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RNS Number : 3976F
Biome Technologies PLC
19 February 2015
 



19 February 2015

 

Biome Technologies plc

("Biome", "the Company" or "the Group")

 

 

Biome Technologies awarded grant funding in Industrial Biotechnology Catalyst competition

 

 

Business Secretary Vince Cable has announced the winners of a £40m pound competition designed to bring innovative UK industrial biotechnology projects to market.

 

The list of winners includes a consortium led by Biome Technologies in partnership with the University of Warwick, the University of Leeds and the Centre for Process Innovation (together "the Consortium"). The Consortium will undertake a three year project entitled "Bioplastic polymers based on aromatic dicarboxylic acids derived from lignin". The project will build on the Biome's previous successful research into deriving organic chemicals from lignin for the manufacture of bioplastics.

 

With a total project cost of £1.7m, Biome will contribute £0.2m of resources toward the project. The funding is available through the Industrial Biotechnology Catalyst, which provides funds to support application-focused, integrated cross-disciplinary research projects involving collaborations between the academic and business communities.

 

The development follows the Group's recent announcement reporting that substantial progress has been made towards obtaining further grant support from Innovate UK and that finalisation of a new grant was expected in the near future.

 

Further information can be found on the website of the Company's bioplastic division at http://www.biomebioplastics.com/.

 

-Ends-

 

 

For further information please contact:

 

Biome Technologies plc


Paul Mines, Chief Executive Officer


Declan Brown, Group Finance Director


www.biometechnologiesplc.com  

Tel: +44 (0) 2380 867 100

Allenby Capital


David Hart (Nomad)

Chris Crawford/Kelly Gardiner (Broker)


www.allenbycapital.com

Tel: +44 (0) 20 3002 2070

FTI Consulting


Oliver Winters

www.fticonsulting.com

Tel: +44 (0) 20 3727 1535

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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