Contract
This announcement contains inside information for the purposes of Regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310. With the publication of this announcement, this information is now considered to be in the public domain.
16 December 2021
Biome Technologies plc
("Biome", the "Group" or the "Company")
Substantial contract win for Stanelco RF Division
Biome Technologies plc, a leading bioplastics and radio frequency technology business, is pleased to announce that its Stanelco RF Technologies ("Stanelco") division ( www.stanelcorftechnologies.com ) has been awarded a contract to the value of £435,000 to supply two radio frequency heating systems to an international medical corporation.
The contract underpins the Company's expectations for the Stanelco division's revenues in the first half of 2022, when these systems will be designed, built, and functionally tested by Stanelco before being commissioned in one of the customer's UK sites. Revenue stage payments will be received against milestones in H1 2022.
Paul Mines, CEO, commented, "This new contract win in the medical space is a significant achievement for the team and comes after the division's recent contract of £247,000 for two fibre optic furnaces also for the first half of 2022. This new medical contract is reflective of the increase in enquiry activity noted in previous announcements and is a substantial step in the division's continued efforts to increase its range of applications beyond fibre optics".
-Ends-
For further information please contact: Biome Technologies plc
Paul Mines, Chief Executive Officer
Donna Simpson-Strange, Company Secretary
info@biometechnologiesplc.co.uk
Tel: +44 (0) 2380 867 100
Allenby Capital
David Hart/Alex Brearley (Nominated Adviser)
Kelly Gardiner (Sales and Corporate Broking)
Tel: +44 (0) 20 3328 5656
About Biome
Biome Technologies plc is an AIM listed, growth-orientated, commercially driven technology group. Our strategy is founded on building market-leading positions based on patented technology and serving international customers in valuable market sectors. We have chosen to do this by developing products in application areas where the value-added pricing can be justified and are not reliant on government legislation. These products are driven by customer requirements and are compatible with existing manufacturing processes. They are market rather than technology-led.
The Group comprises two divisions, Biome Bioplastics Limited and Stanelco RF Technologies Limited.
Biome Bioplastics is a leading developer of highly-functional, bio-based and biodegradable plastics. The company's mission is to produce bioplastics that challenge the dominance of oil-based polymers.
Stanelco RF Technologies designs, builds and services advanced radio frequency (RF) systems. Dielectric and induction heating products are at the core of a product offering that ranges from portable sealing devices to large furnaces for the fibre optics markets.
www.biomebioplastics.com and www.thinkbioplastic.com
www.stanelcorftechnologies.com
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
COMPANIES COVERED:
Latest directors dealings
- 1 day ago FRP Advisory Group
- 1 day ago Marks Electrical Group
- 1 day ago CLS Holdings
- 1 day ago QinetiQ Group
- 1 day ago Spectris