International Flavors & Fragrances, Inc. IFF and chemicals company Kemira Oyj are partnering to commercialize a portfolio of renewable polymers.
The polymers, derived from IFF's Designed Enzymatic Biomaterials (DEB) technology platform and plant sugars, will be made available for the first time at industrial scale to supply a range of markets.
The new market development biomanufacturing facility will be integrated into Chemigate Ltd's biorefinery and will be operational in mid-2024.
The partnership will cater to Kemira's growing demand for alternatives to traditional fossil-based synthetic polymers across pulp, paper, and paper-based packaging markets.
The expansion of IIF's DEB technology will give customers access to the new product lines of high-performance material solutions that promote a circular bioeconomy.
"We are proud to leverage our bioscience knowledge to develop the DEB technology platform, allowing us to provide the first commercial quantities for our partners and customers," said IFF venture director, Christian Lenges.
Price Action: IFF shares are trading higher by 0.38% at $79.36 on the last check Tuesday.
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