LONDON - Symphony Environmental Technologies Plc (AIM:SYM) has launched a new product, a natural and biodegradable resin named NbR, suitable for packaging and agricultural films. This innovation, developed by the technology firm specializing in making plastic and rubber products smarter and more sustainable, aims to reduce the reliance on fossil-derived plastics.
The NbR resin incorporates natural minerals to diminish the use of fossil-derived polyethylene or polypropylene in plastic production by 20%, also promising to cut CO2 emissions. Symphony emphasizes that the new resin will not increase material costs for customers and supports their efforts to lessen environmental impact.
NbR's development began in 2011, with advancements made throughout 2024 to adapt to the growing demand for sustainable plastic alternatives. The resin can biodegrade safely without leaving microplastics, addressing concerns about plastic waste in the environment.
Symphony's CEO, Michael Laurier, stated, "This is a major innovation as it will make an environmental difference by reducing the fossil-derived content of plastic products by 20%, and cutting CO2 emissions." He highlighted that NbR-made products could be recycled like traditional plastics but would biodegrade within months if discarded, avoiding decades-long persistence in nature.
The announcement comes as the global resin market, which NbR targets, is projected to grow from $556.00 billion in 2023 to $859.27 billion by 2032, with a compound annual growth rate of 5.0%. Symphony's new product aligns with EU and FDA-USA Packaging (NYSE:PKG) Food Contact Regulations and meets international standards for biodegradability and non-toxicity.
Symphony has opted not to patent NbR to maintain formulation confidentiality but is applying for trademarks. The company, a member of The Biodegradable Plastics Association (BPA), also offers other plastic technologies, including d2w for oxo-biodegradable plastics and d2p masterbatches for antimicrobial and other protective properties in plastics.
This announcement, based on a press release statement, reflects Symphony's ongoing commitment to sustainability and innovation in the plastics industry.
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