Biome Technologies () is mulling a move into the emerging area of bio-based materials through the use of synthetic biology.
The bioplastics group has been developing new applications for its intellectual property following the sale of its half of its Biotec joint venture in October.
Biome said it has a small number of early stage collaborations with both academic and industrial partners in the bio-based materials area. It has applied for government funding to accelerate this in 2013.
Overall, Biome said its financial performance in 2012 was in line with expectations.
Development of a high performance single-use food service product is progressing well and was market tested in the fourth quarter of 2012 with a full launch now underway with some 40 tonnes delivered already. A multi-layer sealing film for single-use coffee capsules has also been launched.
"While the expected growth trajectories of both of these applications are potentially strong, their actual performance will be clearer by the second half of 2013," Biome said.
Stanelco RF Technologies had a slightly subdued end to 2012 as a number of optical fibre furnace deliveries were delayed due to some turbulence in the Chinese fibre market. Good progress continues on the Durapipe project and delivery timing for ten pre-production units is being finalised.
Following the Biotec sale, Biome had net cash of ?6.3 mln at the end of December and the company said it is still considering returning excess funds to shareholders. This would require a re-organisation of capital, given the large accumulated losses and substantial share premium accounts.
The company said it would give an update on this with the preliminary results.
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