REG - Symphony Environment - Interim results
14/09/2020 07:00
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RNS Number : 8188Y Symphony Environmental Tech. PLC 14 September 2020
The information communicated within this announcement is deemed to constitute
inside information as stipulated under the Market Abuse Regulations (EU) No.
596/2014. Upon the publication of this announcement, this information is
considered to be in the public domain
14 September 2020
SYMPHONY ENVIRONMENTAL TECHNOLOGIES PLC
("Symphony", the "Company" or the "Group")
Interim Results
&
Publication of Coronavirus Report
Symphony Environmental Technologies Plc (AIM: SYM), a global specialist in
technologies to enhance the properties of plastic and some non-plastic
products by making them biodegradable, and/or to provide protection against
threats to health and safety, is pleased to announce its interim financial
results for the six-month period ended 30 June 2020.
Financial highlights
· Revenues increased to £4.8 million (H1-2019: £4.1 million)
· Gross profit increased to £2.2 million (H1-2019: £2.0 million)
· Reported profit before tax of £18,000 (H1-2019: loss £86,000)
· Basic earnings per share of 0.01 pence (H1-2019: loss per share
of 0.05 pence)
Business highlights - Period and Post-Period
d2p "Designed to Protect" Technologies & Finished Products
· FDA approved Symphony's antibacterial d2p bread packaging -
customer trials progressing well
· Personal Protective Equipment ("PPE") orders of approximately
£1.0 million
· Positive Bovine Coronavirus test report from Eurofins Biolab,
Italy
· d2p anti-microbial pipeline in excess of 100 active projects
d2w Oxo-biodegradable Technology
· Positive indications from legislators and opinion-formers in some
markets for d2w type biodegradable plastics
· Some single-use plastic bans suspended
· Saudi Arabia added further oxo-biodegradable products to its
enforcement programme
· Queen Mary University further evidenced biodegradation in soil
and marine environments
· Study funded by French government proved d2w plastics biodegrade
in marine environment
Eranova
· Amended terms for participation in the Eranova Green Algae
project agreed (with exclusive distribution rights) - completion expected
shortly
Commenting on the results Nicolas Clavel, Interim Chairman of Symphony, said:
I am pleased to report total revenues for the six months ended 30 June 2020
increased 17% to £4.8 million (H1-19: £4.1 million) and a return to
profitability. As advised in July, some of Symphony's main distributors
experienced severe COVID-19 lockdowns which delayed growth in those countries
during the second half of this reported period. In this context, we are
pleased with the Group's like-for-like revenue growth during the first half of
2020.
Focusing first on Symphony's d2p "designed to protect" technologies, the Group
has now developed a comprehensive suite of active formulations, from
anti-microbial, to anti-odour and antibacterial protections. We are extremely
optimistic as to the commercial need for these products, but it is both right
and necessary that we obtained the necessary regulatory approvals and
scientific evidence validating the performance of these technologies. In
this regard, a number of very significant milestones have been achieved:
In February, the US Food & Drug Administration ("FDA") approved one of
Symphony's d2p technologies for use in bread packaging. Since the FDA
approval, the Group has continued to work on evaluation trials with customers
as well as independently, the results of which are expected over the coming
six months.
The Group has also invested in and developed several other types of d2p
products for use in food and non-food packaging and products, including active
formulations that are approved for their respective applications in the
European Union. Many of these d2p formulations have shown good test results
and are currently undergoing customer trials in several countries.
Since the period end, the Group has received positive Bovine Coronavirus test
results on the Group's d2p antimicrobial technology. The full test report has
now been received and has therefore enabled our distributors and sales teams
to move forward on this with their customers, both existing and new.
Symphony's d2p products and technologies cover many applications including
PPE, food packaging and water and irrigation piping. Unsurprisingly, given
COVID-19, enquiries have increased significantly for antimicrobial d2p in PPE
and other products and as previously reported, we expect to deliver
approximately £1.0 million of such products in the second half of the year.
In terms of the Group's d2w oxo-biodegradable technologies, Symphony has, and
is, campaigning in a number of countries at what the Board perceive to be a
key juncture in the history of environmental policy making. COVID-19 has
reinforced the view that simply banning certain plastics, particularly
single-use plastics is inconsistent with societal and economic needs and we
have seen some bans being suspended. Symphony's campaigns have focused on the
markets where the Group is most active, and the Board is cautiously
optimistic that (outside of the EU) legislators and opinion-formers
(particularly in Central and South America) will take meaningful steps towards
further encouraging the use of Symphony's type of biodegradable technology
over the next 12 months.
The Board is confident that the Group is in a strong position, and is, with
its suite of highly relevant technologies, well placed in the current
environment to deliver meaningful revenue growth.
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 Capital Limited (Nominated Adviser and Joint Broker)
David Foreman / Nick Cowles / Kieran Russell (Corporate Finance) Tel: +44 (0) 161 831 1512
Dominic King / Victoria Ayton (Sales) Tel: +44 (0) 203 829 5000
Hybridan LLP (Joint Broker)
Claire Louise Noyce Tel: +44 (0) 203 764 2341
The person responsible for arranging the release of this information is
Michael Laurier, CEO of the Company.
Chief Executive's review
We are pleased to report that revenues increased by 17% during the first half
of the year to £4.8 million (H1-19: £4.1 million), resulting in a profit of
£18,000 compared with a loss of £86,000 in H1-2019. Despite COVID-19,
Symphony has continued to invest in product development, regulatory advice and
government lobbying (both at the EU and non-EU), together with technical
support at levels broadly comparable with the first half of 2019.
d2p "Designed to Protect"
This product range comprises many different formulations and product types
that cover numerous applications (see www.d2p.net) and this update just
focuses on the most recent d2pAM antimicrobial developments.
Symphony's d2p antibacterial technology was approved by the US FDA for bread
packaging in February, and in July we were informed that independent test
results had shown that a d2p treated plastic product achieved a virus
reduction of 99.8% within 24 hours against the bovine form of Coronavirus.
This scientific breakthrough was reported by The Times on 24 July 2020.
We believe that this technology can help with the fight against Coronavirus as
it can be applied to a vast range of day-to-day items such as credit cards,
banknotes, worktops, door-handles, shopping bags and packaging as well as
water pipes and air conditioning pipes. Such products, if intended for
short-term use, can be further enhanced by making them fully biodegradable in
case they are littered in the open environment, having escaped the waste
collection systems. The Group currently has in excess of 100 active d2pAM
antimicrobial customer projects.
Our d2p treated and non-treated PPE products order book is strong, with an EU
delivery program running into 2021, combined with a high level of anticipated
ongoing demand.
Coronavirus test & results
Our global customers and distributors had been waiting for the full report on
the Coronavirus tests by Eurofins Biolab, Italy. This was issued on 27 August
2020 and the customer-led process for evaluation and purchasing of additives
and products has now accelerated.
The laboratory reported that the virus used for the test was the Bovine
Coronavirus BCoV, Strain S379 Riems, and the host cells on which the virus was
tested are human tissue -(HRT-18) cells. BCoV is a Coronavirus virus surrogate
closely related to the SARS viruses (SARS-CoV and SARS-CoV-2) and COVID-19 as
it belongs to the same beta Coronavirus genus and showed similar
susceptibility to World Health Organisation formulations in published studies.
The conclusions of the test are extremely positive for Symphony: "The
antiviral treatment causes a good viral reduction in accordance with the ISO
Standard 21702 requirement of 24 hours contact time and the treated surface
does not have any cytotoxic effect on the host cell line".
Further laboratory trials are ongoing to ascertain performance using different
formulations, product types, exposure times, and applications.
d2w Oxo-biodegradable
The global market for d2w biodegradable plastic technology continues to see a
"tug of war" game with legislators and users that are clearly misguided or
confused on what to do about the serious issue of plastic litter. This issue
has become acute as a result of the COVID-19 pandemic, which has caused much
greater use of single-use plastics, and in particular, items such as face
masks and gloves, which are now beginning to wash up on beaches and in other
unwanted places.
We are continually having to address issues that are politically or
commercially motivated, and not scientifically based. Our d2w biodegradable
plastic technology is proven and supported by more than four decades of
independent studies, and has been confirmed this year by Queen Mary University
in the UK and LOMIC in France.
We have for many years had to compete with plastic marketed as "compostable"
even though our product is designed for a quite different purpose. It is
designed to address the problem of litter, by biodegrading in the open
environment, and does not need to be taken to an industrial composting
facility. We still encounter governments and end users believing that a
"compostable" product, that meets EU or US composting standards will
biodegrade in the open environment or home composting, when it has actually
been tested according to those standards to biodegrade in an industrial
composting facility. Many also believe that it will convert into compost, when
in fact it is required by those same standards to convert almost entirely into
CO2.
The EU's "Single Use Plastics" Directive adds to the confusion as it requires
EU members to ban oxo-degradable products that do not properly biodegrade and
are not recyclable with ordinary plastics. We continue to explain the
difference between oxo-degradable and oxo-biodegradable plastic, and we
believe that Symphony's d2w technology would achieve considerably better
traction both within the EU and outside Europe if we could resolve this
confusion.
Despite these challenging headwinds, the Group has gained positive traction
across many markets outside of the EU, as d2w technology offers superior
value, with no supply or product quality disruption, low cost and the lowest
life-cycle impact.
The scientific evidence for oxo-biodegradable plastics was first published in
the 1970's and continues to evolve, with the publication of a scientific paper
by Queen Mary University in February 2020, that showed that plastic products
upgraded with d2w biodegraded up to 90 times faster than conventional
plastics. The most recent evidence is a summary of work as at September 2020
at the CNRS, Laboratoire d'Oceanographie Microbienne, France. This confirmed
that plastics treated with d2w biodegraded in sea water and did so at
significantly higher levels of efficiency than conventional plastics, with no
toxic effects. The project-team has published six scientific papers since 2017
in relation to their studies of plastics in the oceans.
As previously reported, our d2w sales are mainly outside the EU and cover more
than 60 countries. The Middle East and South and Central America are the most
active, but our Far-East sales, which currently represent less than 10% of our
overall sales, have substantially increased over the last 12 months. Part of
this is driven by demand from the Middle East, and China as a result of bans
that will come into force in major cities from next year of non-degradable
plastic bags for use in supermarkets, shopping centres and food delivery
services. These bans include, non-degradable single use plastic straws,
plastic cotton buds and foam plastic table disposable dinnerware. China is
reported to be one of the world's largest consumers of plastics, with 9.4
million tonnes consumed in 2018 and with forecast usage increasing to 41.3
million tonnes by 2025.
As previously advised, in Saudi Arabia the current enforcement programme is
progressing, and now includes three new products; woven plastic bags,
disposable tableware, and seedling bags. This is in addition to shopping and
garbage bags, clothes bags and table covers.
Eranova
Eranova SAS ("Eranova") has developed a technology which extracts starch from
marine algae/seaweed (a natural waste product) for use with other materials.
This is a massive uncontrolled resource, polluting beaches and the sea. It is
a major environmental concern for maritime cities and states and needs
constant clearance.
The extracted starch can be combined with polymers to produce compound resins
which are compostable and biodegradable and can be used to manufacture a wide
range of bioplastic products. In addition, the technology can be developed to
produce biofuel, biopolymers, proteins for food and animal feed, as well as
by-products for the pharmaceutical and cosmetic industries. This is in line
with the EU Bioeconomy Strategy to produce renewable biological resources from
land and sea and to convert these into value-added products.
Following the original collaboration agreement between Symphony and Eranova in
2018, Symphony introduced the project to Indorama Corporation ("Indorama").
Pursuant to a current funding round for Eranova, the collaboration agreement
has been amended, with Indorama acting as lead-investor and making an
investment of €1.0 million. Symphony's financial exposure has reduced from
an originally proposed investment of €0.5 million to €0.1 million.
Symphony's fully diluted interest in Eranova will now be 1.6%. Symphony will
no longer have the option to subscribe for up to 51% of the enlarged capital
of Eranova but will have exclusive distribution rights for certain
territories.
This investment enables the development of the Eranova project to be
accelerated. Pre-industrial development is expected to start during this year
with the construction of long seawater tanks, called "raceways" on land
provided by the Port of Marseilles, where Eranova will optimise cultivation of
algae for the production of the starch extract.
The key benefits of the technology are:
· Carbon capture during the production process
· Uses a natural, renewable, waste product
· A non-food-based resource (compared with corn or potatoes)
· Higher yields per hectare due to the fast growing-rate of marine
algae compared to food-crops
· Good mechanical properties and competitive cost
· Potential new markets for by-products of the technology
This funding round for Eranova is due to be completed shortly.
Financial results
Group revenue increased by 17% to £4.8 million compared to £4.1million for
the first half of 2019. This was due to growth of d2w sales within our main
markets. The gross margin during the period was 45.4% (H1-2019: 49.4%) due to
the primarily increased direct costs relating to production for our Middle
East market.
We continued our investment into product development, government relations,
and marketing and technical support during the period. Administrative expenses
increased slightly to £1.96 million (H1-2019: £1.91 million).
Due to the increase in revenues, the Group made a small operating profit of
£40,000 (H1-2019: loss £39,000), and a profit before tax of £18,000
(H1-2019: loss £86,000). The profit after tax was £18,000 (H1-2019: loss
£86,000).
The earnings per share for the period was 0.01 pence (H1-2019: loss per share
of 0.05 pence).
Balance sheet and cashflow
The Group had net cash of £0.29 million at the end of the period (31 December
2019: net cash of £0.88 million).
Net cash of £0.62 million was used in operations (H1-2019: £0.23 million)
due to increases in receivables and inventory. Extended time to pay has been
granted to some debtors due to COVID-19, and increased inventory has been held
against any potential COVID-19 supply chain issues.
The Group has an invoice discounting facility of £1.5 million to assist in
funding outstanding receivables when required. The Board believes that the
Group has sufficient working capital to support the business and its current
opportunities going forward.
Brexit
The Board continues to consider the possible effects of Brexit on the business
and, due to most of the business being outside of the EU, believes that Brexit
will not have a material impact on the operations, financial performance or
future prospects of the Group. However, the Group is actively looking to
increase d2p and PPE business in the EU and so the Board continues to monitor
the potential challenges arising from Brexit and the current political and
economic uncertainties.
COVID-19
COVID-19 has and continues to cause general uncertainty which may affect
several markets in which Symphony operates. There has been delay to some
operations within the Group's distributor network but overall effects on
Symphony's operations and finances have been minimal. The Group's markets are
generally not negatively affected by the pandemic which on the contrary may
strengthen given that plastics (and particularly antimicrobial plastics) are
essential for protecting food and human health. The Group has not needed any
COVID-19 financial support from the government.
Outlook
Following a robust performance in H1, third quarter invoicing started slowly
due to disruption caused by COVID-19 and holiday season delays. However, more
recent activity within our strong pipeline indicates a pick-up for the rest of
the year and into 2021.
Our current PPE product range includes nitrile, latex, vinyl and plastic
examination gloves, as well as face masks. As previously advised, orders for
PPE of approximately £1,000,000 have been received for these types of
finished products for delivery in the second half of this year and enquiries
are growing. However, for many of these product items material demand is
greater than current supply and therefore we are focused on securing supply
into 2021.
Our global network continues to work hard towards commercialising a growing
pipeline of customer-led demand for use in many different d2p applications,
and the Board is especially confident of gaining success in the short term
with the FDA-approved technology together with the suite of technologies which
are showing proven anti-viral protection.
d2w progress is expected to continue at a faster rate, with some Governments
expected to approve the use of d2w type technology in plastic products that
would otherwise be banned.
The Board is confident that the Group is in a good position and is well placed
to strongly move forward over the following months with continuing growth in
2021.
Michael Laurier, Chief Executive
Condensed consolidated interim statement of comprehensive income
6 months to 6 months to 12 months to
30 June 30 June 31 December
2020 2019 2019
Unaudited Unaudited Audited
£'000 £'000 £'000
Revenue 4,753 4,090 8,225
(2,594) (2,069) (4,450)
Cost of sales
Gross profit 2,159 2,021 3,775
Distribution costs (164) (146) (321)
Administrative expenses (1,955) (1,914) (4,077)
Operating profit/(loss) 40 (39) (622)
Finance costs (22) (47) (75)
Profit/(loss) for the period before tax 18 (86) (697)
Tax credit - - 37
Profit/(loss) for the period 18 (86) (660)
Total comprehensive income for the period 18 (86) (660)
Earnings per share:
Basic 0.01 (0.05) (0.41)p
Diluted 0.01 (0.05) (0.41)p
All results are attributable to the owners of the parent.
There were no discontinuing operations for any of the above periods.
Condensed consolidated interim statement of financial position
At At At
30 June 30 June 31 December
2020 2019 2019
Unaudited Unaudited Audited
£'000 £'000 £'000
ASSETS
Non-current
Property, plant and equipment 191 247 218
Right-of-use assets 573 695 637
Intangible assets 40 43 42
804 985 897
Current
Inventories 993 580 882
Trade and other receivables 3,316 2,394 2,335
Cash and cash equivalents 525 252 1,161
4,834 3,226 4,378
Total assets 5,638 4,211 5,275
EQUITY AND LIABILITIES
Equity
Equity attributable to owners of
Symphony Environmental Technologies plc
Share capital 1,700 1,546 1,700
Share premium account 2,077 336 2,077
Retained earnings (519) 37 (537)
Total equity 3,258 1,919 3,240
Liabilities
Non-current
Lease liabilities 446 570 509
Current
Borrowings 231 620 283
Lease liabilities 124 119 122
Trade and other payables 1,579 983 1,121
1,934 1,722 1,526
Total liabilities 2,380 2,292 2,035
Total equity and liabilities 5,638 4,211 5,275
Condensed consolidated interim statement of changes in equity
Equity attributable to the owners of Symphony Environmental Technologies plc:
Share Share premium Retained earnings Total
capital equity
£'000 £'000 £'000 £'000
For the six months to 30 June 2020
Balance at 1 January 2020 1,700 2,077 (537) 3,240
Total comprehensive income for the period - - 18 18
Balance at 30 June 2020 1,700 2,077 (519) 3,258
Share Share premium Retained earnings Total
capital equity
£'000 £'000 £'000 £'000
For the six months to 30 June 2019
Balance at 1 January 2019 1,543 333 123 1,999
Issue of share capital 3 3 - 6
Transactions with owners 3 3 - 6
Total comprehensive income for the period - - (86) (86)
Balance at 30 June 2019 1,546 336 37 1,919
Share Share premium Retained Total
capital earnings equity
£'000 £'000 £'000 £'000
For the year to 31 December 2019
Balance at 1 January 2019 1,543 333 123 1,999
Issue of share capital 157 1,744 - 1,901
Transactions with owners 157 1,744 - 1,901
Total comprehensive income for the year - - (660) (660)
Balance at 31 December 2019 1,700 2,077 (537) 3,240
Condensed consolidated interim cash flow statement
6 months to 6 months to 12 months to
30 June 30 June 31 December
2020 2019 2019
Unaudited Unaudited Audited
£'000 £'000 £'000
Operating activities:
Profit/(loss) for the period after tax 18 (86) (660)
Depreciation 91 37 200
Amortisation 9 8 17
(Profit)/loss on disposal of tangible assets (77) (17) (15)
Foreign exchange (profit)/loss (23) 3 42
Tax credit - - (37)
Interest paid 22 31 75
Change in inventories (111) 43 (259)
Change in trade and other receivables (981) (166) (164)
Change in trade and other payables 437 (85) 76
Net cash used in operations (615) (232) (725)
Tax received - - 37
Net cash used in operating activities (615) (232) (688)
Investing activities:
Additions to property, plant and equipment (12) (39) (50)
Proceeds from sale of property, plant and equipment 92 26 27
Additions to intangible assets (7) (17) (35)
Net cash generated/(used) in investing activities 73 (30) (48)
Financing activities:
Movement in working capital facility 41 152 (454)
Discharge of finance lease liability (61) - (132)
Proceeds from share issue - 5 1,901
Lease interest paid (14) (16) (32)
Bank and invoice finance interest paid (8) (15) (43)
Net cash (used)/generated in financing activities (42) 126 1,240
Net change in cash and cash equivalents (584) (136) 504
Cash and cash equivalents, beginning of period 878 374 374
Cash and cash equivalents, end of period 294 238 878
Represented by:
Cash and cash equivalents 525 252 1,161
Bank overdraft (231) (14) (283)
294 238 878
Notes to the interim financial statements
1 Nature of operations and general information
Symphony Environmental Technologies plc (the "Company") and subsidiaries'
(together the "Group") principal activities include the development and supply
of environmental plastic additives and products.
Symphony Environmental Technologies plc, a public limited company, is the
Group's ultimate parent company. It is incorporated and domiciled in England
(company number 03676824). The address of its registered office is 6 Elstree
Gate, Elstree Way, Borehamwood, Hertfordshire, WD6 1JD, England. The Company's
shares are listed on the AIM market of the London Stock Exchange.
These condensed interim consolidated financial statements ("interim financial
statements" or "interim report") are for the six months ended 30 June 2020.
They do not include all of the information required for full annual financial
statements and should be read in conjunction with the consolidated financial
statements of the Group for the year ended 31 December 2019.
The financial information set out in this interim report does not constitute
statutory accounts. The Group's statutory financial statements for the year
ended 31 December 2019 have been filed with the Registrar of Companies. The
auditor's report on those financial statements was unqualified and did not
contain a statement under Section 498(2) or 498(3) of the Companies Act 2006.
These interim condensed consolidated financial statements have not been
audited.
These interim financial statements have been prepared in accordance with the
requirements of International Accounting Standard ("IAS") 34 "Interim
Financial Reporting", and are presented in Pounds Sterling (£), which is the
functional currency of the parent company. They have been prepared under the
historical cost convention. They have also been prepared on the basis of the
recognition and measurement requirements of International Financial Reporting
Standards that are adopted by the European Union, and the policies and
measurements are consistent with those stated in the financial statements for
the year ended 31 December 2019.
These interim financial statements were approved by the board on 11 September
2020.
2 Significant accounting policies
These interim financial statements have been prepared in accordance with the
accounting policies adopted in the last annual financial statements for the
year ended 31 December 2019.
3 Seasonal fluctuations
The Group operates in many countries and in many different markets. There are
therefore no formal or considered seasonal fluctuations affecting the
operations of the Group.
4 Segmental analysis
The Board considers that the Group does not have separate operating segments
as defined under IFRS 8.
5 Shares issued
Shares issued are summarised as follows:
6 months to 6 months to Year to
30 June 30 June 31 December 2020
Shares issued and fully paid 2020 2019
- beginning of period 170,026,277 154,344,377 154,377,377
- issued during the period - 225,000 15,681,900
Total equity shares issued and fully paid at end of period
170,026,277 154,569,377 170,026,277
6 Earnings per share and dividends
The calculation of earnings per share is based on the result attributable to
ordinary shareholders divided by the weighted average number of shares in
issue during the period.
The calculation of diluted earnings per share is based on the basic earnings
per share, adjusted to allow for the issue of shares on the assumed conversion
of dilutive options and warrants which were exercisable during the period.
Reconciliations of the results and weighted average numbers of shares used in
the calculations are set out below:
Basic and diluted 6 months to 6 months to Year to
30 June 30 June 31 December 2019
2020 2019
Profit/(loss) attributable to owners of the Company £18,000 £(86,000) £(660,000)
Weighted average number of ordinary shares in issue
170,026,277 154,522,528 160,085,762
Basic earnings per share 0.01 pence (0.05) pence (0.41) pence
Dilutive effect of weighted average options and warrants 5,752,769 5,546,938 5,338,811
Total of weighted average shares together with dilutive effect of weighted 189,300,008 172,702,090 160,085,762
options and warrants
Diluted earnings per share 0.01 pence (0.05) pence (0.41) pence
No dividends were paid for the year ended 31 December 2019.
The effect of options and warrants for the six months to 30 June 2019 and year
to 31 December 2019 are anti-dilutive.
7 Availability of Interim Financial Statements
Paper copies of the Interim Financial Statements will be sent to shareholders
upon request. Shareholders will be able to download a copy of the Interim
Financial Statements from the Group's website www.symphonyenvironmental.com
(http://www.symphonyenvironmental.com) . Further copies of the Interim
Financial Statements will be available from the Company's Registered Office at
6 Elstree Gate, Elstree Way, Borehamwood, Hertfordshire WD6 1JD.
NOTES TO EDITORS:
Symphony Environmental Technologies plc
https://www.symphonyenvironmental.com (https://www.symphonyenvironmental.com)
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 microbes, and insects and
rodents, and against fire. d2p products also include odour, moisture and
ethylene adsorbers as well as other types of food-preserving technologies.
Symphony has also launched d2p anti-microbial household gloves and
toothbrushes and is developing a range of other d2p finished products for
retail sale. See www.d2p.net (http://www.d2p.net)
Symphony has developed and continues to develop and market, a biodegradable
plastic technology which helps tackle the problem of microplastics by turning
ordinary plastic at the end of its service-life into biodegradable materials.
It is then no longer a plastic and can be bioassimilated in the open
environment in a similar way to a leaf. 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. In some countries, most recently
Saudi Arabia, oxo-biodegradable plastic is mandatory. See www.d2w.net
(http://www.d2w.net)
The Group has complemented its d2w biodegradable product range with d2c
"compostable resins and products" that have been tested to US and EU
composting standards.
Symphony has also developed the d2Detector®, a portable device which analyses
plastics and detects counterfeit products. This is useful to government
officials tasked with enforcing legislation, and Symphony's d2t tagging and
tracer technology is available for further security.
Symphony has a diverse and growing customer-base and has established itself as
an international business with 74 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 member of The OPA (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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