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Share Name Share Symbol Market Type Share ISIN Share Description
Biome Technologies Plc LSE:BIOM London Ordinary Share GB00B9Z1M820 ORD 5P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.0% 190.00 180.00 200.00 190.00 180.00 190.00 9,249 08:00:04
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Industrial Engineering 7.0 -1.0 -35.0 - 6

Biome Technologies PLC Update on biodegradable tree shelter project

13/01/2021 7:00am

RNS Non-Regulatory


TIDMBIOM

Biome Technologies PLC

13 January 2021

REACH

13 January 2021

Biome Technologies plc

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

Biome successfully completes feasibility phase of biodegradable tree shelter project

Biome's Bioplastics division ( www.biomebioplastics.com ) announces the successful completion of its three-month feasibility project to develop and test a new generation of biodegradable tree shelters to be manufactured from the Company's bioplastics.

Tree shelters protect young trees and bushes from predation by animals. They are a well-proven and economic route to limiting losses in the first five years of a tree's life. Traditionally made from oil-based and non-biodegradable plastics, the majority of such shelters are never collected and eventually litter the environment with microplastics.

In the UK, around 45 million trees are planted each year, most of those using non-biodegradable tree shelters for protection, with an estimated 2,500 tons of persistent plastics ending up annually in the natural environment after use. Plans to significantly increase tree planting as part of the UK's drive to mitigate climate change will exacerbate these problems.

The initial feasibility project has allowed the Company to explore the performance of a variety of bioplastic materials in this application and culminated in the manufacture of prototypes at Biome's customer's premises.

The polymers that Biome are using in this project are bio-based and biodegradable. Some are novel and represent some of the results of over six years and GBP6.5 million of directed investment in research collaboration between Biome and a number of the UK's leading universities. The development of biodegradable tree shelters is the first potential commercial application arising from this collaborative group's endeavours. The polymers used in this particular project are partly based on furandicarboxylic acid (FDCA) monomeric building blocks. More information regarding the processes for the formation of FDCA can be found on the Company's website, https://biomebioplastics.com/industrial-biotechnology/ .

This feasibility project was supported by a funding contract between Biome and the UK Government's agency, Innovate UK, as part of the Sustainable Innovation Fund (SBRI Phase 1). The Company has tendered for a further contract under SBRI Phase 2 with a view to starting large-scale field trials of novel biodegradable tree shelters during 2021.

To provide investors with more details on the scientific approach to this project and its future path to prospective commercialisation, the Company has commissioned a short explanatory video that can be viewed here: https://vimeo.com/494238613 .

-Ends-

For further information please contact: Biome Technologies plc

Paul Mines, Chief Executive Officer

Donna Simpson-Strange, Company Secretary

info@biometechnologiesplc.co.uk

Tel: +44 (0) 2380 867 100

www.biometechnologiesplc.com

Allenby Capital

David Hart/Alex Brearley (Nominated Adviser)

Kelly Gardiner (Sales and Corporate Broking)

Tel: +44 (0) 20 3328 5656

www.allenbycapital.com

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 and Stanelco RF Technologies Limited.

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

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January 13, 2021 02:00 ET (07:00 GMT)

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