Biome Technologies plc (LON:BIOM), a leading bioplastics and radio frequency technology business, is pleased to announce that its Stanelco RF Technologies division has been awarded a contract to the value of £535,000 to supply twelve radio frequency heating systems into the food packaging sector in Continental Europe.
The contract underpins the Company’s expectations for the Stanelco division’s revenues in the first half of 2022. These systems have been ordered by an international packaging technology customer and will be designed, built, and functionally tested at Stanelco’s UK site before being integrated into high-speed packaging lines in Continental Europe in Q2 2022. Revenue stage payments will be received against milestones through H1 2022.
Paul Mines, Biome Technologies CEO, commented, “This new contract win in the food packaging space comes after the division’s recent contract wins in both the medical and fibre optic markets announced in Q4 2021. This substantial contract is a further step in the division’s continued progress to diversify its end-market applications and is a positive start to the New Year”.
