Symphony India Sustainability Award

RNS Number : 6607I

Symphony Environmental Tech. PLC

20 April 2022

 

20 April 2022

SYMPHONY ENVIRONMENTAL TECHNOLOGIES PLC

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

Prestigious d2w sustainability award in India and

Symphony India JV operations update

Symphony Environmental Technologies Plc (AIM:SYM), the global specialists in technologies that make plastic and rubber products smarter, safer and more sustainable, is delighted to announce that Symphony Environmental India Pvt Ltd ("Symphony India"), its Indian joint venture with Indorama Corporation, has been honoured with a prestigious award for its contribution to sustainability with d2w biodegradable masterbatch technology for manufacturing non-bio plastics into biodegradable, environmentally safe compounds.

Sustainability award

This important award was given to Symphony India's CEO Arjun Aggarwal at the Vivekananda Sustainability Summit in New Delhi on 19 April in the category of "Development of new materials contributing to Sustainability through scientific innovation to the improvement of environment". The award was presented by Mr Nitin Gadkari (Cabinet Minister, Road, Transport & Highways India).

The summit saw many stakeholders working for sustainable development in India under Prime Minister Narendra Modi's ambitious "Swachh Bharat Abhiyan" (Clean India Mission) that aims, among other things, to tackle plastic products that escape collection for recycling. These are considered hazardous and they create non-biodegradable plastic waste that contaminates land, rivers and oceans. The awards honour those who have made important contributions to the Sustainable Development Goals published by the United Nations in 2015 which comprise 17 interlinked global targets "to achieve a better and more sustainable future for all."

The Extended Producer Responsibility policy published by the Indian Ministry of Environment ("MoE") in February 2022 requires significant changes for the treatment and disposal to pre-consumer and post-consumer plastic packaging waste that will encourage more recycling and use of biodegradable plastics.

Symphony India Operations Update

The low-cost d2w masterbatch technology was developed by Symphony, and is now being produced in India with locally produced materials. Initial d2w product sales have now been made (albeit at a small level) and delivered to Indian customers, but importantly, strong customer enquiries are being received. Plastic waste is a major issue and d2w deals with the plastic waste by converting it automatically at the end of its useful life into a waxy substance which is biodegradable in the open environment. It does not need to be collected and taken to a composting facility. The infrastructure is now in place for manufacturing at commercial levels and based upon current enquiries, the Board anticipate increasing sales volumes during H2-2022 and beyond.

Michael Laurier, CEO of Symphony UK, said "We are delighted that Symphony India has been given this prestigious award for the enormous effort and contribution that it is making. India is a country whose environment suffers seriously from plastic pollution, and we will do everything we can to support our colleagues in India to solve this problem.

We believe this award will significantly strengthen our visibility in the country as new waste management laws banning or restricting ordinary plastics become effective later this year. As such we expect to see further material increases in enquiries and sales."

Arjun Aggarwal, CEO of Symphony Environmental India, said: "As a responsible company, we feel it is our duty to ensure that the Earth - our only home - remains the blue planet that nature intended it to be and is not turned into a dumping ground for plastics. Our revolutionary masterbatch technology paves the way for an Earth free of plastic footprint, whether on land or the oceans. This is our humble response to the clarion call by the visionary Indian Prime Minister Narendra Modi for a Swachh Bharat (Clean India). We want to extend this goal to a Swachh Earth (Clean Earth)."

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 Indorama Corporation

www.indorama.com

Indorama Corporation is a leading materials organisation with wide interests in fertilizers, polymers, medical gloves, fibres, and yarns with more than 20 manufacturing sites in 9 countries employing over 18,000 people worldwide. It is the largest fertiliser and petrochemical operator in West Africa where it manufactures ammonia, urea, olefins, polyolefins, phosphoric acid and phosphate fertilizers; one of the world's largest producers of synthetic disposal medical gloves and an integrated producer of cotton and synthetic spun yarns.

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 microplastics 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 this type of biodegradable plastic is mandatory.

The Group has also 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.

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 different 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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