BOLINGBROOK, ILL. (July 13, 2 p.m. ET) — Technology firm Elevance Renewable Sciences Inc. is working with Clariant International Ltd.'s additives unit to commercialize new plastics additives made from renewable materials.
“Clariant is globally active in the performance additives space, offering a diversified portfolio. Our teams have worked together over the past year and are pleased to enter now into this cooperation,” said Andy Shafer, executive vice president of sales and market development for Bolingbrook-based Elevance, in a news release.
He expects the market for their products to expand significantly in the next three to five years.
In June, Elevance bought a 800,000-square-foot plant in Natchez, Miss., to make renewable specialty chemicals based on natural oils.