LONDON (ShareCast) - (Sharecast News) - Biome Technologies announced on Wednesday that its bioplastics division has received an order worth $0.55m (£0.43m) from an existing major client operating in the United States packaging market.
The AIM-traded firm said the order, which would support the division's financial expectations for the year, was the largest single order to date for the company's heat-stable and compostable bioplastic for coffee pod applications, which was first commercialised in 2019.

Deliveries under this order are due to be completed in the next two months.

This firm explained that the new material takes less than three months to compost in industrial composting environments, and was designed to provide the structure for coffee pods, while preventing deformation when exposed to hot water brewing conditions.

It was developed in the division's research and development facility in Southampton, and was now being manufactured in the US on a regular production basis in commercial quantities.

"We believe that there is significant commercial potential for this coffee pod material, as brands in the hot beverage sector move to bio-based and compostable solutions to transform the sustainability of their products," said chief executive officer Paul Mines.

At 1316 BST, shares in Biome Technologies were up 0.01% at 190.01p.

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