Revolutionary Removable Chewing gum set to Launch in Europe
By Revolymer, PRNEMonday, May 2, 2011
Revolymer(R) Announces Successful Closure of a GBP5.8Million Subscription and European Food Safety Authority clearance
LONDON, May 3, 2011 - Revolymer Limited ("Revolymer(R)" or the "Company"), the
UK-based revolutionary polymer company, is pleased to announce that it has
successfully completed a subscription of ordinary shares and A ordinary
shares, supported and managed by XCAP Securities plc, raising funds over
GBP5.8million (before expenses). This total is made up of approximately
GBP2.0m of ordinary shares issued to Enterprise Incentive Scheme eligible
investors and approximately GBP3.8m of A ordinary shares issued to a mixture
of existing and new investors.
The Company has also received a positive opinion from the
European Food Safety Authority ("EFSA") on the use its Rev7(R) polymer in
chewing gum. The gum, already on sale in close to 500 stores in the United
States, is a revolutionary product that uses Revolymer(R)'s patented polymer
technology to produce a great tasting gum which can be removed readily from
clothes using soap and water. Tests have shown that more than 50% of REV7TM
gum can be removed by conventional street cleaning; with the gum that is
washed into the drains degrading into minerals, biodegradable products and
inert materials.
In the UK alone, over 25 billion pieces of conventional gum
are sold every year, which either end up on the streets or in landfill. In
terms of environmental pollution, this is equivalent to at least 2 billion
plastic bags. Considering management estimates of attempted removal costs
from the UK streets of over GBP150million per year for local councils,
Revolymer(R)'s technology can solve a very costly and challenging problem and
the consumer can help the environment without sacrificing quality.
Roger Pettman, CEO of Revolymer(R) said:
"Revolymer(R) is going from strength to strength and is
rapidly expanding in the US, with REV7TM already available in nearly 500
stores. With this funding in place we are now well placed for our European
roll-out starting in 2011. While it will be approximately 6 months before the
product is first available on the shelves, the EFSA ruling was crucial in
ensuring European consumers can be part of the gum revolution. This funding
is also a positive step towards the IPO of the Company in the near future."
For more information on Revolymer(R) and REV7TM please visit:
www.revolymer.com/removable_gum
www.rev7gum.com
Notes to Editors:
1) In testing using mild agitation in water, Revolymer(R) found
that its confectionery gum removes readily from a range of surfaces
(including paved sidewalks, carpets, textiles, transport fabrics and
clothing materials), and disintegrates into a fine powder within 6
months. See www.revolymer.com for more details.
2) Revolymer(R) is a rapidly growing technology development
company which has developed a unique portfolio of products and formulations
for the FMCG industry. Using commercially available and inexpensive polymers,
Revolymer(R) applies its innovative proprietary approach to formulate novel
polymers to revolutionise existing consumer products.
For more information please contact Callum Laidlaw at
Burson-Marsteller on +44(0)20-7300-6136 or callum.laidlaw at bm.com
Tags: London, May 3, Revolymer, United Kingdom