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Pin to quick picksSymphony Env. Regulatory News (SYM)

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Positive DEFRA consultation

29 Nov 2021 07:00

RNS Number : 7859T
Symphony Environmental Tech. PLC
29 November 2021
 

This is a Reach announcement. Reach is an investor-communication service aimed at assisting listed companies to distribute non-regulatory news releases into the public domain. Information required to be notified under the AIM Rules for Companies, Market Abuse Regulation or other regulation would be disseminated as an RNS regulatory announcement and not on Reach.

 

New UK Government consultation:

oxo-biodegradable not listed as a "problematic plastic"

 

Symphony Environmental Technologies (AIM:SYM), global specialists in technologies that make plastic and rubber products "smarter, safer and more sustainable", is pleased that DEFRA (the UK government department for Environment, Food and Rural Affairs) has NOT listed oxo-biodegradable plastic in its November 2021 public consultation as a "frequently littered and problematic plastic." The Scottish Government has likewise issued draft Regulations in November which do not list oxo-biodegradable plastic. Symphony views this as a major step in the right direction.

Symphony is also encouraged that the UK Government has given grants for the development of oxo-biodegradable technology (sometimes described as biotransformation), demonstrating an understanding that these technologies can reduce the problem of plastic litter which does not get collected for recycling.

The British Royal Family has also shown support. HRH The Prince of Wales has visited a facility developing biotransformation technology, and Symphony is a subscriber to the Prince's "Terra Carta" Sustainable Markets Initiative.

DEFRA and the Scottish Government have now seen the evidence from the four-year Oxomar study sponsored by the French government proving that oxo-biodegradable plastics do biodegrade, even in the oceans, much more efficiently than conventional plastics. They have also seen the study by Queen Mary University London showing that the biodegradation of LDPE (low-density polyethylene) containing Symphony's d2w was 90times greater than ordinary LDPE after 35 days. They are also aware that the European Chemicals Agency, after ten months' study was not convinced that oxo-biodegradable plastic created microplastics.

Michael Laurier, CEO of Symphony said, "We welcome the position taken by the UK and Scottish Governments, and we will now be putting more effort into explaining and marketing our d2w technology in the UK."

 

Enquiries

 

Symphony Environmental Technologies Plc

 

Michael Laurier, CEO

+44 (0)20 8207 5900

 

Ian Bristow, CFO

 

 

www.symphonyenvironmental.com

 

 

 

 

 

Zeus Capital Limited (Nominated Adviser and Joint Broker)

 

 

David Foreman, Kieran Russell, Guy Brinkley (Corporate Finance)

+44 (0)161 831 1512

 

Dominic King, Victoria Ayton (Sales)

+44 (0)203 829 5000

 

 

 

 

Hybridan LLP (Joint Broker)

Claire Louise Noyce

 

 

+44 (0)203 764 2341

 

 

NOTES TO EDITORS:

 

About Symphony Environmental Technologies plc

 

 

Symphony Environmental is a world-leading developer of technologies that make traditional plastics biodegrade and enable them to protect us against external threats. Symphony's d2w biodegradable plastic technology reduces plastic pollution by turning ordinary plastic into biodegradable materials if it does not get collected for recycling, leaving no microplastics or toxic residues. Distributed in nearly 100 countries, the d2w® logo has appeared on thousands of tonnes of plastic products for over twenty years, and much of it has been recycled.

A range of additives, concentrates and masterbatches marketed under its d2p® brand are incorporated in many plastic and non-plastic products to provide protection against microbes, insects, odours, fouling and fire, and to reduce food wastage. 

Accredited to ISO9001 and ISO14001 standards, Symphony has a network of over 70 distributors globally, and is a member of the Oxo-biodegradable Plastics Association (OPA) and Society for the Chemical Industry (SCI UK). It actively participates in the committee work of the British Standards Institute (BSI), American Standards Organisation (ASTM), European Standards Organisation (CEN), and International Standards Organisation (ISO).

 

For further information visit www.symphonyenvironmental.com, Twitter @SymphonyEnv and Instagram symphonyenvironmental. A Symphony app is available for download.

 

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