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SYM Symphony Environmental Technologies Plc

3.50
0.00 (0.00%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Symphony Environmental Technologies Plc LSE:SYM London Ordinary Share GB0009589168 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 3.50 3.00 4.00 3.50 3.50 3.50 428,211 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Plastics,resins,elastomers 6.15M -2.89M -0.0156 -2.24 6.47M

Symphony Environmental Tech. PLC d2w BioBottles supply agreement with TricorBraun

09/03/2023 7:00am

RNS Non-Regulatory


TIDMSYM

Symphony Environmental Tech. PLC

09 March 2023

This is a Reach announcement and the information contained is not considered to be material or to have a significant impact on management's expectations of the Company's performance. Reach is an investor communication service aimed at assisting listed and unlisted (including AIM quoted) companies to distribute non-regulatory news releases into the public domain. Information required to be notified under the AIM Rules for Companies, Market Abuse Regulation or other regulation would be disseminated as an RNS regulatory announcement and not on Reach.

9 March 2023

SYMPHONY ENVIRONMENTAL TECHNOLOGIES PLC

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

USA d2w market update -

Better Earth signs exclusive supply agreement with TricorBraun

Symphony Environmental Technologies Plc (AIM:SYM), the global specialist in technologies that make plastic and rubber products smarter, safer and more sustainable, is delighted to announce that its USA distributor of d2w biodegradable plastics technology for nutritional supplement bottles, Better Earth LLC ("Better Earth") has signed an exclusive supply agreement with TricorBraun for its BioBottles(TM) brand of polyethylene bottles for the nutraceutical industry (the "Agreement").

TricorBraun is a global packaging company, and North America's largest distributor of primary packaging. It operates from more than 100 locations across the Americas, Europe, Asia, and Australia. TricorBraun sold over 8 billion containers in 2022 and is working jointly with Better Earth, supporting its exclusive Agreement with a sales and marketing campaign in the US and Canada.

See https://www.tricorbraun.com

Symphony entered into a two year exclusive USA-focused, d2w supply contract with Better Earth in February 2022. Better Earth subsequently launched its nutritional supplement bottles, caps, and scoops using Symphony ' s d2w biodegradable technology under Better Earth ' s BioBottles(TM) brand "Plastic IQ(TM) Technology". In November 2022, Symphony and Better Earth entered into a supplementary d2w supply contract extending the product scope to nutraceutical products, and expanding authorised geographies to include Canada.

Michael Laurier, CEO of Symphony, said:

"I am delighted to report that sales of d2w to our strategic partner Better Earth are expected to increase significantly in 2023 and beyond. Working with partners such as Better Earth and - by extension - with global packaging leader TricorBraun - Symphony is well placed to capture a share of the US and Canadian bottle markets, with additional verticals in the bottle market still available to target."

"More generally, partnerships such as these speak to an increased awareness in key markets of the efficacy of our d2w biodegradable technology. "

The owners of Better Earth, Adam Ackerman and James Van Brocklin, said:

" Our mission is to develop technologies that turn ordinary plastic products into earth-friendly materials at the end of their useful lives and we plan on doing this one product at a time. That ' s why we are delighted to be growing our commercial relationship with Symphony. By incorporating Symphony ' s d2w biodegradable technology in our BioBottles(TM) we are able to deliver positive change in the bottling industry and look forward to delivering sustainable bottling solutions for our key customers such as TricorBraun."

Rosalynd Resendiz, Vice President, Supply Chain, TricorBraun said:

"We are focused on offering sustainable packaging options for our customers-solutions that help protect both our customers' products and the planet. We are pleased to partner with Better Earth and Symphony to deliver a sustainable yet cost-effective solution."

Enquiries

 
 Symphony Environmental Technologies Plc 
 Michael Laurier, CEO                         Tel: +44 (0) 20 
                                               8207 5900 
 Ian Bristow, CFO 
 www.symphonyenvironmental.com 
 
 Zeus (Nominated Adviser and Joint Broker) 
 David Foreman / Kieran Russell (Investment   Tel: +44 (0) 161 
  Banking)                                     831 1512 
 Dominic King / Victoria Ayton (Corporate     Tel: +44 (0) 203 
  Broking)                                     829 5000 
 
 Hybridan LLP (Joint Broker) 
  Claire Louise Noyce                           Tel: +44 (0) 203 
                                                764 2341 
 

NOTES TO EDITORS:

About Symphony Environmental Technologies Plc

www.symphonyenvironmental.com

d2w- 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.

See https://www.symphonyenvironmental.com/additives/biodegradable-plastic/

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 d(2) w(R) 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.

d(2) p- The Group has also developed a range of additives, concentrates and masterbatches marketed under its d(2) p(R) ( " 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.

d(2) p products also include odour, moisture and ethylene adsorbers as well as other types of food-preserving technologies. The Group has also launched d(2) p anti-microbial gloves, facemasks, and toothbrushes and is developing a range of other d(2) p 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 Biodegradable Plastics Association (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.

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END

NRAUPURUWUPWGBR

(END) Dow Jones Newswires

March 09, 2023 02:00 ET (07:00 GMT)

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