Elevance Renewable Sciences Collaborates with International Specialty Products Inc.
April 5, 2011 (Woodbridge, IL)
Elevance Renewable Sciences, Inc. announces it has signed a Memorandum of Understanding with Wayne, NJ-based International Specialty Products Inc. (ISP) to evaluate and commercialize novel renewable waxes and derivatives as biocide carriers for wood plastic composite materials.
These naturally based, renewable waxes are made from vegetable oils using Elevance’s proprietary metathesis technology.
“We are pleased to be working with ISP who is a leader in supplying biocides to the wood plastic composite market,” said Andy Shafer, executive vice president of sales and market development for Elevance. “ISP’s application expertise and market access provides an excellent complement to our ability to tailor the properties of the renewable waxes to meet customer’s needs.”
Elevance and ISP have completed initial laboratory evaluations and identified candidate waxes that are now moving into scale up testing. The companies are targeting expanded testing later this year and commercialization to begin in late 2011.
“Elevance was a natural fit for this opportunity. The company’s ability to modify natural waxes to meet our performance requirements was key to securing this opportunity,” said Stephen Olsen, Senior VP, ISP Global Performance Products. “Elevance’s latest generation of material is a promising development that will deliver our customers biocides in a more sustainable manner without compromising performance or cost.”
About Elevance Renewable Sciences
Based in Bolingbrook, Ill., Elevance Renewable Sciences, Inc. creates 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.
About About ISP
International Specialty Products Inc. (ISP) is a leading global supplier of specialty chemicals and performance enhancing products for a wide variety of personal care, pharmaceutical, food, beverage and industrial applications. ISP produces more than 500 specialty chemicals, which it markets and sells worldwide. The company’s headquarters is located in Wayne, New Jersey, USA.