Biome Technologies RF division gains traction in new application areas

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Biome Technologies plc (LON:BIOM) has today announced that its Stanelco RF Technologies division (www.stanelcorftechnologies.com) has signed three contracts, with an aggregate revenue of £117k, that will provide RF process heating solutions and equipment to customers in diversified industrial applications.

The contracts, with two new and one previous customer from the aerospace and medical sectors, provide a further positive indication that small capital goods purchases are being made by specific sectors of UK industry and that the division’s efforts to grow a diversified revenue stream – beyond its traditional fibre optic cable market – are producing tangible results.

The revenues from these contracts will be realised across the remainder of 2020 and during 2021 and do not impact on the Board’s expectation for 2020, during which orders from the fibre optic market have been subdued.

Paul Mines, Biome Technologies’ Chief Executive commented:

“These orders provide some encouragement that we are making positive progress in RF’s strategic aim of diversifying its revenue streams.”

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