Peru legal action outcome

RNS Number : 2082Q

Symphony Environmental Tech. PLC

27 June 2022

 

27 June 2022

SYMPHONY ENVIRONMENTAL TECHNOLOGIES PLC

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

Government of Peru confirms d2w is not an oxo-degradable plastic, and does not generate microplastics

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 that following legal action by Symphony's  distributor in Peru, a clear distinction has been officially acknowledged between oxo-degradable and oxo-biodegradable technologies, and  officially confirming that oxo-biodegradable technology does not leave microplastics behind.

The legal action against the Ministry of Production was heard before INDECOPI (Public National Institute for Free Competition and Protection of Intellectual Property) who resolved, and the Ministry admitted, that there is no bureaucratic barrier against oxo-biodegradable technology, because the prohibition in the 2021 Decree regulating biodegradable plastic bags was against oxo-degradable plastic and not against oxo-biodegradable plastic.

This legal outcome has significant implications for Symphony's commercial growth in Peru and in Latin America generally.

In addition, it vindicates Symphony's long-term and ongoing advocacy strategy in the region, based upon transparent and technically-led engagement with legislators and opinion-formers.  Through this process the Company highlights the environmental benefit of Symphony's scientifically-proven oxo-biodegradable technology.  

Michael Laurier, CEO of Symphony said:

"This declaration in Peru is a significant event for Symphony, as for the first time in Latin America, a government institution has officially acknowledged the distinction between oxo-degradable and oxo-biodegradable technologies, and the fact that d2w does not create microplastics.

We are confident that this confirmation will reassure manufacturers and end-users alike as to the validity of d2w as a cost-effective biodegradable alternative to ordinary plastic.  Our local distributor expects that this will generate new d2w customers and increased sales in Peru, and we believe this should also be the case for the whole Latin America region."

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]

NOTES TO EDITORS:

About Symphony Environmental Technologies plc

www.symphonyenvironmental.com  

Symphony has 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®, 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.

Symphony has also developed a synergistic range of additives, concentrates and masterbatches marketed under its d₂p® ("designed to protect") trademark, which can be incorporated into a wide variety of plastic and non-plastic products so as to give them protection against 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.

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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