MOSCOW (MRC) -- Covestro, formerly Bayer MaterialScience, and Reverdia have reached an agreement to jointly develop and promote thermoplastic polyurethanes (TPU) based on renewable raw materials, said the company in its press-release.
Covestro will employ Biosuccinium succinic acid from Reverdia for the production of its Desmopan brand TPU for use in a variety of applications, including in the footwear and consumer electronics industries.
Biosuccinium, produced at commercial scale since 2012 using Reverdia’s patented low-pH yeast technology, allows Covestro to capitalize on years of research. The company plans to expand its bio-based TPU production in Taiwan to industrial scale.
Bio-based Desmopan products are already available in various hardness grades, including 85 Shore A, 95A and 60D. They match the excellent physical properties of conventional grades while also providing a better carbon footprint along the value-added chain. Simulations by Reverdia suggest a roughly 65 percent reduction in the carbon impact compared with products produced with petrochemicals. The biomass content of the Desmopan TPU in the aforementioned hardness grades is 65 percent (85 Shore A), 52 percent (95A) and 42 percent (60D).
As MRC informed earlier, Moody's Investors Service, ("Moody's") has today assigned a Baa2 issuer rating to Covestro AG (Covestro). This is the first time that Moody's has assigned ratings to Covestro. The outlook on the rating is stable.
With 2014 sales of EUR 11.7 billion, Covestro is among the world’s largest polymer companies. Business activities are focused on the manufacture of high-tech polymer materials and the development of innovative solutions for products used in many areas of daily life. The main segments served are the automotive, electrical and electronics, construction and sports and leisure industries. The Covestro group has 30 production sites around the globe and employed approximately 14,200 people at the end of 2014. Covestro, formerly Bayer MaterialScience, is a Bayer Group company.
MRC