REG - Biome Technologies - Contract win for Stanelco RF Division

Biome TechnologiesAnnouncement

15/03/2024 07:00

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RNS Number : 9503G  Biome Technologies PLC  15 March 2024

 

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 (http://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-

 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/Tony Quirke (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 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 (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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