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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
3DM Worldwide | LSE:TDM | London | Ordinary Share | GB0030949472 | ORD 2.5P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 5.19 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:2679W 3DM Worldwide PLC 09 May 2007 3DM Worldwide plc ("3DM" or the "Company") 3DM take lead in cross-sector plastic recycling project The board of 3DM Worldwide plc (AIM:TDM) is pleased to announce that it is leading a consortium including, Bovis Lend Lease, Tesco, Severnside Recycling, Philip Tyler Polymers, Brunel University (Wolfson Centre for Materials Processing) and Pera to develop innovative, sustainable products to be manufactured using the revolutionary Powder Impression Moulding (PIM) process. The products will be made from waste plastic sourced from the retail and construction sectors. The consortium has accepted a grant of #0.6 million of public funding through the Department of Trade and Industry (DTI) led Technology Programme as part of the #1.2 million project. 3DM does not expect any meaningful increase in cash expenditure from it's participation in this project. The consortium will develop cross-sector recycling opportunities aimed at capturing valuable thermoplastics materials which would normally be sent to landfill. The project will focus on reusable plastic containers for use in retail logistics and further development of site hoarding systems. Using 3DM's PIM process the mixed plastic waste will be converted into commercially viable products. It is the consortium's intention on successful completion of the project to assign on-going production to a third party manufacturer at no further cost to 3DM. The two-year project, managed by international technology consulting group Pera, aims to capture up to 25,000 tonnes of waste material per annum. This will help British Industry achieve the 25% target for reuse of plastics under the packaging waste directive by 2010. 3DM is currently unable to provide guidance as to future revenues from this venture as the products in which the materials will be used are still to be identified. 3DM will update the market once the project has clarified the range of products to be developed and the likely royalty revenue streams due to the Company. Welcoming the new partnership, Science and Innovation Minister, Malcolm Wicks said: "The UK has a proud history of innovation in science and technology. We believe that we must work with industry to develop the marketable products and services of tomorrow, so that we can maintain our position as a leading global economy." "That's why we're supporting this project. It provides a great opportunity to harness the UK's world-class expertise and use it to boost our economy and help the environment at the same time." About the Technology Programme The Technology Programme provides funding using two of the DTI's business support products: Collaborative Research & Development and Knowledge Transfer Networks. Over the period 2005-2008, #320 million in funding is being made available from DTI to businesses to support research and development in technology areas identified by the Government's Technology Strategy Board. This funding is increased by contributions from other Government Departments such as Defra (#30m), Regional Development Agencies and Devolved Administrations (#30m) and Research Councils (#26m). The Programme is investing directly in new and emerging technologies and has been designed to help businesses work collaboratively with each other or with academic partners to develop technologies that will underpin products and services of the future. In November 2006, DTI announced that, building on its success to date, the Technology Strategy Board would in 2007 become an Executive Non Departmental Public Body taking over responsibility for the delivery of the Technology Programme. Since 2004, the Technology Programme has supported over 600 projects across 40 technology areas with a combined business and Government investment worth over #900m. 22 Knowledge Transfer Networks (KTNs) have also been established with funding of around #40m over 3 years. For further information: http://www.dti.gov.uk/innovation/technologystrategy. 9 May 2007 This information is provided by RNS The company news service from the London Stock Exchange END MSCOKFKDKBKBBPK
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