February 09, 2011 09:00 ET
Novomer Wins InformexUSA Sustainability Award
Company Honored for Its Commitment to Sustainable Materials and Climate Change
BOSTON, MA--(Marketwire - February 9, 2011) - Novomer Inc., a sustainable materials company pioneering a family of high-performance plastics, polymers and other chemicals from renewable feedstocks such as carbon dioxide (CO2), today announced that it has been recognized with a InformexUSA 2011 Profiles in Sustainability Award. Novomer was honored during the show's awards gala held last night at the Charlotte Convention Center.
In its 27th year, InformexUSA is a premier event for exchanging critical, high-value information within the fine, specialty and custom chemical industry. With the InformexUSA award program celebrating its second year, Novomer is one of just three companies honored for its commitment to improving sustainability. Novomer's pioneering method for materials development was recognized as the top choice in the process innovation category. Additionally, and as part of its award recognition, Novomer's Vice President of Research and Development, Ron Valente will provide a brief company and product overview today between 8:00 and 9:30 Eastern Time.
"We are honored to be recognized by Informex for our efforts," said Jim Mahoney, CEO of Novomer. "Addressing the issues that surround climate change requires collective efforts and targeted applications -- and we are pleased that our innovations are making a tangible impact today and well-poised for broader market change."
The Profiles in Sustainability award was born from a need to recognize that sustainable chemistry was not just a passing fad or a niche branch of the chemical industry. With more than $20 million in awards from the US Department of Energy (DOE) and the New York State Energy Research and Development Authority (NYSERDA) in the past year for pilot scale development projects, Novomer epitomizes this reality. The company is actively engaged with the DOE and NYSERDA, and partners including Kodak Specialty Chemicals, Praxair and Albemarle Corporation, to drive sustainable materials development to become an economic reality on a massive scale.
This past year Novomer initiated a joint product development agreement with Royal DSM N.V. to develop revolutionary polyols for coating and ink resins produced using CO2 as a raw material. These products will be the first polymers to enter the main stream of the coating industry in more than a decade, and early results suggest that this project might lead to completely new and unprecedented properties in coatings.
From a materials perspective, when compared to traditional plastics, Novomer's CO2 based polymers are more environmentally friendly, and have mechanical and barrier properties that perform well for a variety of flexible and rigid packaging applications. In addition, Novomer's CO2 based polyols are well suited as resins for food and beverage can coatings and linings, coil coating, and automotive and industrial finishes. Also, Novomer polyols have shown promise in composite resins and polyurethane foam applications.
Novomer (www.novomer.com) is a revolutionary new materials company pioneering a family of low-cost, high-performance, sustainable plastics, polymers and other chemicals. Novomer groundbreaking technologies allows carbon dioxide and other renewable feedstocks to be cost-effectively transformed into polymers, plastics and other chemicals for a wide variety of industrial markets. The company is partnered with equity investors Flagship Ventures, Physic Ventures, OVP Venture Partners, DSM Venturing and KensaGroup, and has received support from the Department of Energy, National Science Foundation and the State of New York.