Symphony Env. Regulatory News (SYM)

1 Jul 2008 16:51

SYMPHONY ENVIRONMENTAL TECHNOLOGIES PLC 

Acceptance of Grant

Symphony Environmental Technologies Plc ("Symphony" or "Company"), the degradable plastics and waste-to-energy Group, announces that, further to the RNS made on 27 May 2008, it's wholly owned subsidiary, Symphony Energy Ltd ("Symphony Energy") and the other members of its consortium have today officially accepted the grant offer by the UK Government's Technology Strategy Board of £1.19 million for the Rubber Product Enhanced Recovery Technology project ("RµPERT"). 

The purpose of the Project is to design, build, and commercialise machines which will disassemble scrap tyres and other waste products, and turn them into valuable commodities.

Symphony Energy is the lead partner; the other members of the consortium are Imperial College London, ABB Limited (Robotics Division), Hughes Pumps Limited, Credowan Limited (Subsidiary of Cobham Plc) and ARTIS (a business of Avon Rubber Plc). 

The Grant will support a substantial part of the project cost through the Consortium but excludes Symphony Energy's direct management costs. The project will commence when a Collaboration Agreement has been signed by all members of the Consortium. This is expected before the end of July 2008.

For further information, please contact:

Symphony Energy Ltd is a member of the Symphony Environmental Technologies Plc Group of companies:

Another member of the Group is SYMPHONY ENVIRONMENTAL Ltd, which is a world leader in oxo-biodegradable plastic technology. The technology is recognised by the d2w® droplet logo on thousands of tonnes of oxo-biodegradable plastic products, and in the last 12 months enough of Symphony's d2w® prodegradant additives have been sold to makemore than 5 Billion plastic products.

Symphony has a diverse and growing customer base and has successfully established itself as an international business. Its d2w® products can already be found in more than 60 countries. Symphony Environmental Ltd. is proud to be a member of the Oxo-biodegradable Plastics Association (www.biodeg.org).

Further information on the Symphony Group can be found at 

The Technology Strategy Board is a business-led executive non-departmental public body, established by the UK government. Its mission is to promote and support research into, and development and exploitation of, technology and innovation for the benefit of UK business, in order to increase economic growth and improve the quality of life. It is sponsored by the Department for Innovation, Universities and Skills (DIUS). For further information see www.innovateuk.org.