BURLINGTON, ON, May 9, 2017 /CNW/ - EcoSynthetix Inc. (TSX: ECO) ("EcoSynthetix" or the "Company"), a renewable chemicals company that produces a portfolio of commercially proven bio-based products, today announced that it has secured a commercial contract with Stora Enso for the Company's EcoSphere® biolatex® binder, which targets the paper and paperboard market. Stora Enso is a leading global provider of renewable solutions in packaging, biomaterials, wood and paper in global markets. The contract relates to the use of EcoSphere for packaging board formulations at one of Stora Enso's major European mills.
"Our belief is that everything that is made with fossil-based materials today can be made from a tree tomorrow," said Karl-Henrik Sundström, CEO of Stora Enso. "EcoSynthetix' technology is ideally suited to this objective as we transition to a global renewable materials growth company. EcoSphere provides us value and performance as a bio-based binder for our fibre-based packaging applications."
"It's a great opportunity and proof point to have EcoSphere adopted by a global packaging and sustainability leader like Stora Enso," said Jeff MacDonald, CEO of EcoSynthetix. "This win demonstrates the capability of EcoSphere to provide packaging manufacturers with an innovative and cost-effective option to deliver on their sustainability commitments. For Stora Enso, we believe this enables them to offer some of the world's largest consumer packaged goods companies a packaging product with the highest possible renewable content and significantly reduced volatile organic compounds ("VOCs"). As a global manufacturer of a diverse product line, we look forward to building on this initial relationship with Stora Enso."
EcoSphere is a biolatex polymer derived from corn that is transformed using EcoSynthetix' proprietary extrusion process to form a binder for paper and paperboard applications. In addition to increasing renewable content and improving economics, EcoSphere helps to minimize VOCs in sensitive consumer products by reducing or eliminating the styrene-based coatings typically used in these products and improving retention of solvents to minimize their impact. EcoSphere is a bio-based coating derived from natural, renewable sources. It is fully recyclable and biodegradeable.
About EcoSynthetix Inc. (www.ecosynthetix.com)
EcoSynthetix offers a range of sustainable engineered biopolymers that allow customers to reduce their use of harmful materials, such as formaldehyde and styrene-based chemicals. The Company's flagship products, DuraBind™ and EcoSphere®, are used to manufacture wood composites, paper and packaging, and enable performance improvements, economic benefits and sustainability. The Company is publicly traded on the Toronto Stock Exchange (T:ECO).
SOURCE EcoSynthetix Inc.
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