Plastic pollution of the open environment is a worldwide problem and the reason why campaigners around the world are wanting to ban or tax plastic bags.
In January, the European Union revealed plans for all plastic packaging on the EU market to be recyclable by 2030.
In January, Theresa May unveiled a plan to eliminate all avoidable plastic waste by 2042.
WATCH: Pakistan’s plastic pollution push ‘a major step forward’, says Symphony Environmental
Symphony Environmental Technologies plc (LON:SYM) believes it has a solution with its biodegradable plastics additive, d2w.
The company has developed and produces this controlled-life plastic, the only product of its type to be awarded an internationally-recognised eco-label.
The d2w masterbatch is added at the plastic manufacturing stage, and product containing d2w behaves like a conventional product.
After its service life, the bag or packaging may end up in the open environment.
The d2w then takes effect and the product begins to degrade in the presence of oxygen, to eventually nothing more than carbon dioxide, water and biomass.
“This technology is available. It works. It is not expensive and does not interrupt the supply chain,” said Bob Wigley, a non-executive director of Symphony.
Scientists at the Technical Research Institute of Sweden and the Swedish University of Agricultural Science found that plastic products with d2w had 91% biodegradation within 24 months.
More countries to adopt biodegradable plastic
Worry over the amount of waste plastic and especially microbeads in the environment has seen some countries make oxo-biodegradable plastic additives compulsory.
In April, Symphony welcomed news that the authorities in Pakistan's Sindh province are to get tough on polluters.
The Supreme Court of the Sindh Province ordered the government to enforce The Sindh Environmental Protection Act and that the police have been directed to act against those who violate it.
“There are 11 governments that have now made it law that if you want to manufacture plastic in their country or import plastic to their country you have to incorporate an additive like d2w in it,” said Wigley.
Michael Stephen, deputy chairman of Symphony, said that the flaw with recycling plastic is that once it has escaped into the open environment, and especially into the oceans, it can’t be collected for recycling.
“For this reason, we should stop using old-fashioned plastic,” he told Sky News.
A public-opinion poll by YouGov found that 88% of people would support UK’s transition to biodegradable plastic.
Ongoing growth
Symphony’s results reflect the increase interest in biodegradable plastic. Company’s revenues rose 22% to £8.3mln in 2017 from £6.8mln a year ago, while underlying profits before R&D jumped 58% to £1.2mln from £0.76mln.
Pre-tax profit soared by 250% to £430,000 even after an additional £110,000 spent on research to £625,000.
Most of the revenues still derive from d2w and are earned mainly outside of the EU and the United States.