AVON LAKE, Ohio, Aug. 5 /PRNewswire-FirstCall/ -- PolyOne Corporation (NYSE: POL), a premier provider of specialized polymer materials, services and solutions, announced today that it has entered into an exclusive license arrangement for a series of bio-based plasticizer technology patents owned by Battelle.
The global market for plasticizers is approximately $11 billion annually, with 90% of all production consumed in vinyl-based formulations. Specialty plasticizers currently account for about 20% of the market. PolyOne will seek to develop differentiated specialty plasticizer and vinyl compound offerings based in part on the technologies covered by these patents.
"The world is looking for bio-based alternatives to materials traditionally derived from petroleum-based feedstock. The Battelle plasticizer technology, which was developed with early stage funding from Ohio Soybean Council as part of their strategic thrust to create new industrial markets for soybeans, shows great promise as a path to commercially viable renewable plasticizers," said PolyOne's Rob Rosenau, senior vice president and general manager, Geon Performance Polymers.
PolyOne is a global leader in compounding and formulation and is committed to expanding its position in specialized technologies that enhance the overall sustainability of its customers and the global community. PolyOne has specialty plasticizer manufacturing operations in Orangeville, Ontario and St. Remi, Quebec, Canada.
About PolyOne Corporation
PolyOne Corporation, with annual revenues of more than $2.7 billion, is a premier provider of specialized polymer materials, services and solutions. Headquartered outside of Cleveland, Ohio USA, PolyOne has operations around the globe. For additional information on PolyOne, visit our new Web site at http://www.polyone.com
Battelle is the world's largest non-profit independent research and development organization, providing innovative solutions to the world's most pressing needs through its four global businesses: Laboratory Management, National Security, Energy Technology, and Health and Life Sciences. It advances scientific discovery and application by conducting $4 billion in global R&D annually through contract research, laboratory management and technology commercialization. Headquartered in Columbus, Ohio, Battelle oversees 20,400 employees in more than 120 locations worldwide, including seven national laboratories which Battelle manages or co-manages for the U.S. Department of Energy and the U.S. Department of Homeland Security. Battelle also is one of the nation's leading charitable trusts focusing on societal and economic impact and actively supporting and promoting science and math education.
|SOURCE PolyOne Corporation|
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