REG - Symphony Environment - Peru legal action outcome

Symphony Environmental TechnologiesAnnouncement

27/06/2022 07:00

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RNS Number : 2082Q  Symphony Environmental Tech. PLC  27 June 2022

 

27 June 2022

 

 

SYMPHONY ENVIRONMENTAL TECHNOLOGIES PLC

 

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

 

Government of Peru confirms d2w is not an oxo-degradable plastic, and does not
generate microplastics

 

Symphony Environmental Technologies Plc (AIM:SYM), the global specialist in
technologies that make plastic and rubber products smarter, safer and more
sustainable, is pleased to announce that following legal action by Symphony's
 distributor in Peru, a clear distinction has been officially acknowledged
between oxo-degradable and oxo-biodegradable technologies, and  officially
confirming that oxo-biodegradable technology does not leave microplastics
behind.

 

The legal action against the Ministry of Production was heard before INDECOPI
(Public National Institute for Free Competition and Protection of Intellectual
Property) who resolved, and the Ministry admitted, that there is no
bureaucratic barrier against oxo-biodegradable technology, because the
prohibition in the 2021 Decree regulating biodegradable plastic bags was
against oxo-degradable plastic and not against oxo-biodegradable plastic.

 

This legal outcome has significant implications for Symphony's commercial
growth in Peru and in Latin America generally.

 

In addition, it vindicates Symphony's long-term and ongoing advocacy strategy
in the region, based upon transparent and technically-led engagement with
legislators and opinion-formers.  Through this process the Company highlights
the environmental benefit of Symphony's scientifically-proven
oxo-biodegradable technology.

 

Michael Laurier, CEO of Symphony said:

 

"This declaration in Peru is a significant event for Symphony, as for the
first time in Latin America, a government institution has officially
acknowledged the distinction between oxo-degradable and oxo-biodegradable
technologies, and the fact that d2w does not create microplastics.

 

We are confident that this confirmation will reassure manufacturers and
end-users alike as to the validity of d2w as a cost-effective biodegradable
alternative to ordinary plastic.  Our local distributor expects that this
will generate new d2w customers and increased sales in Peru, and we believe
this should also be the case for the whole Latin America region."

 

 

 

 

 

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 Joint Broker)
 David Foreman / Kieran Russell / Guy Brinkley (Investment Banking)    Tel: +44 (0) 161 831 1512
 Dominic King / Victoria Ayton (Corporate Broking)                     Tel: +44 (0) 203 829 5000

 Hybridan LLP (Joint Broker)

 Claire Louise Noyce                                                   Tel: +44 (0) 203 764 2341

 

NOTES TO EDITORS:

 

 

About Symphony Environmental Technologies plc

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

 

Symphony has developed and continues to develop, a biodegradable plastic
technology which helps tackle the problem of plastic pollution 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 d(2)w®, 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
before it degraded. In some countries in the Middle East the use of this type
of biodegradable plastic technology is mandatory.

 

Symphony has also developed a synergistic range of additives, concentrates and
masterbatches marketed under its d(2)p® ("designed to protect") trademark,
which can be incorporated into a wide variety of plastic and non-plastic
products so as to give them protection against bacteria, viruses, fungi,
algae, moulds, and insects, and against fire. d(2)p products also include
odour, moisture and ethylene adsorbers as well as other types of
food-preserving technologies. The Group has also launched d(2)p anti-microbial
gloves, facemasks, and toothbrushes and is developing a range of other d(2)p
finished products for retail sale.

 

 

The Group 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 product applications. Symphony itself is accredited to
ISO9001 and ISO14001.

 

Symphony is a 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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