EcoSynthetix announces that a key player in the wood panel market has committed to a meaningful step in its implementing of EcoSynthetix’s DuraBind resin for particleboard; DuraBind is a sustainable, biobased solution

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BURLINGTON, Ontario , February 24, 2023 (press release) –

EcoSynthetix Inc. (TSX: ECO) ("EcoSynthetix" or the "Company"), a renewable chemicals company that produces a portfolio of commercially proven bio-based products, today announced that a key player in the wood panel market has committed to a meaningful step in its implementation of the Company's DuraBind™ resin for particleboard as published in their FY2022 Climate Report issued last week. The manufacturer, a backward integrated producer of particleboard for a leading international retailer, is preparing to make this step in the implementation process this year following several years of trials and preliminary commercial production.

"This is another significant step forward for this market leader in their ongoing commitment to improving their carbon footprint and emissions," said Jeff MacDonald, CEO of EcoSynthetix. "Moving to a sustainable, bio-based solution like our DuraBind™ resin can have a material impact in helping them achieve their industry leading climate targets. As thought leaders in their sector, choosing to use innovative, bio-based materials that deliver both value and performance sets a standard for other manufacturers within their supply chain. It's another example of consumers and retailers becoming increasingly aware of their impact on climate and the choices required within their buying behaviour and supply chain to make a difference."

Particleboard represents 55% of the retailer's wood-based material by weight. Glue used for its wood-based materials represents approximately 5% of the retailer's total climate footprint. The manufacturer and retailer have identified bio-based glues as one of the critical movements in material choices within their supply chain and a key enabler of achieving their overall climate goal.

The manufacturer has been using DuraBind™ on a commercial scale for more than a year in one of multiple mills that it owns. This next step in implementation at the mill is a critical step forward to delivering meaningful carbon footprint reductions. There are multiple avenues available to grow within the account, including increasing the volume of resin used in the planned production, extending to the other mills it owns, as well as adoption by other manufacturers within the retailers' supply chain.

DuraBind™ enables the production of wood panels that are a step change ahead of existing regulatory standards for the level of VOC emissions and significantly increases the renewable content of engineered wood panels.

About EcoSynthetix Inc. (www.ecosynthetix.com)

EcoSynthetix offers a range of sustainable engineered biopolymers that allow customers to reduce their use of harmful materials, such as formaldehyde and styrene-based chemicals. The Company's flagship products, DuraBind™, Bioform™, Surflock™ and EcoSphere®, are used to manufacture wood composites, personal care, tissue, paperboard, and paper products, and enable performance improvements, economic benefits and carbon footprint reduction. The Company is publicly traded on the Toronto Stock Exchange (T:ECO).

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