What Symphony Environmental Technologies does:

Symphony Environmental Technologies PLC (LON:SYM) develops additives that make plastic biodegradable.

Its core d2w oxo-biodegradable technology contains a mixture of salts that are 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-microbial, insecticide, flame retardant, odour and moisture adsorbers, rodent repellents and corrosion inhibitors.

Tests are also underway into its efficacy against viruses such as COVID-19.

 

How it’s doing

Revenues for the first quarter ended 31 March 2020 increased by 56% to £2.4mln though symphony added it was impossible to asses yet how the coronavirus crisis would affect 2020 numbers.

Symphony’s cash at end-March was £1mln and on current forecasts the company does not expect to need any additional cash in the next 12 months.

 

Coronavirus

Independent testing of its anti-microbial technology d2p as an anti-viral barrier is ongoing, Laurier said, and will determine if it can be effective in a wide range of plastic products.

Satisfactory test results would enable d2p treated products to be sold to a wider market, the group said in the statement.

Tests specifically against coronavirus (COVID-19) will start as soon as independent laboratory capacity becomes available, Symphony added.

The company noted approval of d2p for use in bread packaging in the US is now on the Food & Drug Administration’s official website with some manufacturer trials now underway.

 

Inflexion points:

  • In February, the company received approval for its d2p antimicrobial bread packaging from the US Food and Drug Administration (FDA)
  • Tests underway for d2p as an anti-viral barrier
  • Specific testing of d2p against COVID-19 will start once a laboratory becomes available

 

Interview – chief executive Michael Laurier