Symphony Environmental Technologies PLC (AIM:SYM) said it has seen a "strong and growing momentum" in the commercialisation of its product pipeline.
The AIM listed company, which specialises in technologies that make plastic and rubber products smarter, safer and more sustainable, yesterday announced a contract to supply its d2p enhanced bread packaging technology to Grupo Bimbo, the western world's largest bread manufacturer.
And in a statement issued ahead of today’s AGM, interim chairman Nicolas Clavel said the company’s d2p antimicrobial glove development with Meditech is “progressing well through the certification process”, with full EU and UK certification anticipated by the end of the third quarter of this year.
“Certification of this antimicrobial product will allow the EU and UK sales teams to complete current negotiations for anticipated deliveries before the end of the year and open new sales opportunities,” Clavel noted.
He also said Symphony’s Indian joint venture with Indorama Corporation, which has been selling small amounts of d2w biodegradable masterbatch, is on track to generate “much larger sales” during the fourth quarter.
Earlier this week, the company announced a legal win in Peru that acknowledged a clear distinction between oxo-degradable and oxo-biodegradable technologies, with official confirmation that oxo-biodegradable technology does not leave microplastics behind.
“We are confident that this confirmation will reassure manufacturers and end-users alike as to the validity of d2w as a cost-effective biodegradable alternative to ordinary plastic,” said Clavel.
“Our local distributor expects that this will generate new d2w customers and increased sales in Peru, and we believe this should also be the case for the whole Latin American region.”