Elevance Enters Joint Development Agreement with Stepan to Commercialize Novel Surfactants & Antimicrobials
October 26, 2010 (Woodridge, IL)
Elevance Renewable Sciences, Inc. announced today it has entered into a joint development agreement with Stepan Company, to evaluate and commercialize novel surfactants, antimicrobials and polyurethane polyols based on Elevance’s specialty feedstocks, including 9-decenoic ester and C18 di-basic ester. Intended use will be for a variety of applications into the consumer, institutional, industrial and broader surfactant marketplace.
With an ever-changing market dynamic, both companies agree the joint development is an opportunity to provide an expanded product portfolio based on biorenewable feedstocks. Developing new biorenewable technologies with performance benefits is consistent with customers’ growth initiatives and their sustainability goals.
“Stepan’s breadth of expertise in derivative chemistries including sulfonation, esterification and quaternization, provides an excellent complement to our unique specialty chemical building blocks,” said K’Lynne Johnson, CEO of Elevance. “Our agreement with Stepan is a great fit that provides us with a leading partner for our strategic business segments in surfactants, polyols and antimicrobials.”
John Venegoni, Vice President and General Manager, Surfactants with Stepan Company added, “Stepan’s ongoing strategy is to deliver value to our customers and achieve organic growth through innovation that is synergistic with Stepan’s core capabilities, platforms and markets. We are pleased to work with Elevance in an effort to provide a unique product portfolio that addresses our customer’s sustainability objectives such as renewable feedstocks, greater compaction and reduced energy consumption.”
About Elevance Renewable Sciences, Inc.
Based in Bolingbrook, Ill., Elevance Renewable Sciences, Inc. creates a range of valued specialty chemicals from natural oils. Using a Nobel Prize-winning technology called olefin metathesis, the company creates high performance ingredients for use in personal care products, detergents, fuels, lubricants and other specialty chemicals markets. To learn more about Elevance, visit www.elevance.com.
About Stepan Company
Stepan Company, headquartered in Northfield, Illinois, is a leading producer of specialty and intermediate chemicals used in household, industrial, personal care, agricultural, food and insulation related products. The common and the convertible preferred stocks are traded on the New York and Chicago Stock Exchanges under the symbols SCL and SCLPR.