CovationBio refocuses on next-gen biomaterials

NEWARK - CovationBio has agreed to divest its stake in Primient Covation, the world's largest producer of bio-based 1,3 propanediol (BioPDO), as it pivots toward emerging biomaterials including a corn cob-derived alternative to petroleum-based polytetramethylene ether glycol (PTMEG) for spandex and polyurethane applications.

The Delaware company, which produces the partially plant-based Sorona polymer used in apparel and home goods, announced it will retain a long-term supply agreement for BioPDO from Primient to continue Sorona production. Financial terms of the transaction were not disclosed.