# Biome Technologies Stanelco RF Contract win

- Link: https://www.directorstalkinterviews.com/biome-technologies-stanelco-rf-contract-win/4121122052
- Published: 2023-06-22T07:17:11+01:00
- Author: Madison Wilson

**[Biome Technologies](https://www.directorstalkinterviews.com/company/biome-technologies-plc/biom.l)
plc** ([LON:BIOM](https://www.directorstalkinterviews.com/company/biome-technologies-plc/biom.l)),
a leading bioplastics and radio frequency technology business, has announced that
its Stanelco RF Technologies division (www.stanelcorftechnologies.com) has been 
awarded a contract with a revenue value of £452,000 to supply a novel induction 
furnace system to a global manufacturer of scientific glass products.

This System will utilise key elements of Stanelco’s induction furnace technology,
in a new application field, providing enhanced performance attributes and improved
operational effectiveness. It will be designed and built at the Company’s Marchwood,
UK, facility with installation and commissioning being completed at the customer’s
overseas production site.

Final completion of the project is expected in the 2024 financial year with the 
possibility of some revenue being recognised in 2023, under IFRS-15. Specific revenue
timing will depend on availability of key components that will be identified during
the design phase. Stage payments will be received against milestones during the 
contract. The project’s revenues and cash-flows are included in management’s existing
expectations and shareholders will be advised via the Company’s trading updates,
as revenue timing becomes more defined.

> **Paul Mines, Biome Technologies ****CEO, commented**, “This contract win is a
> significant achievement for our Stanelco RF Division and the first major contract
> with this customer and in the sub-sector of the scientific glass industry. This
> order results from Stanelco’s ongoing strategy of diversification into adjacent
> markets and is one of a number of opportunities that are currently in contract
> discussions”.

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