Burlington, Ontario, November 22, 2021 – 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.