14th Jul 2021 11:48
Symphony Environmental Technologies PLC - Hertfordshire-based firm that turns plastic into biodegradable material - Gets approval from US Food & Drug Administration for its d2p antimicrobial food contact technology.
"More specifically, the FDA's approval for Symphony's d2p antimicrobial food contact technology, now applies to all types of polyolefin and polyester film for wrapping bread, instead of just linear low density polythene. Low density polythene and polypropylene are common packaging materials which are both now included. Symphony's d2p technology is intended to inhibit the growth of bacteria on the surface of the packaging film and is vital to a very hygiene-conscious industry," company explains.
Symphony says the approval also allows up to three times increased loading of d2p technology. It expects an acceleration of the commercial process in the near term.
Michael Laurier, chief executive, said "This innovative multi-layer film treatment with d2p has been developed through our customer-focused trials following last year's FDA approval. The benefits for our customers were already significant and so we are delighted to have obtained this more enhanced approval for our d2p bread applications in the USA.
"The value proposition is now so much greater with better efficacy and more flexibility. We are confident of announcing the start of commercial sales during this year and in the medium term, generating significant revenues from d2p treated films, not just in the USA, but in other key regions of the world."
Current stock price: 21.47 pence, up 13% on Wednesday
Year-to-date change: up 30%
By Paul McGowan; [email protected]
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