AkzoNobel has boosted its technology portfolio in sustainable chemistry after agreeing to acquire from Integrated Botanical Technologies (IBT) its patented Zeta Fraction(TM) technology, which is transforming how plant-based chemistry is used. Financial details were not disclosed.
The unique process developed by IBT - a privately held New York-based company - makes it possible to harvest and separate constituent parts of a living cell from any plant or marine source without requiring any solvents. IBT has worked together with the Personal Care business (part of AkzoNobel Surface Chemistry) for the last five years, during which time new products have been developed that are currently being used in various personal care formulations.
"This acquisition will not only help us to bring innovative products to the market, but we also believe that this technology can be used across several AkzoNobel businesses", said Rob Frohn, the company's Executive Committee member responsible for Specialty Chemicals. "There is increasing customer demand for sustainable solutions in the fast-growing personal care market. Once we tap into this technology's full potential, when combined with our global reach, we will be in an even stronger position to meet this demand."
Added Bob Margevich, Managing Director of AkzoNobel Surface Chemistry: "The Zeta Fraction(TM) technology is different than anything else on the market. We expect it to continue to revolutionize how plant-based chemistry is used and help to further strengthen our leadership position in high performance beauty technologies."
Dr. Michael Koganov, one of IBT's founders, will be joining AkzoNobel to lead the Zeta Fraction(TM) technology platform across the company's businesses. "Our technology is based on fundamental scientific principles that allows for the isolation of intracellular components in a manner that is reproducible, sustainable and can be used for multiple industries and applications," he said.
The Zeta Fraction(TM) technologywill be integrated into the Personal Care business of AkzoNobel's Surface Chemistry business unit.
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AkzoNobel is the largest global paints and coatings company and a major producer of specialty chemicals. We supply industries and consumers worldwide with innovative products and are passionate about developing sustainable answers for our customers. Our portfolio includes well known brands such as Dulux, Sikkens, International and Eka. Headquartered in Amsterdam, the Netherlands, we are a Global Fortune 500 company and are consistently ranked as one of the leaders in the area of sustainability. With operations in more than 80 countries, our 55,000 people around the world are committed to excellence and delivering Tomorrow's Answers Today(TM).
AkzoNobel Global Personal Care is a leader in high-performance beauty technologies. Partnering with leading consumer personal care businesses, we provide world-class development resources that create solutions for personal care technology needs today and envision the market needs of tomorrow. We leverage our broad range of high-performance personal care technologies to provide new and innovative solutions that help create competitive products for beautiful, healthy hair and skin. AkzoNobel Global Personal Care: Where science is a thing of beauty(TM).
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