News

IDROPLAX WINS KEY REPEAT US ORDER FROM OIL & GAS INDUSTRY

03 August 2006

SPDG Technologies plc (OFEX:SPDG) is  pleased  to  announce  that  its  wholly-owned Italian subsidiary Idroplax - a specialist in producing biodegradable  plastics - has secured a significant $90,000 repeat order from a leading US oil services company.

The Oil & Gas sector represents a key market being targeted by Idroplax following its acquisition by SPDG Technologies in 2005. The product ordered by the US company, is a perforation ball sealer. This  is a patented product which is  pumped  down  an  oil  well  in  large  numbers and forced  into  unblocked perforations under pressure, thereby diverting  the  treatment more effectively into all or most of the remaining perforations. After performing their task, they dissolve and biodegrade, avoiding all inconvenience caused by traditional rubber or collagen ball sealers, which can re-emerge at any time and interrupt the oil flow into the well.

This order represents the first tangible result of Idroplax's newly implemented Quality Control systems and the revamping of its R&D function in collaboration with the University of Pisa's Department of Chemistry and Industrial Chemistry. The Department is headed by Professor Emo Chiellini. As author of over 400 publications and some 25 patents he is regarded as one of the world's foremost experts on polymers. Idroplax and the University are now continuing to work closely on a number of European projects, and are developing new applications together.

Michael Cunningham, Chief Executive Officer of SPDG Technologies plc, commented:

"We are delighted by this latest order as it is a direct result of the improvements we have initiated in Idroplax's operations.  We now look to capitalise further on the significant opportunities presenting themselves in both the industrial and consumer markets for Idroplax's staple biodegradable plastic products."