Admittedly, the blog is not that familiar with Ontario, Canada-based EcoSynthetix. The company first came into the blog’s attention when it filed an IPO on the Toronto Stock Exchange on July this year and began trading on August 4 as it raised around C$100m by selling 11.15m shares at C$9 (C$1= US$1).
By the way, just an interesting information to share, EcoSynthetix relocated its operations from Lansing, Michigan, to Burlington, Ontario, this year after accepting government grants from Canada.
EcoSynthetix claims itself as a pure-play renewable chemicals company specializing in biomaterials such as starch-derived latex binders and monomers for adhesives and resins. EcoSynthetix said their EcoSphere biolatex polymer can be a drop-in replacement for styrene butadiene and styrene acrylic latex with their current equipment and processes. Only minor alterations and minimal capital expenditures are reportedly needed for the conversion.
We will get to know more abut EcoSynthetix in a later date but for now, the company announced on November 4 that it has commissioned a new 80m lb/year production line in an existing facility in Oosterhout, the Netherlands, bringing its current total capacity to 155m lbs/year that will produce its ECOSPHERE Biolatex binder for the coated paper and paperboard market.
EcoSynthetix also expects to bring its fourth production facility – a new 80m lb/year facility that will be installed later this year in Tennessee, US.
The company also commissioned in October its new BIOLATEX® binder pilot plant located at the Company’s Centre of Innovation in Burlington, Ontario. The pilot plant is being used for research and development purposes to support new product development.
EcoSynthetix said the pilot plant supports plans to further penetrate the paper and paperboard industry and expand into new markets to displace petrochemical polymers with a low cost, bio-based alternative. The company’s lead product EcoSphere® biolatex binders is reportedly already used commercially by 3 of the global top 5 manufacturers in the coated paper and paperboard industry, and 11 of the the global top 20 manufacturers are said to be in the process of evaluating EcoSynthetix’s products.
Here’s an interesting investment analysis from Seeking Alpha contributor talking about EcoSynthetix.