The Abingdon Health PLC (LON:L ABDX) share price rallied 11.1% after announcing a new partnership with leading designer Morrama Ltd (Morrama), a certified B-Corp design agency based in the UK, to accelerate the development of plastic-free lateral flow housings.
YOUR CAPITAL IS AT RISK. 76% OF RETAIL CFD ACCOUNTS LOSE MONEY.
Abingdon Health and Morrama target to have their first plastic-free, compostable cassette (Eco-Flo) ready and available for customers within the next 12 months. The brand-new plastic-free cassette will be manufactured in the UK using renewable plant fibre moulding technology.
The new technology reduces CO2 emissions by 80% compared to the equivalent single-use plastic. The initial design will seek to offer a direct swap from traditional plastic cassettes, minimising any barrier for companies looking to reduce the impact of their assays and lower plastic use across the entire test kit by 62%.
The Eco-Flo Innovations team is already working on ways to remove or switch out the remaining plastic content in tests and other aspects of lateral flow product design, including the product packaging. The company is changing the decades-old technology used to design lateral flow tests, whose use soared globally after the COVID-19 pandemic.
Chris Yates, CEO of Abingdon Health plc, said: “We are delighted to be partnering with Morrama to support the development of innovative, environmentally friendlier components and packing solutions for the lateral flow industry. Alongside Jo and the team at Morrama, we are keen to lead this change and provide our customers with viable, sustainable alternatives to the traditional materials currently used.”
Jo Barnard, Founder and Creative Director at Morrama, added, “The development of Eco-Flo represents a vital step forward in reducing the environmental impacts of lateral flow testing, and we are incredibly excited to have Abingdon Health on board to accelerate this development and bring their years of expertise into the project. This could offer a simpler, more accessible, and more sustainable option, designed with people and the planet in mind.”
Abingdon Health share price.
The Abingdon Health (ABDX) share price edged 11.11% higher to trade at 12.50p, from Wednesday’s closing price of 11.25p.
YOUR CAPITAL IS AT RISK. 76% OF RETAIL CFD ACCOUNTS LOSE MONEY.