Last checked at 4 Jan 2022 10:33
This announcement contains inside information for the purposes of Regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310. With the publication of this announcement, this information is now considered to be in the public domain.
04 January 2022
Biome Technologies plc
("Biome", the "Group" or the "Company")
Further substantial contract win for Stanelco RF Division
Biome Technologies plc, a leading bioplastics and radio frequency technology business, is pleased to announce that its Stanelco RF Technologies ("Stanelco") division (www.stanelcorftechnologies.com) has been awarded a contract to the value of £535,000 to supply twelve radio frequency heating systems into the food packaging sector in Continental Europe.
The contract underpins the Company's expectations for the Stanelco division's revenues in the first half of 2022. These systems have been ordered by an international packaging technology customer and will be designed, built, and functionally tested at Stanelco's UK site before being integrated into high-speed packaging lines in Continental Europe in Q2 2022. Revenue stage payments will be received against milestones through H1 2022.
Paul Mines, CEO, commented, "This new contract win in the food packaging space comes after the division's recent contract wins in both the medical and fibre optic markets announced in Q4 2021. This substantial contract is a further step in the division's continued progress to diversify its end-market applications and is a positive start to the New Year".
-Ends-
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 (Sales and Corporate Broking)
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 (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.com
www.biomebioplastics.com and www.thinkbioplastic.com
www.stanelcorftechnologies.com