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Biome Technologies PLC secures key contract to accelarate US sales of coffee-pod filtration material

“It is anticipated that this will lead to significant additional revenues for the Group Bioplastics division during 2021,” the company said

() said it secured a key contract with a second US end-customer to accelerate the commercialisation of its proprietary compostable coffee-pod filtration material. The deal is expected to support a “significant” portion of Biome’s anticipated revenue growth in 2021 and beyond.

Biome – a leading developer of highly functional, naturally based plastics – identified this project as the most important growth driver for 2021.

Initial orders enabled the unnamed customer to test Biome’s material extensively in the production environment. This testing was successful and commercial production for consumer use began in the first quarter of this year.

The end-customer has now ordered further equipment, valued at about US$70,000 and to be made by Biome’s Stanelco RF Technologies division, that will help to unlock the use of Biome’s compostable filtration material on a significant portion of the customer’s installed capacity.

“It is anticipated that this will lead to significant additional revenues for the Group Bioplastics division during 2021,” the company said.

“This important customer commitment, and the commercial progress described, supports the board’s expectations of the continued rapid growth of the Bioplastics division and the current market expectations for the group,” Biome said.

Read More: Biome Technologies PLC secures key contract to accelarate US sales of coffee-pod filtration material

2021-03-23 04:03:00

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