publication of this announcement, this information is now considered to be in
the public domain.

16 December 2021

 

Biome Technologies plc

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

Substantial contract win for Stanelco RF Division

 

Biome Technologies plc, a leading bioplastics and radio frequency technology
business, is pleased to announce that its Stanelco RF Technologies
("Stanelco") division (www.stanelcorftechnologies.com
(https://stanelcorftechnologies.com) ) has been awarded a contract to the
value of £435,000 to supply two radio frequency heating systems to an
international medical corporation.

The contract underpins the Company's expectations for the Stanelco division's
revenues in the first half of 2022, when these systems will be designed,
built, and functionally tested by Stanelco before being commissioned in one of
the customer's UK sites.  Revenue stage payments will be received against
milestones in H1 2022.

Paul Mines, CEO, commented, "This new contract win in the medical space is a
significant achievement for the team and comes after the division's recent
contract of £247,000 for two fibre optic furnaces also for the first half of
2022. This new medical contract is reflective of the increase in enquiry
activity noted in previous announcements and is a substantial step in the
division's continued efforts to increase its range of applications beyond
fibre optics".

 

-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 (https://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)

 

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 (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  CNTGIBDDLXBDGBL