Canadian bioplastics company TerraVerdae Bioworks has announced it is set to acquire thermoplastic elastomer developer PolyFerm Canada, Globe Newswire reported.
The acquisition of PolyFerm will strengthen TerraVerdae’s core capabilities and enhance its ability to produce biopolymers and resins for a wider range of applications, including for films, coatings and adhesives, according to the 25 January report.
TerraVerdae said it expected the acquisition to be finalised in the second quarter of 2022.
PolyFerm’s portfolio includes a range of bio-based and bio-degradable elastomeric polymers known as medium chain length polyhydroxyalkanoate (MCL-PHAs).
“The addition of PolyFerm’s capabilities and know-how represents a significant opportunity for TerraVerdae to advance new and valuable solutions to help the world develop sustainable plastic solutions that can reduce its carbon footprint,” TerraVerdae CEO William Bardosh said.
As part of the acquisition, PolyFerm president Dr Bruce Ramsay, who works in the field of bio-based elastomeric PHA technologies – would be joining the TerraVerdae team to help expand its PHA technology development programmes, Globe Newswire wrote.
TerraVerdae has product development and pilot-scale facilities in Edmonton, Canada, and its portfolio includes biopolymer and bioplastics technology based on PHAs (polyhydroxyalkanoate).
Ontario-based PolyFerm’s MCL-PHA’s, which are made from renewable sources such as sugars and vegetable oils, are branded as VersaMer PHA and, in latex form, are suitable for use in coatings and paints. They are also bio-compatible, making them suitable for use in the biomedical and tissue engineering fields.