REG - Biome Technologies - Grant funding from Innovate UK

Biome TechnologiesAnnouncement

05/09/2022 07:00

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RNS Number : 1876Y  Biome Technologies PLC  05 September 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.

 

5 September 2022

 

 

Biome Technologies plc

 

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

 

Biome receives £244k grant to improve performance of bioplastic food
packaging

 

Biome, a leading bioplastics and radio frequency technology business,
announces that its Bioplastics division (www.biomebioplastics.com
(http://www.biomebioplastics.com) ) has been awarded funding of £244,000 from
the UK Government's Innovate UK to support a collaborative development project
with ANPOLY Inc (www.anpolyinc.com (http://www.anpolyinc.com) ) of South Korea
to improve shelf life performance of food packaging made from Biome's
bioplastics.

 

ANPOLY Inc (www.anpolyinc.com (http://www.anpolyinc.com) ) is a spin out from
Korean university, POSTECH (international.postech.ac.kr
(http://international.postech.ac.kr) ) with advanced technology to produce
bespoke cellulose nano-fibres. This project, which will have a total
investment of £794,000, will start in October 2022 and is expected to last
two years.

 

As brands seek to adopt bioplastics, there is an increasing demand for
materials with longer shelf-life to reduce food waste. Such improved
performance currently requires the use of fossil-based additives, whereas
cellulose nano fibres can offer similar performance with sustainable
credentials. The project will bring together Biome's portfolio of bioplastic
products and market knowledge with ANOPOLY's novel additives.

 

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

 

Paul Mines, Biome Technologies' Chief Executive commented:

 

"This latest development project is an important enabling step in
understanding the functionality of a combination of Biome's most exciting
products with cutting edge additive and technologies coming through from
ANPOLY. We believe these could represent an important addition to the
business's product range in due course and will bring benefits to
manufacturers, consumers and the environment."

 

 

-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)

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