Symphony Environmental Technologies to capitalise on global war on plastic
'Significant revenue uplift' expected in 2019
Rising interest in d2w technology from the Middle East
What Symphony Environmental Technologies does:
Its core d2w oxo-biodegradable technology contains a mixture of salts that is added to raw plastic in the factory.
Within two years, plastic containing d2w will biodegrade so long as it is exposed to oxygen.
Symphony’s d2p technologies provide protection against bacteria, fungi, insects, corrosion, odours, and fire. Applications of d2p include anti-microbials, insecticide, flame retardant, odour and moisture adsorbers, rodent repellents and corrosion inhibitors.
The company also makes d2t tag and trace technologies that allow customers to determine the authenticity of their plastic packaging and products.
d2trace is a masterbatch technology that is invisible but can be read using portable d2Detector equipment while the d2tag is a microtag, which smaller than a grain of salt with more than 1 billion unique codes for authentication and brand protection.
- In August, Symphony’s partner firm, Mexican snack food giant Grupo Bimbo, presented new packaging using the company’s d2w brand of biodegradable plastic
- The company received a £1.93mln cash injection in July from Vincel Holdings, a firm owned by Indonesian billionaire Sri Prakash Lohia
- In an update ahead of its AGM in May, Symphony said it was confident of delivering results in line with expectations for 2019 as it expected “significant growth” in the second half of the year
- Symphony is expecting d2w revenue of at least £8.9mln in 2019
Interview – chief executive Michael Laurier
In a statement prepared for its May AGM, Symphony’s chairman Nirj Deva said the group believed it was “reaching a pivotal point in its development” due to oxo-biodegradable legislation in the Middle East and elsewhere.
“We believe that d2w is the most viable solution to help resolve the issue of plastic pollution of the environment,” Deva said, adding that Symphony’s d2w-branded plastics were a low-cost solution that acts as an “insurance policy” for plastic-based waste that escape into the open environment.
He said development of new products for each of the d2w biodegradable and d2p protective plastic technologies was continuing “at a satisfactory pace, and we remain encouraged by their growth prospects”.
With the shares trading at 9.5p as of 27 August, Symphony carries a market cap of £16.15mln.