23 May 2007
The London Stock Exchange is pleased to welcome Plantic Technologies to AIM.
Plantic is an Australian bioplastics company which has developed an entirely biodegradable, totally organic alternative to conventional plastics based on non-genetically modified corn.
With offices in Australia, the U.K. and Germany, and major commercial partners and customers around the world, Plantic is part of new breed in technology companies working to deliver more environmentally friendly products and processes, which also deliver performance and cost benefits.
The institutional placing raised in the order of £20 million. The funds are intended to drive development projects which will further extend the use of Plantic materials from the food, packaging and consumer goods industries where it was originally introduced, into a wide range of fields including films and functional resins such as gas barrier layers in containers and films. Longer term, the company’s patented technology allows for potential applications stretching across the entire horizon of conventional plastics.
CEO and Managing Director, Grant Dow, said
“Globally relevant innovation that addresses international problems and needs will be more expeditiously fulfilled through global fund raising. Given our successful track record in Europe, it was as natural as our technology to choose to join the London Stock Exchange. Our goal is to redefine the nature of plastics across the board and around the world”.
Libertas Capital Group acted as Nomad and broker to Plantic
and Pelham PR as the financial PR.