WILMINGTON, Del., Dec. 17, 2020 /PRNewswire-PRWeb/ -- DuPont Nutrition & Biosciences (NYSE: DD) and Kemira today announced an exclusive partnership for the development and commercialization of DuPont's enzymatic polymerization-based polysaccharide platform technology for certain applications. The collaboration will bring new, biobased and inherently biodegradable product lines to Kemira's strategic markets including paper and board, water treatment and the oil & gas industries.
Under the terms of the partnership, DuPont will provide Kemira with access to its newest material platform technology, which uses enzymatic polymerization to design and produce polysaccharide materials directly from simple sugars. Kemira will provide the application development expertise and the market access required to jointly develop and commercialize these sustainable material offerings globally to Kemira's strategic markets. The underlying technology for this novel material platform has been demonstrated at integrated pilot operations and is ready to advance to full commercial scale.
The DuPont enzymatic polymerization material technology applies biotechnology tools to design polysaccharides. This new material innovation allows for enzymatic polymerization of sugar (sucrose) into poly-glucose (polysaccharides) under controlled, enzyme catalyzed polymerization conditions. This approach enables the specific and designed synthesis of polysaccharides as typically found in nature but with high purity, defined structural material properties and particle morphologies.
The enzymatic polymerization-based product portfolio is readily biodegradable and supports recycle or re-pulping of various paper and pulp-based material streams, for example in packaging end uses. For some applications, these biodegradable products avoid the concern of microplastic formation, reducing the impact of uncontrolled environmental material leakage. Within a circular economy, material innovation should deliver on a series of key requirements to offer viable options to meet sustainability goals and contribute to decarbonize the underlying material portfolios. The enzymatic polymerization-based polysaccharide material platform enables positive contributions to these goals by avoiding waste, expanding the scope of recyclable materials and providing biodegradable product options for a range of material applications.
"Our partnership with DuPont is a major milestone on our strategic journey to deliver high quality, sustainable and biobased products to our core markets. The versatility and scalability of this exciting new platform will allow us to leverage the technology across our key product lines. These new biomaterials can be used in multiple applications including municipal and industrial water treatment as well as in packaging and board applications to improve e.g. strength and barrier properties. Sustainability is one of the main drivers of Kemira's long-term growth and our target is to reach biobased revenue of over 500 million euros by 2030." says Antti Matula, SVP, Global Product Lines & Business Development for Kemira Pulp & Paper.
"We are thrilled to bring our enzymatic polymerization platform technology to Kemira and believe it will transform industrial and packaging products and provide sustainable material options for a range of important end use markets," said Christian Lenges, venture director, DuPont Nutrition & Biosciences. "We look forward to entering the development and commercialization phase with Kemira, who will enable access to a range of key markets for these new engineered polysaccharide materials which are not only renewable but higher-performing compared to traditional materials."
The unique family of designed polysaccharides derived from the enzymatic polymerization platform technology will be offered exclusively to Kemira's global markets in paper and board, water treatment and the oil & gas industries. DuPont continues to advance development of this platform technology for internal applications within DuPont Nutrition and Biosciences and also in strategic partnerships targeting additional markets and applications. DuPont and Kemira are committed to performance-driven product innovation, while providing leading sustainability and breakthrough environmental performance.
Kemira is a global chemicals company serving customers in water intensive industries. We provide best suited products and expertise to improve our customers' product quality, process and resource efficiency. Our focus is on pulp & paper, oil & gas and water treatment. In 2019, Kemira had annual revenue of around EUR 2.7 billion and over 5,000 employees. Kemira shares are listed on the Nasdaq Helsinki Ltd. http://www.kemira.com.
About DuPont Nutrition & Biosciences
DuPont Nutrition & Biosciences applies expert science to advance market-driven, healthy and sustainable solutions for the food, beverage, dietary supplement and pharmaceutical industries. We also use cutting-edge biotechnology across a range of markets to advance bio-based solutions to meet the needs of a growing population, while protecting our environment for future generations. We are innovative solvers who help our customers turn challenges into high-value business opportunities. For more information: http://www.dupontnutritionandbiosciences.com.
DuPont (NYSE: DD) is a global innovation leader with technology-based materials, ingredients and solutions that help transform industries and everyday life. Our employees apply diverse science and expertise to help customers advance their best ideas and deliver essential innovations in key markets including electronics, transportation, construction, water, health and wellness, food, and worker safety. More information can be found at http://www.dupont.com. Investors can access information included on the Investor Relations section of the website at investors.dupont.com.
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On April 1, 2019, the company completed the separation of its materials science business into a separate and independent public company by way of a pro rata dividend-in-kind of all the then outstanding stock of Dow Inc. (the "Dow Distribution"). The company completed the separation of its agriculture business into a separate and independent public company on June 1, 2019, by way of a pro rata dividend-in-kind of all the then outstanding stock of Corteva, Inc. (the "Corteva Distribution").
On December 15, 2019, DuPont and IFF announced they had entered definitive agreements to combine DuPont's Nutrition & Biosciences business with IFF in a transaction that would result in IFF issuing shares to DuPont shareholders, pending customary closing conditions, other approvals including regulatory and that of IFF's shareholders.
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Some of the important factors that could cause DuPont's actual results to differ materially from those projected in any such forward-looking statements include, but are not limited to: (i) the parties' ability to meet expectations regarding the timing, completion and accounting and tax treatments of the proposed transaction with IFF; changes in relevant tax and other laws, (ii) failure to obtain necessary regulatory approvals, approval of IFF's shareholders, anticipated tax treatment or any required financing or to satisfy any of the other conditions to the proposed transaction with IFF, (iii) the possibility that unforeseen liabilities, future capital expenditures, revenues, expenses, earnings, synergies, economic performance, indebtedness, financial condition, losses, future prospects, business and management strategies that could impact the value, timing or pursuit of the proposed transaction with IFF, (iv) risks and costs and pursuit and/or implementation of the separation of the N&B Business, including timing anticipated to complete the separation, any changes to the configuration of businesses included in the separation if implemented, (v) risks and costs related to the Dow Distribution and the Corteva Distribution (together, the "Distributions") including (a) with respect to achieving all expected benefits from the Distributions; (b) the incurrence of significant costs in connection with the Distributions, including costs to service debt incurred by the Company to establish the relative credit profiles of Corteva, Dow and DuPont and increased costs related to supply, service and other arrangements that, prior to the Dow Distribution, were between entities under the common control of DuPont; (c) indemnification of certain legacy liabilities of E. I. du Pont de Nemours and Company ("Historical EID") in connection with the Corteva Distribution; and (d) potential liability arising from fraudulent conveyance and similar laws in connection with the Distributions; (vi) failure to effectively manage acquisitions, divestitures, alliances, joint ventures and other portfolio changes, including meeting conditions under the Letter Agreement entered in connection with the Corteva Distribution, related to the transfer of certain levels of assets and businesses; (vii) uncertainty as to the long-term value of DuPont common stock; (viii) potential inability or reduced access to the capital markets or increased cost of borrowings, including as a result of a credit rating downgrade (ix) risks and uncertainties related to the novel coronavirus (COVID-19) and the responses thereto (such as voluntary and in some cases, mandatory quarantines as well as shut downs and other restrictions on travel and commercial, social and other activities) on DuPont's business, results of operations, access to sources of liquidity and financial condition which depend on highly uncertain and unpredictable future developments, including, but not limited to, the duration and spread of the COVID-19 outbreak, its severity, the actions to contain the virus or treat its impact, and how quickly and to what extent normal economic and operating conditions resume. and (x) other risks to DuPont's business, operations and results of operations including from: failure to develop and market new products and optimally manage product life cycles; ability, cost and impact on business operations, including the supply chain, of responding to changes in market acceptance, rules, regulations and policies and failure to respond to such changes; outcome of significant litigation, environmental matters and other commitments and contingencies; failure to appropriately manage process safety and product stewardship issues; global economic and capital market conditions, including the continued availability of capital and financing, as well as inflation, interest and currency exchange rates; changes in political conditions, including tariffs, trade disputes and retaliatory actions; impairment of goodwill or intangible assets; the availability of and fluctuations in the cost of energy and raw materials; business or supply disruption, including in connection with the Distributions; ability to effectively manage costs as the company's portfolio evolves; security threats, such as acts of sabotage, terrorism or war, global health concerns and pandemics, natural disasters and weather events and patterns which could or could continue to result in a significant operational event for DuPont, adversely impact demand or production; ability to discover, develop and protect new technologies and to protect and enforce DuPont's intellectual property rights; unpredictability and severity of catastrophic events, including, but not limited to, acts of terrorism or outbreak of war or hostilities, as well as management's response to any of the aforementioned factors. 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You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. DuPont assumes no obligation to publicly provide revisions or updates to any forward-looking statements whether as a result of new information, future developments or otherwise, should circumstances change, except as otherwise required by securities and other applicable laws. A detailed discussion of some of the significant risks and uncertainties which may cause results and events to differ materially from such forward-looking statements is included in the section titled "Risk Factors" (Part I, Item 1A) of DuPont's 2019 Annual Report on Form 10-K, its current report on Form 8-K filed on April 20, 2020 and as updated by DuPont's subsequent periodic and current reports filed with the SEC.
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Richard Donovan, DuPont, +33 (0) 6 71 58 98 54, [email protected]
Antti Matula, Kemira, +358 50 570 3576, [email protected]