The information contained within this announcement is deemed
by the Company to constitute inside information for the purposes of
Regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations
2019/310.
22
May 2024
Biome Technologies
plc
("Biome", the "Company" or
the "Group")
Contract win for Stanelco RF
Division
Biome Technologies plc, a leading
bioplastics and radio frequency technology business, is pleased to
announce that its RF Technologies division
(www.stanelcorftechnologies.com)
has been awarded a further substantial contract win, the third so
far in 2024. The contract has a revenue value of
approximately £0.6m to supply two radio frequency welding systems
(the "Systems") for use by an international corporation in the
medical supply sector.
The Systems will use a modular
machine platform which integrates automation and RF welding in a
similar manner to the contract announced on 15 March 2024. They
will be built and tested at the Company's Marchwood, UK, facility
and subsequently combined with other production line equipment
supplied by the end-customer's chosen contractor before final
installation in a UK site.
Delivery of the Systems is scheduled
for within the 2024 financial year, with stage payments being
received against milestones during the contract. On this basis, it
is anticipated that all of the revenue for this project (excluding
a small quantum of warranty revenue) will be recognised in 2024,
which supports the Board's expectations for the RF Technologies
division for this year.
Paul Mines, CEO, commented, "This
further order continues the RF Technologies division's ongoing
strategy of diversification beyond its traditional strength into
new high-value medical market areas. Building on the three other
significant contracts announced since mid-2023 this gives the
division a comprehensive order pipeline for 2024."
-Ends-
|
For
further information please contact:
|
|
Biome Technologies plc
Paul Mines, Chief Executive
Officer
|
|
Rob Smith, Chief Financial
Officer
|
|
www.biometechnologiesplc.com
|
Tel: +44 (0) 2380 867 100
|
|
Allenby Capital
|
|
David Hart/Alex Brearley (Nominated
Adviser)
Kelly Gardiner/Tony Quirke (Sales
and Corporate Broking)
|
|
www.allenbycapital.com
|
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 ("Bioplastics") and Stanelco RF Technologies
Limited ("RF Technologies").
Biome Bioplastics is a leading
developer of highly-functional, bio-based and biodegradable
plastics. The division's mission is to produce bioplastics that
challenge the dominance of oil- based polymers.
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.biometechnologiesplc.com
www.biomebioplastics.com
and www.thinkbioplastic.com
www.stanelcorftechnologies.com