REG - Biome Technologies - Funding Award <Origin Href="QuoteRef">BIOM.L</Origin>

Biome TechnologiesAnnouncement

19/02/2015 15:31

RNS Number : 3976F
Biome Technologies PLC
19 February 2015
19 February 2015
Biome Technologies plc
("Biome", "the Company" or "the Group")
Biome Technologies awarded grant funding in Industrial Biotechnology Catalyst competition
Business Secretary Vince Cable has announced the winners of a 40m pound competition designed to bring innovative UK industrial biotechnology projects to market.
The list of winners includes a consortium led by Biome Technologies in partnership with the University of Warwick, the University of Leeds and the Centre for Process Innovation (together "the Consortium"). The Consortium will undertake a three year project entitled "Bioplastic polymers based on aromatic dicarboxylic acids derived from lignin". The project will build on the Biome's previous successful research into deriving organic chemicals from lignin for the manufacture of bioplastics.
With a total project cost of 1.7m, Biome will contribute 0.2m of resources toward the project. The funding is available through the Industrial Biotechnology Catalyst, which provides funds to support application-focused, integrated cross-disciplinary research projects involving collaborations between the academic and business communities.
The development follows the Group's recent announcement reporting that substantial progress has been made towards obtaining further grant support from Innovate UK and that finalisation of a new grant was expected in the near future.
Further information can be found on the website of the Company's bioplastic division at http://www.biomebioplastics.com/.
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For further information please contact:
Biome Technologies plc

Paul Mines, Chief Executive Officer

Declan Brown, Group Finance Director

www.biometechnologiesplc.com 
Tel: +44 (0) 2380 867 100
Allenby Capital

David Hart (Nomad)
Chris Crawford/Kelly Gardiner (Broker)

www.allenbycapital.com
Tel: +44 (0) 20 3002 2070
FTI Consulting

Oliver Winters
www.fticonsulting.com
Tel: +44 (0) 20 3727 1535

This information is provided by RNS
The company news service from the London Stock Exchange
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