Announcement
Biome Technologies PLC: Contract win for Stanelco RF Division
RNS Number : 9503G
Biome Technologies PLC
15 March 2024
15 March 2024
Biome Technologies plc
("Biome", the "Company" or the "Group")
Contract win for Stanelco RF Division
Biome Technologies plc, a leading bioplastics and radio frequency technology business, is pleased to announce that its RF Technologies division (www.stanelcorftechnologies.com) has been awarded a further contract win. The contract has a revenue value of £536,000 to supply two radio frequency welding systems (the "Systems") for use by an international corporation in the medical supply sector.
The Systems will use a modular machine platform which integrates automation and RF welding. They will be built and tested at the Company's Marchwood, UK, facility and subsequently combined with other production line equipment supplied by the end-customer's chosen contractor before final installation in a UK facility. Completion of the Systems is scheduled within the 2024 financial year, with stage payments being received against milestones during the contract.
This contract is one of the opportunities for the RF Technologies Division indicated in our 11 March 2024 announcement and will contribute towards our Group expectations for 2024.
Paul Mines, CEO, commented, "This important order results from the division's ongoing strategy of diversification beyond its traditional strength into new high-value medical market areas. The division continues to work on further potential opportunities and we remain confident in bringing another of these opportunities to a similar conclusion in the coming months."
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For further information please contact: |
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Biome Technologies plc Paul Mines, Chief Executive Officer |
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Rob Smith, Chief Financial Officer |
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www.biometechnologiesplc.com |
Tel: +44 (0) 2380 867 100 |
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Allenby Capital |
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David Hart/Alex Brearley (Nominated Adviser) Kelly Gardiner/Tony Quirke (Sales and Corporate Broking) |
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www.allenbycapital.com |
Tel: +44 (0) 20 3328 5656 |
About Biome
Biome Technologies plc is an AIM 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 and RF Technologies.
Biome Bioplastics is a leading developer of highly-functional, bio-based and biodegradable plastics. The division's mission is to produce bioplastics that challenge the dominance of oil- based polymers.
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.biometechnologiesplc.comwww.biomebioplastics.comandwww.thinkbioplastic.comwww.stanelcorftechnologies.com
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