Symphony Environmental Technologies PLC (AIM:SYM) has welcomed the latest public consultation document from DEFRA (the UK government department for Environment, Food and Rural Affairs).
DEFRA has opted to exclude oxo-biodegradable plastic from its list of "frequently littered and problematic plastic."
The Scottish Government has likewise issued draft Regulations in November that do not list oxo-biodegradable plastic. Symphony said it views this as a major step in the right direction.
Symphony added it is also encouraged that the UK Government has given grants for the development of oxo-biodegradable technology (sometimes described as biotransformation), demonstrating an understanding that these technologies can reduce the problem of plastic litter that does not get collected for recycling.
DEFRA and the Scottish Government have now seen the evidence from the four-year Oxomar study sponsored by the French government proving that oxo-biodegradable plastics do biodegrade, even in the oceans, much more efficiently than conventional plastics. They have also seen the study by Queen Mary University London showing that the biodegradation of low-density polyethylene (LDPE) containing Symphony's d2w technology was 90 times greater than ordinary LDPE after 35 days. They are also aware that the European Chemicals Agency, after ten months' study was not convinced that oxo-biodegradable plastic created microplastics, Symphony added.
"We welcome the position taken by the UK and Scottish Governments, and we will now be putting more effort into explaining and marketing our d2w technology in the UK,” said Michael Laurier, the chief executive officer of Symphony.