Symphony Environmental Tech. PLC AGM Statement

RNS Number : 0069U

Symphony Environmental Tech. PLC

28 June 2024

 

 

28 June 2024

 

SYMPHONY ENVIRONMENTAL TECHNOLOGIES PLC

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

 

AGM Statement

 

Symphony Environmental Technologies Plc (AIM:SYM), the global specialists in technologies that make plastic and rubber products smarter, safer and more sustainable, is pleased to provide the following update prior to its Annual General Meeting ("AGM") to be held today at 11.00 am.

 

At the AGM Nicolas Clavel, Chairman of Symphony, will make the following statement:

 

I am pleased to report that trading continues in line with our recent statements.

The Group is focused on accelerating the commercialisation of several projects whilst refining costs.

I would like to re-emphasise that many of these opportunities are significant and with continuing positive conversations, trials and other factors, the Board have confidence that these will be converted in the short to medium term. The 2024 outlook, and beyond, is showing a positive commercial position for the Group and pleasingly is across all of our main d2w and d2p technology offerings.

In summary therefore, having recently raised equity to strengthen the balance sheet and with positive progress being made with our host of pipeline projects, the Board look to the future with optimism.

 

Enquiries

 

Symphony Environmental Technologies Plc
Michael Laurier, CEO	Tel: [phone]
Ian Bristow, CFO
www.symphonyenvironmental.com
Zeus (Nominated Adviser and Broker)
David Foreman / Alexandra Campbell-Harris (Investment Banking)	Tel: [phone]
Dominic King (Corporate Broking)

 

NOTES TO EDITORS:

 

About Symphony Environmental Technologies plc

www.symphonyenvironmental.com

 

d2w TECHNOLOGY

Symphony has developed a biodegradable plastic technology which addresses the problem of persistent microplastics, by turning ordinary plastic at the end of its service-life into a waxy substance which is biodegradable. It is then no longer a plastic and can be bioassimilated in the open environment in a similar way to a leaf without leaving microplastics behind. See https://www.symphonyenvironmental.com/why-biodegradable/ 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. In some countries, oxo-biodegradable plastic is mandatory for short-life plastic products.

d2w technology was studied for three years in the Oxomar project, sponsored by the French government, which concluded that plastic made with Symphony's d2w oxo-biodegradable technology will biodegrade in seawater significantly more efficiently than conventional plastic. See www.biodeg.org/subjects-of-interest/agriculture-and-horticulture/the-marine-environment/  

Following this report, the scientists allowed bacteria commonly found in the open environment access to d2w oxo-biodegradable plastic containing Carbon 13.  They found Carbon 13 in the carbon dioxide exhaled by the bacteria, proving beyond doubt that the plastic had been bioassimilated by the bacteria.

d2p TECHNOLOGY

Symphony has developed a range of additives, concentrates and master-batches 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 provide protection against many different types of bacteria, viruses, fungi, algae, moulds, and insects, and against fire. See www.d2p.net d2p products also include odour, moisture and ethylene adsorbers as well as other types of food-preserving technologies. For an overview see www.d2p.net   Symphony has launched d2p anti-microbial household gloves and toothbrushes and "Symfresh" food-packaging and is developing a range of other d2p finished-products for retail sale.

d2c TECHNOLOGY

Symphony has complemented its d2w and d2p product ranges with d2c "compostable resins and products" that have been tested to US and EU composting standards and has invested in Eranova - a French company extracting starch for making plastics out of algae.

d2DETECTOR

Symphony has also developed the d2Detector®, a portable device which analyses plastics and detects counterfeit products.  This is useful for government officials tasked with enforcing legislation, and Symphony's d2t tagging and tracer technology is available for further security.

SYMPHONY'S BUSINESS

Symphony has a diverse and growing customer-base and has established itself as an international business with over 70 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 founder-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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