JACKSONVILLE, Fla.--(BUSINESS WIRE)--Rayonier Advanced Materials Inc. (NYSE: RYAM) announced today a strategic investment in Anomera Inc. Anomera produces the highest quality Cellulose Nanocrystals (CNC) in the world under the brand names DextraCel™, ChromaPur™ and ChromAllur™. Anomera’s products address a global market with greater than $8 billion of potential annual revenue. ChromaPur™ the Anomera patented microbead, can be used in a variety of areas, including the creation of a biodegradable micron sized powder replacing plastic and silica microbeads in personal care and cosmetics. Anomera’s DextraCel™ nanocrystals, three times stronger than titanium, provide benefits to core industries including cement, paints and coatings, composites, polyurethanes, adhesives as well as agriculture, medical, pharma and life sciences. ChromAllur™ presents new biodegradable technologies for color pigments in cosmetics and coatings. Anomera has head offices, applications lab, and product development lab in Montreal, Quebec. Anomera is currently constructing a Specialty Manufacturing Facility (“SMF”) at the Rayonier Advanced Materials’ High Purity Cellulose facility in Témiscaming, Quebec. The new facility, targeted to be operational this summer, will utilize RYAM’s cellulose specialties inputs as its critical feedstock and leverages its existing industrial infrastructure benefits on the site.
Anomera has recently signed a worldwide health and beauty segment distribution agreement for its cosmetic and personal care ChromaPur™ products with UK based Croda. Croda is a global leader in creating, manufacturing and selling specialty chemicals that deliver benefits to a range of diverse products including health and beauty, engine lubricants and plastics. Croda produces and distributes a billion dollars of personal care and cosmetic ingredients annually with sales, customer service and R&D facilities strategically located worldwide.
For additional information regarding Croda, please visit the following link: www.croda.com
“Anomera has been developing their CNC product since 2016. This platform technology has a broad potential of uses and can replace dangerous plastic/petrochemical/silica ingredients with a biodegradable renewable resourced material,” stated Howard Fields, CEO and President of Anomera. “We are excited to partner with Rayonier Advanced Materials, a leader in cellulose chemistry, to deliver breakthrough technology in cellulosics. We have a unique opportunity to create ingredients that are uniquely beneficial in everyday life, enhance industries and uniquely environmentally friendly.”
RYAM has been investing in Anomera since 2017. The most recent investment will in part enable Anomera to complete the building of the SMF and accelerate the growth the business. The investment includes both cash and in-kind services and increases RYAM’s stake in Anomera as its largest shareholder. The Company has invested a total of $8 million in Anomera through March 27, 2021 and expects to make additional investments at various times over the next five years. The Company has a 44 percent voting interest in Anomera. The Company will record its share of net earnings and losses on the investment in “Income (loss)” under the equity method of accounting.
“Building upon our leading knowledge of cellulose chemistry, our investment in Anomera provides a new platform to expand our knowledge into new areas,” stated Paul Boynton, President and CEO of Rayonier Advanced Materials. “Cellulosics from renewable trees have a unique opportunity to create remarkable alternatives to displace petroleum-based products. Anomera represents a new cellulosic technology platform for future growth.”
For additional information please visit the Anomera page on the Rayonier Advanced Materials website: https://rayonieram.com/anomera/
About Rayonier Advanced Materials
Rayonier Advanced Materials is a global leader of cellulose-based technologies, including high purity cellulose specialties, a natural polymer commonly found in filters, food, pharmaceuticals and other industrial applications. The Company also manufactures products for lumber, paper and packaging markets. With manufacturing operations in the U.S., Canada and France, Rayonier Advanced Materials employs approximately 4,000 people and generates approximately $1.7 billion of revenues. More information is available at www.rayonieram.com.
About Anomera
Anomera manufactures carboxylated Cellulose Nanocrystals (CNC) in a patented eco-friendly method that delivers a superior nanomaterial from sustainably harvested Canadian Forests. This platform product is creating new opportunities for the multibillion-dollar markets in cosmetics and skin care, the industries of cement, polymer composites, coatings, pigments, agriculture, and for human wellness in pharma and life sciences. Anomera’s patented carboxylated-CNC is sold under the trade name DextraCel™. DextraCel™ has properties that exceed other cellulose nanomaterials in the market. The product is available as an aqueous suspension or as a dry powder. The powder is readily nano-dispersible in water and non-aqueous solvents.
Anomera's head offices, applications lab and product development lab is in Montreal, Quebec. Anomera is currently developing a Specialty Manufacturing Facility which can produce over 250 tonnes of DextraCel™ per year. More information is available at www.anomera.ca.
About Croda
Established in 1925, Croda is the name behind sustainable, high performance ingredients and technologies in some of the world’s most successful brands: creating, making and selling specialty chemicals that are relied on by industries and consumers everywhere.
Croda is a FTSE 100 company with over 4,500 passionate and innovative employees, working across manufacturing sites and offices around the world with a shared Purpose to use Smart Science to Improve Lives™. As part of this Purpose, and with around two thirds of its organic raw materials already from bio-based sources, Croda has committed to be the most sustainable supplier of innovative ingredients, becoming Climate, Land and People Positive by 2030.
Forward-Looking Statements
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Other important factors that could cause actual results or events to differ materially from those expressed in forward-looking statements that may have been made in this document are described or will be described in our filings with the U.S. Securities and Exchange Commission, including our Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Rayonier Advanced Materials assumes no obligation to update these statements except as is required by law.
