Symphony Environmental Technologies to capitalise on global war on plastic
'Significant revenue uplift' expected in 2019
Rising interest in d2w technology from the Middle East
What Symphony Environmental Technologies does:
Its core d2w oxo-biodegradable technology contains a mixture of salts that is added to raw plastic in the factory.
Within two years, plastic containing d2w will biodegrade so long as it is exposed to oxygen.
Symphony’s d2p technologies provide protection against bacteria, fungi, insects, corrosion, odours, and fire. Applications of d2p include anti-microbials, insecticide, flame retardant, odour and moisture adsorbers, rodent repellents and corrosion inhibitors.
The company also makes d2t tag and trace technologies that allow customers to determine the authenticity of their plastic packaging and products.
d2trace is a masterbatch technology that is invisible but can be read using portable d2Detector equipment while the d2tag is a microtag, which smaller than a grain of salt with more than 1 billion unique codes for authentication and brand protection.
- Last year revenues gained 6.5% to £8.8mln, driven by a near 200% jump in sales of anti-microbial products to £930,000.
- Symphony has won a first commercial order for d2p anti-insect technology, while discussions are underway for Eranova, a plastic from algae product.
- The group is seeing increasing interest for d2w products from the Middle East, with Saudi Arabia having passed a law banning all single use plastic bags except those made with oxo-biodegradable materia
- Ten governments globally have mandated that certain plastic products must contain oxo-biodegradable additives, which the basis of its d2w technology.
- Symphony expects d2w revenue of at least £8.9mln in 2019.
Symphony is hoping to capitalise on the recent push by national governments and companies to eliminate plastic waste, much of which is currently polluting the planet’s oceans.
The group said while the timing of orders for d2w is currently unclear, it expects a “significant revenue uplift” in 2019.
“I think we’re really in a good place at the moment, we’re in a world that wants a solution to plastic pollution,” said chief executive Michael Laurier.
He added: “We’re pretty optimistic, we’ve got countries that are passing legislation for this technology.”
Laurier believes the group is reaching a “pivotal point in its development”.
“In particular, our Middle East market is increasing the number of products which must be made with our d2w type of oxo-biodegradable plastic technology, whilst at the same time substantially improving their enforcement process."