9th May 2007 07:02
3DM Worldwide PLC09 May 2007 3DM Worldwide plc ("3DM" or the "Company") 3DM take lead in cross-sector plastic recycling project The board of 3DM Worldwide plc (AIM:TDM) is pleased to announce that it isleading a consortium including, Bovis Lend Lease, Tesco, Severnside Recycling,Philip Tyler Polymers, Brunel University (Wolfson Centre for MaterialsProcessing) and Pera to develop innovative, sustainable products to bemanufactured using the revolutionary Powder Impression Moulding (PIM) process.The products will be made from waste plastic sourced from the retail andconstruction sectors. The consortium has accepted a grant of £0.6 million ofpublic funding through the Department of Trade and Industry (DTI) led TechnologyProgramme as part of the £1.2 million project. 3DM does not expect anymeaningful increase in cash expenditure from it's participation in this project. The consortium will develop cross-sector recycling opportunities aimed atcapturing valuable thermoplastics materials which would normally be sent tolandfill. The project will focus on reusable plastic containers for use inretail logistics and further development of site hoarding systems. Using 3DM'sPIM process the mixed plastic waste will be converted into commercially viableproducts. It is the consortium's intention on successful completion of theproject to assign on-going production to a third party manufacturer at nofurther cost to 3DM. The two-year project, managed by international technology consulting group Pera,aims to capture up to 25,000 tonnes of waste material per annum. This will helpBritish Industry achieve the 25% target for reuse of plastics under thepackaging waste directive by 2010. 3DM is currently unable to provide guidanceas to future revenues from this venture as the products in which the materialswill be used are still to be identified. 3DM will update the market once theproject has clarified the range of products to be developed and the likelyroyalty revenue streams due to the Company. Welcoming the new partnership, Science and Innovation Minister, Malcolm Wickssaid: "The UK has a proud history of innovation in science and technology. We believethat we must work with industry to develop the marketable products and servicesof tomorrow, so that we can maintain our position as a leading global economy." "That's why we're supporting this project. It provides a great opportunity toharness the UK's world-class expertise and use it to boost our economy and helpthe environment at the same time." About the Technology Programme The Technology Programme provides funding using two of the DTI's businesssupport products: Collaborative Research & Development and Knowledge TransferNetworks. Over the period 2005-2008, £320 million in funding is being madeavailable from DTI to businesses to support research and development intechnology areas identified by the Government's Technology Strategy Board. Thisfunding is increased by contributions from other Government Departments such asDefra (£30m), Regional Development Agencies and Devolved Administrations (£30m)and Research Councils (£26m). The Programme is investing directly in new and emerging technologies and hasbeen designed to help businesses work collaboratively with each other or withacademic partners to develop technologies that will underpin products andservices of the future. In November 2006, DTI announced that, building on its success to date, theTechnology Strategy Board would in 2007 become an Executive Non DepartmentalPublic Body taking over responsibility for the delivery of the TechnologyProgramme. Since 2004, the Technology Programme has supported over 600 projects across 40technology areas with a combined business and Government investment worth over£900m. 22 Knowledge Transfer Networks (KTNs) have also been established withfunding of around £40m over 3 years. For further information: http://www.dti.gov.uk/innovation/technologystrategy. 9 May 2007 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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