Symphony Environmental Technologies Plc (LON:SYM), the global specialist in technologies that make plastic and rubber products smarter, safer and more sustainable, has announced that following legal action by Symphony’s distributor in Peru, a clear distinction has been officially acknowledged between oxo-degradable and oxo-biodegradable technologies, and officially confirming that oxo-biodegradable technology does not leave microplastics behind.
The legal action against the Ministry of Production was heard before INDECOPI (Public National Institute for Free Competition and Protection of Intellectual Property) who resolved, and the Ministry admitted, that there is no bureaucratic barrier against oxo-biodegradable technology, because the prohibition in the 2021 Decree regulating biodegradable plastic bags was against oxo-degradable plastic and not against oxo-biodegradable plastic.
This legal outcome has significant implications for Symphony’s commercial growth in Peru and in Latin America generally.
In addition, it vindicates Symphony’s long-term and ongoing advocacy strategy in the region, based upon transparent and technically-led engagement with legislators and opinion-formers. Through this process the Company highlights the environmental benefit of Symphony’s scientifically-proven oxo-biodegradable technology.
Michael Laurier, CEO of Symphony Environmental said:
“This declaration in Peru is a significant event for Symphony, as for the first time in Latin America, a government institution has officially acknowledged the distinction between oxo-degradable and oxo-biodegradable technologies, and the fact that d2w does not create microplastics.
We are confident that this confirmation will reassure manufacturers and end-users alike as to the validity of d2w as a cost-effective biodegradable alternative to ordinary plastic. Our local distributor expects that this will generate new d2w customers and increased sales in Peru, and we believe this should also be the case for the whole Latin America region.”