TIDMSYM
RNS Number : 1455F
Symphony Environmental Tech. PLC
14 July 2021
The information communicated within this announcement is deemed
to constitute inside information as stipulated under the Market
Abuse Regulations (EU) No. 596/2014. Upon the publication of this
announcement, this inside information is now considered to be in
the public domain.
14 July 2021
SYMPHONY ENVIRONMENTAL TECHNOLOGIES PLC
("Symphony", "Company" or the "Group")
New enhanced and expanded FDA approval for Symphony's
antimicrobial food packaging
Symphony Environmental Technologies Plc (AIM:SYM), global
specialists in technologies that make plastic and rubber products
"smarter, safer and sustainable" is delighted to announce that it
has received approval from the U.S. Food & Drug Administration
("FDA") for its d(2) p antimicrobial food contact technology, for a
much greater loading of the d(2) p technology, and also wider use,
of Symphony's original bread-packaging approval under FCN no. 2031,
as announced on 26 February 2020 (RNS number: 1106E).
More specifically, the FDA's approval for Symphony's d(2) p
antimicrobial food contact technology, now applies to all types of
polyolefin and polyester film for wrapping bread, instead of just
linear low density polythene ("LLDPE"). Low density polythene
("LDPE") and polypropylene ("PP") are common packaging materials
which are both now included. Symphony's d(2) p technology is
intended to inhibit the growth of bacteria on the surface of the
packaging film and is vital to a very hygiene-conscious
industry.
This important wider approval, given under FCN no. 2139 without
limit of time, also allows up to three times increased loading of
d(2) p technology in what is an innovative treatment to multi-layer
plastic films most commonly used in bread-packaging, giving greater
flexibility, efficacy and ultimately, greater value for Symphony's
customers and Symphony itself. The Board therefore anticipate an
acceleration of the commercial process in the near term.
By virtue of the Federal Food Drug and Cosmetic Act (21 USC
348(h)(2)(C)) this approval is effective only for Symphony and does
not include any similar or identical substance manufactured or
prepared by a company or person other than Symphony.
According to the Global Data report 2019 (Bread & Rolls
(Bakery & Cereals) Market in the United States of America -
Outlook to 2023) the US Packaging/Industrial Bread & Rolls
Market by Volume in 2018 was 3,628 million kgs with a market value
of more than $20 billion. This represents a significant opportunity
for Symphony as it expects the d(2) p solution to prove a key
source of commercial differentiation for packaged bread
manufacturers.
Pre-commercial trials for the USA and a number of other
countries had already been progressing well in anticipation of
today's widened approval, with trial data showing significant
benefits from these further enhanced, and now FDA-approved, d(2) p
treated films.
Michael Laurier, CEO of Symphony, said " This innovative
multi-layer film treatment with d(2) p has been developed through
our customer-focused trials following last year's FDA approval. The
benefits for our customers were already significant and so we are
delighted to have obtained this more enhanced approval for our d(2)
p bread applications in the USA.
Symphony already generates significant revenues from the baking
industry from our d(2) w biodegradable technology in plastic
packaging, and we are seeing considerable interest in our
FDA-approved, d(2) p antimicrobial technology for bread packaging.
d(2) p is synergistic with d(2) w biodegradable technology and is
expected to be sold to many of our current customers as well as new
ones separately, or as a combined treatment.
The value proposition is now so much greater with better
efficacy and more flexibility. We are confident of announcing the
start of commercial sales during this year and in the medium term,
generating significant revenues from d(2) p treated films, not just
in the USA, but in other key regions of the world."
Enquiries
Symphony Environmental Technologies Plc
Michael Laurier, CEO Tel: +44 (0) 20 8207
5900
Ian Bristow, CFO
www.symphonyenvironmental.com
Zeus Capital Limited (Nominated Adviser and
Joint Broker)
David Foreman / Nick Cowles / Kieran Russell Tel: +44 (0) 161
(Corporate Finance) 831 1512
Dominic King / Victoria Ayton (Sales) Tel: +44 (0) 203
829 5000
Hybridan LLP (Joint Broker)
Claire Louise Noyce Tel: +44 (0) 203
764 2341
The person responsible for arranging the release of this
information is Michael Laurier, CEO of the Company.
NOTES TO EDITORS:
About Symphony Environmental Technologies plc
https://www.symphonyenvironmental.com
Symphony has developed a range of additives, concentrates and
master-batches marketed under its d(2) p(R) ("designed to protect")
trademark, which can be incorporated in a wide variety of plastic
and non-plastic products so as to give them protection against many
different types of bacteria, viruses, fungi, algae, moulds, and
insects, and against fire. d(2) p products also include odour,
moisture and ethylene adsorbers as well as other types of
food-preserving technologies. Symphony has also launched d(2) p
anti-microbial household gloves and toothbrushes (most recently in
Bahrain), and is developing a range of other d(2) p finished
products for retail sale.
Symphony has developed and continues to develop, a biodegradable
plastic technology which helps tackle the problem of microplastics
by turning ordinary plastic at the end of its service-life into
biodegradable materials. It is then no longer a plastic and can be
bioassimilated in the open environment in a similar way to a leaf.
The technology is branded d(2) w(R) and appears as a droplet logo
on many thousands of tonnes of plastic packaging and other plastic
products around the world. In some countries, most recently Saudi
Arabia, oxo-biodegradable plastic is mandatory.
The Group has complemented its d(2) w biodegradable product
range with d(2) c "compostable resins and products" that have been
tested to US and EU composting standards.
Symphony has also developed the d(2) Detector(R), a portable
device which analyses plastics and detects counterfeit products.
This is useful to government officials tasked with enforcing
legislation, and Symphony's d(2) t tagging and tracer technology is
available for further security.
Symphony has a diverse and growing customer-base and has
established itself as an international business with 74
distributors around the world. Products made with Symphony's
plastic technologies are now available in nearly 100 countries and
in many different product applications. Symphony itself is
accredited to ISO9001 and ISO14001.
Symphony is a member of The OPA (www.biodeg.org) and actively
participates in the Committee work of the British Standards
Institute (BSI), the American Standards Organisation (ASTM), the
European Standards Organisation (CEN), and the International
Standards Organisation (ISO).
Further information on the Group can be found at
www.symphonyenvironmental.com and twitter @SymphonyEnv See also
Symphony on Instagram. A Symphony App is available for downloading
to smartphones.
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