Last checked at 4 Sep 2023 07:00
4 September 2023
R&D and Supply agreement with FORPET BALTIC advances sustainable credentials and expertise
Graft Polymer (UK) plc (LSE:GPL) ('Graft' or the 'Company'), the specialty chemicals company offering modified polymer solutions for refiners, compounders and processors, announces the signing of its third Research & Development ('R&D') and Supply agreement in the last two months.
Graft and European FMCG packaging company, FORPET BALTIC, SIA ('FORPET'), will cooperate in the research and production of Recycled PET, a sustainable and environmentally friendly form of Polyethylene Terephthalate (a polyester widely used in the production of water bottles and food containers) and other sustainable packaging solutions. Once joint R&D is complete Graft will supply FORPET with the new product for manufacture.
The global PET market is projected to grow from US$48.4 billion in 2023 to US$91.4 billion by 2030, a CAGR of 9.5%. 1 PET is recyclable and lightweight, making it an ideal material in the packaging industry. The growing inclination toward high quality packaging in the pharmaceutical and food & beverage industries will boost product adoption. Furthermore, it is expected that enhanced R&D activities and advancements in polymers will fuel the PET market growth throughout the forecast period.
Sustainable innovation is central to Graft's vision as a pioneering company in the field of polymer modification technologies. The Company is focused on expanding its product ranges and global footprint, establishing partnerships to help it compete effectively through cutting edge R&D and production methods.
Graft CEO, Victor Bolduev, said: "We are delighted to forge this new partnership with FORPET, a leader in the field of sustainable and environmentally friendly packaging. Our deep expertise in polymer modification will help play a vital role in developing game-changing solutions for the disposable plastic industry."
Sergey Nikitenko, Managing Director of FORPET, commented: "We look forward to working with Victor and his team. We have been impressed by Graft's scientific and proven approach to problem solving which together with surety of supply from the newly commissioned industrial facility made them an obvious choice for this important project."
For further information, visit www.graftpolymer.com,follow on Twitter @PolymerLtd or contact:
Graft Polymer (UK) Plc
Roby Zomer, Non Executive Chairman Via Flagstaff
Yifat Steuer, CFO and Executive Chairman
Turner Pope Investments Tel:+44 (0) 20 3657 0050
James Pope
Andy Thacker
Flagstaff Strategic and Investor Communications Tel + 44 (0) 207 129 1474
Tim Thompson graftpolymer@flagstaffcomms.com
Mark Edwards
Alison Allfrey
About Graft Polymer
Graft Polymer is a London Stock Exchange listed company (GPL.L) with a cutting-edge, research and development (R&D) and manufacturing facility based in Slovenia which has already introduced more than 50 products to the market. The core business of the Group comprises polymer modification and drug delivery system developments. The Group has developed a proprietary set of polymer modification technologies which uses recycled raw materials and a closed loop system to reduce waste. Graft Polymer's technology can improve existing products and processing methodologies by enhancing performance, simplifying manufacturing, reducing material consumption, widening the choice of feedstocks, and reducing costs.
Graft Polymer has three divisions: polymer modification; IP for Bio/Pharma applications including a drug delivery system (Graft Bio); and the Group's food supplement division. A significant milestone was reached in May 2022 when the Slovenian manufacturing facility was granted a Hazard Analysis and Critical Control Point (HACCP) Certificate. The HACCP Certificate allows it to enter the lucrative Business-to-Consumer market and commercialise its IP for bio/pharma applications, developing active pharmaceutical ingredients and drug delivery platforms for use in the food supplement market, thereby introducing a further revenue stream to its business.
Environment, Social and Governance is at the forefront of the Group's strategy and the facility in Slovenia has been granted ISO 14001 accreditation in recognition of the environmental management systems in place to reduce waste. Graft Polymer only uses REACH and ROHS certificated raw materials instead of toxic raw materials, and its extensive R&D programme has also developed specialised recycling polymer additives which increases the strength of recycled blends and plastic products whilst also reducing plastic waste by between 40 and 50 per cent.