Shares of Symphony Environmental Technologies plc (LON: SYM) rallied 7.74% after announcing that Health Canada had approved its d2p masterbatch packaging material for use in bread packaging within Canada.
The company noted that today’s approval came after the US Food & Drug Administration (FDA) issued a similar approval of its d2p material for use within the United States.
Symphony’s d2p packaging material is made of polyolefin and polyester, used as multiple films to wrap bread to minimise the chances of bacterial growth on bread and the packaging films’ surface.
Ready to put what you’ve learned into practice?
Try IG’s platform with £10,000 in virtual funds and practise trading
without putting your own money at risk.
Try IG with a demo account →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Learn the markets with IG Academy
Build your knowledge with IG Academy educational content, then use a
demo account to practise what you’ve learned on the IG platform.
Explore IG →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
See how trading works before risking real money
IG’s demo gives you access to thousands of markets and £10,000 in
virtual funds, so you can explore the platform and test your ideas first.
Open an IG demo →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Turn trading theory into practical experience
Learn with IG Academy, explore charts and market tools, and practise
strategies in a simulated trading environment before going live.
Start practising with IG →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Ready to take your learning further?
IG combines market education, analysis and an established trading platform,
giving you the tools to keep learning as you develop your trading skills.
Discover IG →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
D2p is a plastic additive that prevents the growth of moulds, mildew and other bacteria on bread packaging, which is crucial to ensure the bread sold to consumers does not result in various infections after being consumed.
Symphony environmental is dedicated to making plastics smarter, safer and more sustainable via proprietary biodegradable plastic technology (d2w) and plastic additives (d2p).
Michael Laurier, Symphony Environmental Technologies CEO, said, “We have been working for some time with customers in Canada, and approval from Health Canada now enables this project to proceed more quickly to commercialisation.”
Today’s rally pushed Symphony’s shares to new highs last seen in September 2020 and could trigger a further rally if the breakout is sustained. However, I do not see an excellent entry setup on its price chart at the moment.
*This is not investment advice.
Symphony Environmental share price.
Symphony Environmental shares rallied 7.74% to trade at 28.55p, rising from Thursday’s closing price of 26.50p.
