Biome Technologies is based in Southampton and is the mother company of Biome Bioplastics. Their share rose 13 % last Monday. The reason is that their revenue grew 43% in the first half of 2018.
They made £4.3mln/ €4.82 mln / $5.64 mln in the first six months with £2.3mln in cash on their bank account, while they only did £3mln in the first six month of 2017. The group is now estimated to be worth £10.6mln / €11.88 mln / $13.9 mln.
Reasons Why Results Are Good
- demand for biodegradable coffee cup are booming;
- bioplastics’ receives more and more attention in mainstream media;
- public awareness and consumer behaviour around recycling and retail packaging is changing.
UK Recycling Rate
UK government’s Department for Environment, Food and Rural Affairs (Defra) says that UK recycling rates have doubled from 31% in 1998 to 64% in 2017. The EU target is 55%.
Problem with Recycling and Recycling Rates
There’s no way to know if and /or how much of the ‘recyclable’ waste ends up in landfills or is incinerated after it is exported. It is hard to know how the energy used to process European waste is generated in the land where waste is exported. For instance:
European recyclable waste used to be exported to China in the past where it was processed. First it is hard to know what happened in China: was the waste recycled, incinerated or send to landfills. Secondly, how do we know if the energy used by China to process the waste wast not generated with coal?
Biome Bioplastics’s Motto and company description:
Intelligent plastics, naturally
Biome Bioplastics is one of the UK’s leading developers of intelligent, natural plastics. Our mission is to produce bioplastics that can challenge the dominance of oil-based polymers, and ultimately replace them completely.