23rd Mar 2021 11:28
Biome Technologies PLC - Southampton, England-based developer of biodegradable natural polymers and radio frequency systems - Secures contract with second unnamed US-end customer to accelerate commercialisation of its heat-stable and compostable bioplastic for coffee pod applications. Notes initial orders from a previous customer enabled them to test Biome's material extensively in the production environment, which proved successful, and commercial production for consumer use began in the first quarter of 2021. Says this customer has now ordered further equipment, with a value USD70,000, to be made by Biome's Stanelco RF Technologies division.
"This important customer commitment, and the commercial progress described, supports the board's expectations of the continued rapid growth of the Bioplastics division and the current market expectations for the group. It is anticipated that this will lead to significant additional revenue for the group's Bioplastics division during 2021," says Biome.
Current stock price: 364.00 pence, up 37% on Tuesday
Year-to-date change: up 46%
By Zoe Wickens; [email protected]
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