- Top 5 U.S. insulation manufacturer orders EcoSphere® biolatex® binder -
BURLINGTON, ON, March 8, 2012 /CNW/ - EcoSynthetix Inc. (TSX: ECO), a renewable chemicals company that produces a family of commercially proven bio-based products, today announced that after a significant product qualification process it has received a commercial order for EcoSphere biolatex binders from one of the top 5 insulation manufacturers in the United States for use in a line of formaldehyde-free insulation products.
"Insulation manufacturers are actively searching for sustainable, high performance binders that reduce the industry's reliance on the use of formaldehyde, to meet increasingly tough building regulations," said John van Leeuwen, Chairman and CEO of EcoSynthetix. "Our rapid prototyping capabilities and collaboration with potential customers allow us to bring new products to market faster than would be possible within a traditional chemicals framework. The result is a breakthrough biomaterial that offers price stability, in a product that meets the stringent processing and performance requirements outlined by insulation manufacturers."
EcoSphere biolatex polymers are a cost-effective, sustainable solution for the replacement of formaldehyde-based binders in the $8.7 billion annual global fibreglass insulation market. This industry-specific grade of EcoSphere binds together the individual fibres of fibreglass insulation during the manufacturing process to provide the consistent performance that manufacturers require.
This product will be produced using EcoSynthetix's current production facilities with no significant modification required to existing equipment. EcoSphere biolatex is a 100% natural product, which contains no Volatile Organic Compounds (VOCs).
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.
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 looking statements.
For further information:
John van Leeuwen
Chairman & Chief Executive Officer
Phone: (289) 288-5010
E-mail: [email protected]
Phone: (416) 815-0700 (Ext.238)
E-mail: [email protected]