REG - Biome Technologies - Contract win for Stanelco RF Division

Biome TechnologiesAnnouncement

22/05/2024 14:30

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RNS Number : 5107P  Biome Technologies PLC  22 May 2024

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 (http://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 (http://www.biometechnologiesplc.com)
www.biomebioplastics.com (http://www.biomebioplastics.com) and
www.thinkbioplastic.com (http://www.thinkbioplastic.com)
www.stanelcorftechnologies.com (http://www.stanelcorftechnologies.com)

 

 

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