Symphony Environmental acquires 8% of French bioplastics company

In the UK, Symphony Environmental Technologies announced that it has signed a collaboration agreement and commitment to a EUR500,122 strategic investment with Eranova for 8% shareholding.

Eranova has developed a unique technology and process which extracts starch from algae for use with other materials. The starch can be combined with other polymers to produce compounded resins which are compostable and biodegradable. These can be used to manufacture a wide range of finished products, In addition, the technology can be developed to produce biofuel, biopolymers, proteins for food and animal feed stock, as well as by-products for the pharmaceutical and cosmetic industries. Eranova is the applicant for PCT patent WO 2017/0463656 A1 and the application has been registered in several territories.