REG - Symphony Environment - AGM Statement

Symphony Environmental TechnologiesAnnouncement

28/06/2024 07:00

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RNS Number : 0069U  Symphony Environmental Tech. PLC  28 June 2024

 

28 June 2024

 

SYMPHONY ENVIRONMENTAL TECHNOLOGIES PLC

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

 

AGM Statement

 

Symphony Environmental Technologies Plc (AIM:SYM), the global specialists in
technologies that make plastic and rubber products smarter, safer and more
sustainable, is pleased to provide the following update prior to its Annual
General Meeting ("AGM") to be held today at 11.00 am.

 

At the AGM Nicolas Clavel, Chairman of Symphony, will make the following
statement:

 

I am pleased to report that trading continues in line with our recent
statements.

The Group is focused on accelerating the commercialisation of several projects
whilst refining costs.

I would like to re-emphasise that many of these opportunities are significant
and with continuing positive conversations, trials and other factors, the
Board have confidence that these will be converted in the short to medium
term. The 2024 outlook, and beyond, is showing a positive commercial position
for the Group and pleasingly is across all of our main d2w and d2p technology
offerings.

In summary therefore, having recently raised equity to strengthen the balance
sheet and with positive progress being made with our host of pipeline
projects, the Board look to the future with optimism.

 

Enquiries

 

 Symphony Environmental Technologies Plc
 Michael Laurier, CEO                                                   Tel: +44 (0) 20 8207 5900
 Ian Bristow, CFO
 www.symphonyenvironmental.com (http://www.symphonyenvironmental.com/)
 Zeus (Nominated Adviser and Broker)
 David Foreman / Alexandra Campbell-Harris (Investment Banking)         Tel: +44 (0) 203 829 5000
 Dominic King (Corporate Broking)

 

NOTES TO EDITORS:

 

About Symphony Environmental Technologies plc

www.symphonyenvironmental.com (http://www.symphonyenvironmental.com)

 

d2w TECHNOLOGY

Symphony has developed a biodegradable plastic technology which addresses the
problem of persistent microplastics, by turning ordinary plastic at the end of
its service-life into a waxy substance which is biodegradable. It is then no
longer a plastic and can be bioassimilated in the open environment in a
similar way to a leaf without leaving microplastics behind. See
https://www.symphonyenvironmental.com/why-biodegradable/
(https://www.symphonyenvironmental.com/why-biodegradable/) The technology is
branded d2w® and appears as a droplet logo on many thousands of tonnes of
plastic packaging and other plastic products around the world, much of which
has been recycled. In some countries, oxo-biodegradable plastic is mandatory
for short-life plastic products.

d2w technology was studied for three years in the Oxomar project, sponsored by
the French government, which concluded that plastic made with Symphony's d2w
oxo-biodegradable technology will biodegrade in seawater significantly more
efficiently than conventional plastic. See
www.biodeg.org/subjects-of-interest/agriculture-and-horticulture/the-marine-environment/
(http://www.biodeg.org/subjects-of-interest/agriculture-and-horticulture/the-marine-environment/)
 

Following this report, the scientists allowed bacteria commonly found in the
open environment access to d2w oxo-biodegradable plastic containing Carbon
13.  They found Carbon 13 in the carbon dioxide exhaled by the bacteria,
proving beyond doubt that the plastic had been bioassimilated by the bacteria.

d2p TECHNOLOGY

Symphony has developed a range of additives, concentrates and master-batches
marketed under its d2p® ("designed to protect") trademark, which can be
incorporated in a wide variety of plastic and non-plastic products so as to
provide protection against many different types of bacteria, viruses, fungi,
algae, moulds, and insects, and against fire. See www.d2p.net
(http://www.d2p.net) d2p products also include odour, moisture and ethylene
adsorbers as well as other types of food-preserving technologies. For an
overview see www.d2p.net (http://www.d2p.net)    Symphony has launched d2p
anti-microbial household gloves and toothbrushes and "Symfresh" food-packaging
and is developing a range of other d2p finished-products for retail sale.

d2c TECHNOLOGY

Symphony has complemented its d2w and d2p product ranges with d2c "compostable
resins and products" that have been tested to US and EU composting standards
and has invested in Eranova - a French company extracting starch for making
plastics out of algae.

d2DETECTOR

Symphony has also developed the d2Detector®, a portable device which analyses
plastics and detects counterfeit products.  This is useful for government
officials tasked with enforcing legislation, and Symphony's d2t tagging and
tracer technology is available for further security.

SYMPHONY'S BUSINESS

Symphony has a diverse and growing customer-base and has established itself as
an international business with over 70 distributors around the world. Products
made with Symphony's plastic technologies are now available in nearly 100
countries and in many different product applications. Symphony itself is
accredited to ISO9001 and ISO14001.

Symphony is a founder-member of The BPA (www.biodeg.org) and actively
participates in the Committee work of the British Standards Institute (BSI),
the American Standards Organisation (ASTM), the European Standards
Organisation (CEN), and the International Standards Organisation (ISO).

Further information on the Group can be found at www.symphonyenvironmental.com
and twitter @SymphonyEnv   See also Symphony on Instagram. A Symphony App is
available for downloading to smartphones.

 

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