BURLINGTON, ON, Nov. 22, 2021 /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 an annual contract renewal and purchase
orders for continuous monthly volumes of the Company's bio-based
DuraBind™ resin into 2022 with a top 15 global manufacturer of wood
composite products and a leading international retailer.
"Consumers, retailers and manufacturers are searching for
greener and healthier choices in the everyday items they bring into
their homes and we believe our DuraBind™ technology is the
healthiest and most sustainable commercial binder for wood
composites available," said Jeff
MacDonald, CEO of EcoSynthetix. "This ongoing commitment is
a major milestone for the Company – the culmination of a six-year
intensive process through which a forward-thinking manufacturer has
evaluated alternatives, tested the performance and value offered by
DuraBind™ and moved forward into commercial
production."
The manufacturer is using DuraBind™ in one of multiple
mills that it owns. DuraBind™ enables the production of wood
panels that are a step change ahead of existing regulatory
standards for the level of VOC emissions and significantly
increases the renewable content of engineered wood panels. The
contract enables the manufacturer to increase volumes under the
same terms. There are multiple avenues available to grow within the
account, including increasing the volume of resin used in the
planned production, expanding to the entire production of the
facility, extending to the other mills it owns, as well as,
adoption by other manufacturers within the retail supply
chain.
"Broad-scale adoption within the industrial materials industry
is a demanding process. We are working with strategic accounts,
like this one, that are recognized as thought leaders on
sustainability and establishing industry standards. We believe this
ongoing commitment by the manufacturer demonstrates significant
progress toward a sustainable, bio-based glue that creates
significant carbon footprint reductions for wood composites. We
also believe it will help mobilize other manufacturers to
accelerate the pursuit of solutions in their supply chain that
lower emissions and make a significant contribution to their carbon
footprint reduction goals," continued Mr. MacDonald.
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.