Last checked at 15 Dec 2020 07:00
15 December 2020
Biome Technologies plc
("Biome", the "Group" or the "Company")
Biome's RF division gains traction in new application areas
Biome's Stanelco RF Technologies ("RF") division (www.stanelcorftechnologies.com) has signed three contracts, with an aggregate revenue of £117k, that will provide RF process heating solutions and equipment to customers in diversified industrial applications.
The contracts, with two new and one previous customer from the aerospace and medical sectors, provide a further positive indication that small capital goods purchases are being made by specific sectors of UK industry and that the division's efforts to grow a diversified revenue stream - beyond its traditional fibre optic cable market - are producing tangible results.
The revenues from these contracts will be realised across the remainder of 2020 and during 2021 and do not impact on the Board's expectation for 2020, during which orders from the fibre optic market have been subdued.
Paul Mines, Biome Technologies' Chief Executive commented:
"These orders provide some encouragement that we are making positive progress in RF's strategic aim of diversifying its revenue streams."
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For further information please contact: Biome Technologies plc
Paul Mines, Chief Executive Officer
Donna Simpson-Strange, Company Secretary
info@biometechnologiesplc.co.uk
Tel: +44 (0) 2380 867 100
www.biometechnologiesplc.com
Allenby Capital
David Hart/Alex Brearley (Nominated Adviser)
Kelly Gardiner (Equity Sales)
Tel: +44 (0) 20 3328 5656
www.allenbycapital.com
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 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 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.com
www.biomebioplastics.com and www.thinkbioplastic.com
www.stanelcorftechnologies.com
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