- SDTC grant to fund large-scale demonstration facility -
BURLINGTON, ON, Jan. 25, 2012 /CNW/ - EcoSynthetix Inc. (TSX: ECO), a renewable chemicals company that
produces a family of commercially proven bio-based products, today
announced that it has secured $2.1 in funding from Sustainable
Development Technology Canada (SDTC). This funding will support a
project for the further development of EcoSynthetix's novel EcoMer® bio-based monomer platform that has the potential to address a $30
billion target market across multiple industrial applications such as
toners, water-based inks, water-based paints and coatings, surfactants
and Pressure Sensitive Adhesives (PSAs).
"Our Government is committed to supporting clean technology in Canada as
an effective measure to reduce greenhouse gas emissions and create
high-quality jobs for Canadians," said the Honourable Joe Oliver,
Minister of Natural Resources. "This project demonstrates our
leadership in driving clean technology innovation to help create viable
new industries for Canada's economy."
"Petroleum-based polymers play a central role in modern society and
multiple industries are actively seeking lower cost alternatives to
these products. The commercialization of our bio-based EcoMer® solution will expand our addressable market from roughly $6 billion to
$30 billion annually and offer a low cost, green solution to industries
that currently have no viable alternative to petroleum," said John van
Leeuwen, Chairman and CEO of EcoSynthetix. "We will be working closely
with two key potential customers for EcoMer® who possess formulation and engineering expertise to more efficiently
develop and commercialize this product. The industrial community
greeted EcoMer® with substantial interest at pilot scale and the demand for low cost,
bio-based alternatives will continue to grow across all of our target
markets as petroleum prices remain high and volatile."
"It is simply undeniable that clean technologies bring tremendous
benefits to Canadians, and the only way for these benefits to
materialise is once the technology passes through the research and
development phase and into commercialization," said Vicky Sharpe, SDTC
President and CEO. "SDTC is proud to play a role in bringing
EcoSynthetix's EcoMer® to the market, answering the call for a cleaner way to do business."
EcoMer® is a bio-based monomer that can be used to partially replace a wide
variety of petrochemical monomers in the manufacture of traditional
polymers. The addition of EcoMer® to these formulations makes the resulting polymers ''greener'' and gives
them new functionality. EcoStix®, which is produced by chemically reacting EcoMer® with an acrylic monomer, functions as a PSA with customizable properties
for applications such as fruit labeling, recycling-friendly materials
such as tapes, paper labels and postage stamps, and high temperature
resistant labels for automotive (''under the hood'') applications.
The waterborne sugar-acrylic adhesives and resins that EcoMer® can be developed into are considered ''Generally Recognized As Safe'' by
the U.S. Food and Drug Administration and contain no Volatile Organic
Compounds (VOCs), which make suitable as a broad-based building block
material in the chemical industry as they are safer to use than
About EcoSynthetix Inc. (www.ecosynthetix.com)
EcoSynthetix Inc. is a renewable chemicals company specializing in
bio-based products that can be used as inputs in industrial
manufacturing for a wide range of consumer products. The Company's
products offer a reduced carbon footprint and are marketed primarily on
the basis of lower cost, stable pricing and equal or superior
performance. EcoSynthetix's lead product, ECOSPHERE® BIOLATEX® binders, is used commercially by a number of the global top 20
manufacturers in the coated paper and paperboard industry.
About SDTC (www.sdtc.ca)
SDTC is an arm's-length foundation created by the Government of Canada
as part of the Government's commitment to create a healthy environment
and a high quality of life for all Canadians.
SDTC operates two funds aimed at the development and demonstration of
innovative technological solutions. The $590 million SD Tech Fund™
supports projects that address climate change, air quality, clean
water, and clean soil. The $500 million NextGen Biofuels Fund™
supports the establishment of first-of-kind large demonstration-scale
facilities for the production of next-generation renewable fuels.
SDTC operates as a not-for-profit corporation and has been working with
the public and private sector including industry, academia,
non-governmental organizations (NGOs), the financial community and all
levels of government to achieve this mandate.
Forward Looking Statements
Certain statements in this Press Release constitute "forward looking"
statements that involve known and unknown risks, uncertainties and
other factors which may cause the actual results, performance,
objectives or achievements of the Company, or industry results, to be
materially different from any future results, performance, objectives
or achievements expressed or implied by such forward looking
statements. These statements reflect our current views regarding future
events and operating performance and are based on information currently
available to us, and speak only as of the date of this Press Release.
These forward looking statements involve a number of risks,
uncertainties and assumptions and should not be read as guarantees of
future performance or results, and will not necessarily be accurate
indications of whether or not such performance or results will be
achieved. Those assumptions and risks include, but are not limited to,
the fact that our results of operations and business outlook are
subject to significant risk, volatility and uncertainty. Many factors
could cause our actual results, performance or achievements to be
materially different from any future results, performance or
achievements that may be expressed or implied by such forward looking
statements, including the factors identified in the "Risk Factors"
section of the Company's supplemented prospectus dated July 27, 2011.
Should one or more of these risks or uncertainties materialize, or
should assumptions underlying the forward looking statements prove
incorrect, actual results may vary materially from those described in
this Press Release as intended, planned, anticipated, believed,
estimated or expected. Unless required by applicable securities law, we
do not intend and do not assume any obligation to update these forward
SOURCE EcoSynthetix Inc.
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