TIDMBIOM
RNS Number : 5289G
Biome Technologies PLC
16 November 2022
The information contained within this announcement is deemed by
the Company to constitute inside information for the purposes of
Regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations
2019/310.
16 November 2022
Biome Technologies plc
("Biome", "the Company" or "the Group")
Biome receives GBP282k grant to scale-up novel biopolymers
Biome announces that its Bioplastics division (
www.biomebioplastics.com ) has been awarded GBP282,000 in funding
from Innovate UK, the UK Government's innovation agency, to support
the scale-up of novel compostable biopolymers for the flexible
packaging and coatings industries in collaboration with Thomas Swan
( www.thomas-swan.co.uk ) and the University of Nottingham. The
project has a total investment of GBP474,000 and is expected to
last 18 months.
Over the last nine years, Biome has undertaken considerable
research and development work on a range of biodegradable polymers,
based on bio-based inputs. This work has involved seven
universities and around 30 leading scientists and engineers. All
the resultant polymers are subject to patent protection or patent
application. Before this new Innovate UK grant, these novel
polymers have only been scaled successfully from laboratory
test-tube to small kilogram quantities on pilot plant
equipment.
The new funding for this project will scale up one of these
promising polymers to quantities of hundreds of kilograms on Thomas
Swan's industrial-scale assets. This selected polymer is based on
furan dicarboxylic acid (FDCA), an important new bio-based
chemical. Such production will allow the performance and production
process of this polymer to be evaluated at a commercially relevant
scale.
Thomas Swan is a leading independent manufacturer of performance
and fine chemicals with offices in the United States and China and
a global network of distributors. The company manufactures over 100
products, from kilogram to multi-tonne quantities, and offers an
experienced and flexible custom manufacturing service. Thomas Swan
has collaborated with Biome's development for the last few years
and is well-placed to support this specific project and ultimately
manufacture Biome's novel FDCA based polymers at a commercial
scale.
The University of Nottingham has worked with Biome for the past
five years. Its contribution to this project will be led by Derek
Irvine, Professor of Materials Chemistry at the institution's
Faculty of Engineering. His team will support the technology
transfer from the laboratory to Thomas Swan and work on further
enhancements to the FDCA-derived polymer.
This work forms part of Biome's approach to providing highly
functional added-value products to the market. It is envisaged that
products derived from this collaboration will be commercialised
after project completion.
Paul Mines, Biome Technologies' Chief Executive, commented:
"After nine years of significant work by Biome's scientists,
engineers and supporting partners, it is great to be taking a
substantial step towards industrialisation in bringing these
FDCA-based polymers to the market. Thomas Swan and the University
of Nottingham are great partners to support us on our journey to
commercialise this new generation of bio-based and compostable
polymers."
Harry Swan, Thomas Swan's Chief Executive and Owner, added:
"This is an excellent project that will see the acceleration of
an important new sustainable product for Biome. It also sits well
with Thomas Swan's own mission to inspire and deliver sustainable
chemistry. Innovate UK grants are not easy to secure which lends
great credibility to the technology and its potential. I look
forward to seeing this exciting project progress with our partners,
Biome and the University of Nottingham."
-Ends-
For further information please contact: Biome
Technologies plc
Paul Mines, Chief Executive Officer
Rob Smith, Chief Financial Officer
www.biometechnologiesplc.com Tel: +44 (0) 2380 867
100
Allenby Capital
David Hart/Alex Brearley (Nominated Adviser)
Kelly Gardiner (Sales and Corporate Broking)
www.allenbycapital.com Tel: +44 (0) 20 3328
5656
About Biome
Biome Technologies plc is an AIM listed, growth-orientated,
commercially driven technology group. Our strategy is founded on
building market-leading positions based on patented technology and
serving international customers in valuable market sectors. We have
chosen to do this by developing products in application areas where
the value-added pricing can be justified and are not reliant on
government legislation. These products are driven by customer
requirements and are compatible with existing manufacturing
processes. They are market rather than technology-led.
The Group comprises two divisions, Biome Bioplastics Limited
("Bioplastic") and Stanelco RF Technologies Limited ("RF
Technologies").
Biome Bioplastics is a leading developer of highly-functional,
bio-based and biodegradable plastics. The company's mission is to
produce bioplastics that challenge the dominance of oil- based
polymers.
Stanelco RF Technologies designs, builds and services advanced
radio frequency (RF) systems. Dielectric and induction heating
products are at the core of a product offering that ranges from
portable sealing devices to large furnaces for the fibre optics
markets.
www.biometechnologiesplc.com www.biomebioplastics.com and
www.thinkbioplastic.com www.stanelcorftechnologies.com
About Thomas Swan
Thomas Swan & Co. Ltd. is an independent chemical
manufacturing company. With offices and warehousing in the UK, USA
and China and a global network of distributors, they service the
domestic and international markets and export to over 80 countries
worldwide.
Founded in 1926 in Consett, in the North East of England - still
home to their manufacturing facilities - Thomas Swan today produces
over 100 products, in kilogramme to multi-tonne quantities, and
offers an experienced and flexible manufacturing service.
www.thomas-swan.co.uk
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