d2p Supply Agreement with Grupo Bimbo

RNS Number : 3765Q

Symphony Environmental Tech. PLC

28 June 2022

 

The information contained within this announcement is deemed by the Company to constitute inside information stipulated under the Market Abuse Regulation (EU) No. 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018.  Upon the publication of this announcement via the Regulatory Information Service, this inside information is now considered to be in the public domain

28 June 2022

SYMPHONY ENVIRONMENTAL TECHNOLOGIES PLC

("Symphony," the "Company" or the "Group")

d2p Supply Agreement with Grupo Bimbo

Symphony Environmental Technologies Plc (AIM:SYM), the global specialist in technologies that make plastic and rubber products smarter, safer and more sustainable, is pleased to announce a supply agreement for its d2p antimicrobial technology with Grupo Bimbo, for its manufacturers (the "Agreement"). The Agreement represents a major commercial advance in relation to d2p.

Grupo Bimbo is the largest bread manufacturer in the western world. Following extensive trials of d2p-enhanced plastic bread packaging, Symphony has agreed to supply its d2p antimicrobial masterbatch to their nominated bread packaging manufacturers across the whole of the American continent for a period of three years (extendable by agreement).

The supply of d2p in the USA (the western world's largest bread market), and in Canada, and Mexico will be exclusive, and Grupo Bimbo has first-refusal for other countries in the Americas.

In 2020 and 2021, Symphony announced it had obtained regulatory approvals from the FDA in the United States, and from Health Canada respectively, for its d2p anti-microbial technology for use in plastic films for bread packaging.

Grupo Bimbo's new type of d2p-enhanced antimicrobial bread packaging, has been under evaluation for nearly two years, and commercial conversion to d2p packaging has already begun. 

Symphony's CEO Michael Laurier said "I am grateful to our Board and shareholders for their support for this very challenging R&D project. Its successful conclusion and commercial adoption, makes a big difference to the Company, and lays the foundation for our FDA approved, d2p antimicrobial bread packaging for the whole world - not just in the Americas."

Enquiries

Symphony Environmental Technologies Plc
Michael Laurier, CEO	Tel: [phone]
Ian Bristow, CFO
www.symphonyenvironmental.com
Zeus (Nominated Adviser and Joint Broker)
David Foreman / Kieran Russell / Guy Brinkley (Investment Banking)	Tel: [phone]
Dominic King / Victoria Ayton (Corporate Broking)	Tel: [phone]
Hybridan LLP (Joint Broker) Claire Louise Noyce	Tel: [phone]

The person responsible for arranging the release of this information is Michael Laurier, CEO of the Company.

NOTES TO EDITORS:

For information on Grupo Bimbo see www.grupobimbo.com.mx

About Symphony Environmental Technologies plc

www.symphonyenvironmental.com  

Symphony has developed a range of additives, concentrates and masterbatches marketed under its d₂p® ("designed to protect") trademark, which can be incorporated in a wide variety of plastic and non-plastic products so as to give them protection against many different types of bacteria, viruses, fungi, algae, moulds, and insects, and against fire. d₂p products also include odour, moisture and ethylene adsorbers as well as other types of food-preserving technologies. The Group has also launched d₂p anti-microbial gloves, facemasks, and toothbrushes and is developing a range of other d₂p finished products for retail sale.

Symphony has also developed and continues to develop, a biodegradable plastic technology which helps tackle the problem of plastic pollution by turning ordinary plastic at the end of its service-life into biodegradable materials. It is then no longer a plastic and can be bioassimilated in the open environment in a similar way to a leaf. The technology is branded d₂w®, is synergistic with d2p, and appears as a droplet logo on many thousands of tonnes of plastic packaging and other plastic products around the world, much of which has been recycled before it degraded. In some countries in the Middle East the use of this type of biodegradable plastic technology is mandatory.

The Group has a diverse and growing customer-base and has established itself as an international business with 74 distributors around the world. Products made with Symphony's plastic technologies are now available in nearly 100 countries and in many product applications. Symphony itself is accredited to ISO9001 and ISO14001.

Symphony is a member of the BPA (www.biodeg.org) and actively participates in the Committee work of the British Standards Institute (BSI), the American Standards Organisation (ASTM), the European Standards Organisation (CEN), and the International Standards Organisation (ISO).

Further information on the Group can be found at www.symphonyenvironmental.com and twitter @SymphonyEnv. See also Symphony on Instagram. A Symphony App is available for downloading to smartphones.

 

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