Announcement
Biome Technologies : Grant funding from Innovate UK
RNS Number : 1408X
Biome Technologies PLC
26 August 2020
26 August 2020
Biome Technologies plc
("Biome", the "Group" or the "Company")
Biome Technologies plc wins a new grant of £273k to support scale-up of its novel compostable bioplastic materials
Biome announces that its Bioplastics division ( www.biomebioplastics.com ) has been awarded funding of £273,000 from the UK Government's Innovate UK to support a new £350,000 collaborative project to scale-up its novel compostable bioplastic materials with the University of Nottingham's Department of Chemical and Environmental Engineering.
In line with expanding Biome Bioplastics materials portfolio using novel technology, this funding will accelerate the testing of the commercial viability of the three most exciting candidate materials in the division's current research portfolio. This project will use microwave technology in the development of an efficient, industrially scalable manufacturing process and will conduct further larger scale testing at the Biorenewables Development Centre in York.
Since 2013, Biome's Bioplastics division has directed more than six million pounds of research and development funding, supported by various grants and in association with a number of leading UK universities, towards a new portfolio of bio-based and biodegradable materials. This work is focused on the replacement of aromatic co-polymers currently widely used in the market with a new generation of heteroaromatic polyesters, which have the potential for differentiated functional performance coupled with tailored biodegradation.
It is anticipated that this project will start in October 2020 and will be completed within two years.
Paul Mines, Biome Technologies' Chief Executive commented:
"This latest research project is an important enabling step in understanding the performance and functionality of Biome's most exciting novel polymers. We believe these materials could represent an important addition to the business's product range in due course and will bring benefits to manufacturers, consumers and the environment."
Derek Irvine, Professor of Materials Chemistry, Faculty of Engineering, University of Nottingham commented:
"Developing differentiated and commercially viable new products and processes, which have sustainability as a key focus, is one of our core interests and capabilities. We are excited to be working with Biome to apply our skills and knowledge to these interesting new sustainable polymers."
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For further information please contact: Biome Technologies plc
Paul Mines, Chief Executive Officer
Donna Simpson-Strange, Company Secretary
Tel: +44 (0) 2380 867 100
Allenby Capital
David Hart/Alex Brearley (Nominated Adviser)
Kelly Gardiner (Broker)
Tel: +44 (0) 20 3328 5656
About Biome
Biome Technologies plc is an AIM [BIOME] listed, growth-orientated, commercially driven technology group. Our strategy is founded on building market-leading positions based on patented technology and serving international customers in valuable market sectors. We have chosen to do this by developing products in application areas where the value-added pricing can be justified and are not reliant on government legislation. These products are driven by customer requirements and are compatible with existing manufacturing processes. They are market rather than technology-led.
The Group comprises two divisions, Biome Bioplastics Limited and Stanelco RF Technologies Limited.
Biome Bioplastics is a leading developer of highly-functional, bio-based and biodegradable plastics. The company's mission is to produce bioplastics that challenge the dominance of oil-based polymers.
Stanelco RF Technologies designs, builds and services advanced radio frequency (RF) systems. Dielectric and induction heating products are at the core of a product offering that ranges from portable sealing devices to large furnaces for the fibre optics markets.
www.biomebioplastics.com and www.thinkbioplastic.com
www.stanelcorftechnologies.com
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