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(Alliance News) - Biodegradable plastic developer Symphony Environmental Technologies PLC on Thursday said its d2w biodegradable packaging programme with baking company Grupo Bimbo has made progress.
Shares in Symphony were up 2.8% at 9.25 pence in afternoon trading.
The programme was launched in Mexico City in 2008. It has resulted in all Grupo Bimbo packaging suitable for Symphony's technology becoming recyclable and biodegradable.
The amount of plastic used in packaging was also reduced due to a packaging gauge decrease.
Grupo Bimbo has launched its first compostable packaging. The packaging "can be disposed of together with organic waste" and it is Grupo Bimbo's aim to make all of its packaging "recyclable or biodegradable or compostable" by 2025.
Grupo Bimbo "has sales of USD15.1 billion across 32 countries" and is "the largest baking company in the world".
Symphony Chief Executive Michael Laurier said: "It has been a challenge and a privilege to work with Grupo Bimbo and to help them make sure that their packaging meets the highest technical and environmental standards. We have invested heavily in scientific and technical excellence to make this happen and are proud to partner with one of the world's most successful and responsible groups of companies.
"Both Symphony and Grupo Bimbo are committed to a circular economy, but packaging which escapes into the open environment cannot be collected for recycling, composting or anything else. However, if it is made with d2w technology it will become biodegradable and be recycled back into nature by naturally-occurring micro-organisms," Laurier added.