Business
Grant update
Grant update.
About this update from Symphony Environmental Technologies Plc
[{"type":"text","content":"\n RNS Number : 2851V Symphony Environmental Tech. PLC 27 May 2008 \n \n\n\n\n\n\n\n\n\n\n27 May 2008\n\n\n\n\n\nSYMPHONY ENVIRONMENTAL TECHNOLOGIES PLC\nOffer of Grant\n\nSymphony Environmental Technologies Plc ('Symphony'), the degradable plastics and waste-to-energy Group, announces that it's wholly owned subsidiary, Symphony Energy Ltd (the 'Company') has now been officially advised by the Technology Strategy Board that the Company and its consortium partners have been offered a £1.19m grant for collaborative research and development in the area of High Value Manufacturing, for the consortium's Rubber Product Enhanced Recovery Technology project ('RµPERT'). \n\nThe Company is the lead partner; the other members of the consortium are Imperial College London, ABB Limited (Robotics Division), Hughes Pumps Limited, Credowan Limited (Subsidiary of Cobham Plc) and ARTIS (a business of Avon Rubber Plc). The partners were chosen for their expertise which wholly supports the collaborative research and development of microwave pyrolysis and rubber product enhanced recovery. \n \nThe Grant will support a substantial part of Symphony's external project cost through the Partners but excludes direct management cost. The Grant project is subject to reaching and completing further intellectual property and other agreements with the consortium members.\n\nThe Company now has until the 1 July 2008 to accept the offer and would anticipate a project launch within the next three months.\n\nMichael Laurier, CEO of Symphony, and Robert Nash, MD of Symphony Energy said:\n\n'We are delighted to be working with all the partners on this exciting programme and look forward to giving updates as we progress through the stages and bring the technology to commercialisation'. \n\nDr. Geoff Fowler, Research Fellow of Imperial College London commented:\n\n'This award builds on the close working relationship between my Research Group and Symphony and we are delighted to be a key part of the team. The opportunities offered by the award are significant - both in terms of the research and the environmental benefits which innovative, energy efficient, material reco...