Revolymer confident despite loss

REVOLYMER, the Deeside polymer company which is developing a number of products, including nicotine chewing gum, has posted an interim loss but is upbeat on future potential.

The company has just agreed a global licence with the chemicals group Solvay which wants to use the polymers in cleaning material.

And earlier in the year it joined a consortium working on marine coatings to reduce drag. They are developing a coating that will minimise “marine fouling”, or the accumulation of marine organisms on ships’ hulls.

In the six months to the end of June revenue jumped from £22,000 to £366,000 and the pre-tax loss came down from £2.8m to £2.7m.

Chief financial officer Robin Cridland said: “The signing of our first commercial deal in consumer specialities with Solvay is a significant milestone for Revolymer and a validation of our technology in this business area.

“This deal, together with the announcement of a supply and distribution agreement for our nicotine gum products in the US, demonstrates the commercial progress the company is now making across all areas of the business.”