Navigation Links
EcoSphere(R) Biolatex(TM) Secures Funding from Granholm and Invest Michigan!
Date:12/9/2008

EcoSynthetix, a manufacturer of biobased replacements for petroleum-based chemicals was announced as the recipient of a $750,000 investment by the Michigan state pension fund.

LANSING, Mich. (Business Wire EON) December 9, 2008 -- Invest Michigan!, a program announced by Governor Jennifer Granholm earlier this year, selected EcoSynthetix as one of only two companies to receive capital in its first ever investment in high growth potential businesses in the state.

The $750,000 is part of a $10.5-million round of financing from a variety of private and public investment sources for EcoSynthetix, manufacturer of EcoSphere biolatex™, a biobased coating material used in paper products.

With 19 paper mills in Michigan, over 3.7 million tons of paper are produced here. The industry employs 4800 people, providing economic stability in their communities and representing a considerable tax base for the state. EcoSynthetix is targeting several mills in Michigan for conversion to its biolatex coating process next year.

"One of the reasons for our success is the fact that our new biolatex replaces a large percentage of petroleum-based binder in the paper coating process," states Richard Shatkosky, President of EcoSynthetix. "With the wildly fluctuating price of petroleum products in the market, the paper industry sees EcoSphere biolatex as a way to provide some stability in their production process."

EcoSphere biolatex is a starch based product that is used as a bonding and coating agent on a variety of both glossy and dull finish coated papers. "The product has some great ancillary benefits in paper manufacturing," states John van Leeuwen, C.E.O. of EcoSynthetix. "When we sampled the test runs with graphic designers, they noted that the paper coated with EcoSphere has better stiffness and feel than the same weight paper coated with the petroleum product."

"Our strategy is to ramp up production to meet the demand we are seeing on a worldwide basis," states Shatkosky. "Outside of North America, there is tremendous demand from South America, Europe and Japan and we have barely scratched the surface of the market."

"This decision by Roger Penske, Jennifer Granholm and Invest Michigan to invest in the growth of EcoSynthetix is a sound choice that we expect will pay dividends in high paying job opportunities," stated van Leeuwen. "This move will also influence the build-out of other powerful biobased business operations that will see Michigan as a nurturing base of their base of operations."

About EcoSynthetix

EcoSynthetix Inc. specializes in the manufacturing and commercialization of biobased technologies. The EcoSynthetix technology platforms are clean technologies because they provide biobased products derived from renewable resources that have a positive impact on the environment. The company's biopolymer nanoparticle technology platform provides EcoSphere biolatex products as replacements for petroleum-based paper and paperboard coating binders such as SB and SA Latex. At substitution levels up to 50 percent, the biolatex products are comparable or superior to traditional petroleum-based alternatives and can be specifically formulated to deliver previously unattainable benefits at a lower delivered cost to industrial users.

Read the full story at http://www.prweb.com/releases/invest_michigan/jennifer_granholm/prweb1727444.htm


'/>"/>
Source: PRWeb
Copyright©2008 Vocus, Inc.
All rights reserved  

Related biology technology :

1. Interface Biologics secures $5mm financing and appoints Thomas P. Reeves President and Chief Executive Officer
2. Queens secures £25M for UKs cyber safety
3. Queens secures £25m for UKs cyber-safety
4. Northwest Secures US$1.65 Million Debt Financing
5. NeoStem Secures $250,000 in an Above Market Financing and Expands Its Relationship With New England Cryogenic Center, Inc.
6. Transave, Inc. Secures $12.5 Million in New Financing
7. Northwest Secures US$1.0 Million Debt Financing
8. Trillium secures additional financing on the strength of lead program and proprietary position around the CD200 immunoregulatory pathway
9. Althea Technologies Secures $12 M Credit Line to Continue Facility Growth and Expansion
10. Progenitor Cell Therapy Secures Industry Accreditation
11. BIOCOM Institute Secures Non-Profit Designation and Funding
Post Your Comments:
*Name:
*Comment:
*Email:
Related Image:
 EcoSphere(R) Biolatex(TM) Secures Funding from Granholm and Invest Michigan! 
(Date:2/10/2016)... , Feb. 10, 2016 NX Prenatal Inc., ... proprietary NeXosome® technology for early warning of adverse ... most recent study by Dr. Thomas McElrath ... Society for Maternal Fetal Medicine,s (SMFM) annual meeting held ... th , 2016.  The presentation reported initial positive ...
(Date:2/10/2016)... Inc. (NYSE MKT: ISR), a medical technology company and ... the treatment of prostate, brain, lung, head and neck ... the second quarter and six months of fiscal 2016, ... --> --> Revenue was $1.19 million ... December 31, 2015, a 12% increase compared to $1.07 ...
(Date:2/10/2016)... ... February 10, 2016 , ... ... states, announced today the promotion of two long-standing principal investigators (PI) to the ... Medicine, Clinical Research and Development. , Dr. Laurence Chu, a Benchmark Research PI ...
(Date:2/10/2016)... Charlotte, NC (PRWEB) , ... February 10, 2016 ... ... highly anticipated expansion to their comprehensive training and support program, Sonalinkā„¢ remote monitoring. ... Sonablate® HIFU procedures performed on Friday, February 5th, connecting Dr. Samuel Peretsman to ...
Breaking Biology Technology:
(Date:1/22/2016)... , January 22, 2016 /PRNewswire/ ... announced the addition of the  "Global ... their offering. --> http://www.researchandmarkets.com/research/4lmf2s/global_behavioral ... the  "Global Behavioral Biometric Market 2016-2020" ... Research and Markets ( http://www.researchandmarkets.com/research/4lmf2s/global_behavioral ) ...
(Date:1/20/2016)... LONDON , Jan. 20, 2016 A ... positioned to directly benefit from the explosion in genomics ... from Howe Sound Research. A range of dynamic trends ... ...... - personalized medicine - pharmacogenomics - pathogen ... economies with large markets - greater understanding of the ...
(Date:1/18/2016)... JOSE, Calif. , Jan. 18, 2016 /PRNewswire/ ... security software that simplifies the use and access ... technology and go-to-market partnership with American Cyber.  ... Cyber brings extensive experience leading transformational C4ISR and ... implementing and integrating the latest proven technology solutions," ...
Breaking Biology News(10 mins):