Biome Technologies plc (LON:BIOM), a leading bioplastics and radio frequency technology business, has announced that its Stanelco RF Technologies division has been awarded a contract to the value of £435,000 to supply two radio frequency heating systems to an international medical corporation.
The contract underpins the Company’s expectations for the Stanelco division’s revenues in the first half of 2022, when these systems will be designed, built, and functionally tested by Stanelco before being commissioned in one of the customer’s UK sites. Revenue stage payments will be received against milestones in H1 2022.
Paul Mines, Biome Technologies CEO, commented, “This new contract win in the medical space is a significant achievement for the team and comes after the division’s recent contract of £247,000 for two fibre optic furnaces also for the first half of 2022. This new medical contract is reflective of the increase in enquiry activity noted in previous announcements and is a substantial step in the division’s continued efforts to increase its range of applications beyond fibre optics”.