REG - Symphony Environment - Symphony India Sustainability Award

Symphony Environmental TechnologiesAnnouncement

20/04/2022 07:00

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RNS Number : 6607I  Symphony Environmental Tech. PLC  20 April 2022

 

 

20 April 2022

 

SYMPHONY ENVIRONMENTAL TECHNOLOGIES PLC

 

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

 

Prestigious d2w sustainability award in India and

Symphony India JV operations update

 

Symphony Environmental Technologies Plc (AIM:SYM), the global specialists in
technologies that make plastic and rubber products smarter, safer and more
sustainable, is delighted to announce that Symphony Environmental India Pvt
Ltd ("Symphony India"), its Indian joint venture with Indorama Corporation,
has been honoured with a prestigious award for its contribution to
sustainability with d2w biodegradable masterbatch technology for manufacturing
non-bio plastics into biodegradable, environmentally safe compounds.

 

Sustainability award

 

This important award was given to Symphony India's CEO Arjun Aggarwal at the
Vivekananda Sustainability Summit in New Delhi on 19 April in the category of
"Development of new materials contributing to Sustainability through
scientific innovation to the improvement of environment". The award was
presented by Mr Nitin Gadkari (Cabinet Minister, Road, Transport &
Highways India).

 

The summit saw many stakeholders working for sustainable development in India
under Prime Minister Narendra Modi's ambitious "Swachh Bharat Abhiyan" (Clean
India Mission) that aims, among other things, to tackle plastic products that
escape collection for recycling. These are considered hazardous and they
create non-biodegradable plastic waste that contaminates land, rivers and
oceans. The awards honour those who have made important contributions to the
Sustainable Development Goals published by the United Nations in 2015 which
comprise 17 interlinked global targets "to achieve a better and more
sustainable future for all."

 

The Extended Producer Responsibility policy published by the Indian Ministry
of Environment ("MoE") in February 2022 requires significant changes for the
treatment and disposal to pre-consumer and post-consumer plastic packaging
waste that will encourage more recycling and use of biodegradable plastics.

 

Symphony India Operations Update

 

The low-cost d2w masterbatch technology was developed by Symphony, and is now
being produced in India with locally produced materials. Initial d2w product
sales have now been made (albeit at a small level) and delivered to Indian
customers, but importantly, strong customer enquiries are being received.
Plastic waste is a major issue and d2w deals with the plastic waste by
converting it automatically at the end of its useful life into a waxy
substance which is biodegradable in the open environment. It does not need to
be collected and taken to a composting facility. The infrastructure is now in
place for manufacturing at commercial levels and based upon current enquiries,
the Board anticipate increasing sales volumes during H2-2022 and beyond.

 

Michael Laurier, CEO of Symphony UK, said "We are delighted that Symphony
India has been given this prestigious award for the enormous effort and
contribution that it is making. India is a country whose environment suffers
seriously from plastic pollution, and we will do everything we can to support
our colleagues in India to solve this problem.

 

We believe this award will significantly strengthen our visibility in the
country as new waste management laws banning or restricting ordinary plastics
become effective later this year. As such we expect to see further material
increases in enquiries and sales."

 

Arjun Aggarwal, CEO of Symphony Environmental India, said: "As a responsible
company, we feel it is our duty to ensure that the Earth - our only home -
remains the blue planet that nature intended it to be and is not turned into a
dumping ground for plastics. Our revolutionary masterbatch technology paves
the way for an Earth free of plastic footprint, whether on land or the oceans.
This is our humble response to the clarion call by the visionary Indian Prime
Minister Narendra Modi for a Swachh Bharat (Clean India). We want to extend
this goal to a Swachh Earth (Clean Earth)."

 

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 Indorama Corporation

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

 

Indorama Corporation is a leading materials organisation with wide interests
in fertilizers, polymers, medical gloves, fibres, and yarns with more than 20
manufacturing sites in 9 countries employing over 18,000 people worldwide. It
is the largest fertiliser and petrochemical operator in West Africa where it
manufactures ammonia, urea, olefins, polyolefins, phosphoric acid and
phosphate fertilizers; one of the world's largest producers of synthetic
disposal medical gloves and an integrated producer of cotton and synthetic
spun yarns.

 

 

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 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 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 this type of biodegradable
plastic is mandatory.

 

The Group has also developed a range of additives, concentrates and
masterbatches marketed under its d(2)p® ("designed to protect") trademark,
which can be incorporated in a wide variety of plastic and non-plastic
products so as to give them protection against many different types of
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 different 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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