BURLINGTON, ON, Sept. 28, 2016 /PRNewswire/ - EcoSynthetix Inc.
(TSX: ECO) ("EcoSynthetix" or the "Company"), a renewable
chemicals company that produces a portfolio of commercially proven
bio-based products, today announced its first commercial customer
for its DuraBind™ technology, which targets the wood composite
market. The SWISS KRONO GROUP is a top five global producer of wood
composites with multiple production facilities. It has completed
industrial-stage trials and is now using DuraBind on one production
line on an ongoing basis for its NAF ("No Added Formaldehyde")
engineered wood products. EcoSynthetix' DuraBind technology is a
sustainable, NAF resin solution for the multi-billion dollar global
wood binder market.
"This important step, with such a strong industry player,
validates DuraBind's capability to meet industry performance
standards and deliver value to large-scale operators," said
Jeff MacDonald, CEO of EcoSynthetix.
"DuraBind is generating significant interest from a broad range of
wood composite manufacturers, as well as retailers, who are
actively searching for environmentally-friendly alternatives that
reduce the use of formaldehyde. As manufacturers strive to conform
to regulations that require lower formaldehyde emissions, DuraBind
is ideally positioned, offering improved sustainability with
comparable performance and economics."
"Our strategy is focused on bringing innovative, sustainable
products to market. From both a value and performance perspective,
EcoSynthetix has achieved the high standard that we establish for
all of our products. DuraBind allows us to offer the highest
standard of renewable bio-content in our NAF product line," said
Hendrik Hecht, Managing Director of
SWISS KRONO GERMANY.
With this initial accomplishment, the two companies have
developed plans to introduce DuraBind technology in other products,
as well as, at additional sites.
About EcoSynthetix Inc. (www.ecosynthetix.com)
EcoSynthetix offers a range of engineered biopolymers that replace
non-renewable chemicals used to manufacture many products, such as
paper and packaging, and wood composites. The Company's flagship
products, EcoSphere® biolatex® and DuraBind™
biopolymers, provide customers with a sustainable alternative that
reduces the use of hazardous chemicals, improves performance and
delivers economic benefits. The Company is publicly traded on the
Toronto Stock Exchange (T:ECO).
About SWISS KRONO GROUP
Having emerged from the
company Kronospan, founded in 1966 by entrepreneur Ernst Kaindl in Menznau, Switzerland, today, with more than 4,500
employees, the SWISS KRONO GROUP is one of the leading global
engineered wood producers companies. In the 2014/15 fiscal year,
the corporation achieved a turnover of CHF
1.8 billion. For the owner and employees, efficiency,
uncompromised focus on quality and environmental orientation are at
the centre of their business activities. The SWISS KRONO GROUP
produces modern, environmentally compatible products made of wood,
a naturally renewable resource, using long-term oriented and
efficient methods. The headquarters of the SWISS KRONO GROUP are
located in Lucerne, Switzerland.
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. The forward-looking statements in this Press Release
include, but are not limited to, statements regarding the Company's
ability to expand the Company's offering into other production
lines, expected product pipeline, plans to expand the Company's
business into new markets, and other statements regarding the
Company's plans and expectations in 2016. 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
Company's ability to successfully allocate capital as needed and to
develop new products, as well as 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 Annual Information Form dated March 30, 2016. 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.
SOURCE EcoSynthetix Inc.