BURLINGTON, ON, March 6, 2014 /CNW/ - EcoSynthetix Inc. (TSX:
ECO), a renewable chemicals company that produces a family of
commercially proven bio-based products, today announced that
John van Leeuwen, Chief Executive
Officer, represented the Canadian clean technology industry as part
of the formal program at the launch of Canadian Clean Technology
Report for 2014 in Ottawa,
Ontario.
The opportunity for Canada to create a $50
billion industry by 2022 is highlighted in the report
published today by Analytica Advisers. The industry is making
continued progress and is evolving into a globally competitive,
multi-billion dollar industry with a potentially transformative
impact upon Canada's economy.
In another year of sustained growth in 2014, the
Canadian clean technology industry continued to achieve some
impressive industry performance statistics:
- EcoSynthetix is part of the 74 percent of clean technology
companies that are exporting today. In 2012, the industry
generated $5.8 billion in
exports.
- EcoSynthetix is one of over 700 innovation-driven companies
located across Canada working with
thousands of direct suppliers across ten sectors.
- The industry currently has $11.3
billion in revenues, or one percent of global
market-share. The industry boasts a Compound Annual Growth
Rate ("CAGR") of 10 percent from 2010 to 2012, compared to 1.7
percent growth in the Canadian economy as a whole.
- As a growing company, EcoSynthetix is part of an industry that
has created 41,100 jobs across Canada. Jobs grew at a rate of 6 percent
from 2010 to 2012 - 200 percent faster than the national
average. Twenty percent of the clean technology's industry
workforce is comprised of Canadians 30 years of age and
younger.
- EcoSynthetix contributes to an industry that invested over
$1 billion in research &
development ("R&D") in 2012, and $5
billion from 2008 to 2012, of which $3.5 billion was from small and medium
enterprises ("SMEs").
"Exports represent the vast majority of our
sales. In 2011, we consolidated our operations in Burlington with the support of industry
leaders, like Sustainable Development Technology Canada, and since
that time we have hired more than 24 new employees in Canada to support our growth," said
John van Leeuwen, CEO of
EcoSynthetix. "These employees conduct leading-edge research and
development on our proprietary, sustainable polymer technologies at
our Centre for Innovation in Burlington. In addition to our own work, we
have also established a series of collaborative relationships with
universities and institutes throughout the region for fundamental
research that can accelerate the development process. We're
innovating right here at home and bringing new products to world
markets."
The 2014 Canadian Clean Technology Industry
Report includes insight from Canadian Clean Technology companies,
including EcoSynthetix. The Report examines the clean technology
industry's achievements in creating jobs, exports, innovation and
competitive performance. The Report also discusses why the industry
is both Canada's first new
industry in the 21st century and a foundational base for growth,
global competitiveness and productivity in other industries.
Building on the groundwork laid by the 2010 SDTC
Cleantech Growth & Go-To-Market Report and the 2011 and 2013
Canadian Sustainable Technology Industry Reports, the findings from
the 2014 Report show that the Canadian clean technology industry
has now become a meaningful contributor to the Canadian economy.
The industry is emerging as a powerful player and companies, like
EcoSynthetix, are targeting and winning in global markets.
"Clean technology is one of Canada's first 21st century industries.
It has a growing presence in international markets and is bringing
economic opportunity across the country. At current growth rates
this will become a $28 billion
industry by 2022, employing over 75,000," said Céline Bak,
President of Analytica Advisors. "Much of this growth will be
driven by exports to international markets. Three quarters of
clean technology companies are currently exporting, and close to
ninety percent expect to export in 2015. Twenty-two percent
of industry revenues are already generated from exports markets
other than the U.S.
"Yet this dynamic industry remains one of
Canada's best kept secrets.
It is time for Canada to take
notice. Canadian companies are bringing solutions to some of
the world's most technically demanding problems and young people
are seeing an opportunity to build their careers here for the long
term benefit of our economy and the environment."
The clean technology industry is becoming a
significant component of the Canadian economy. Canada should recognize that this industry is
ready to play to its potential, to set an ambitious goal to build a
$50 billion industry so that it can
deliver that potential to the Canadian economy.
About EcoSynthetix Inc.
(www.ecosynthetix.com)
EcoSynthetix Inc. is a renewable chemicals company specializing in
bio-based products that can be used as inputs in industrial
manufacturing for a wide range of consumer products. The Company's
products offer a reduced carbon footprint and are marketed
primarily on the basis of lower cost, stable pricing and equal or
superior performance. EcoSynthetix's lead product,
EcoSphere® biolatex® binders, is used
commercially by a number of the global top 20 manufacturers in the
coated paper and paperboard industry.
About Analytica Advisors
Analytica Advisors is a registered Beneficial Corporation dedicated
to research and advisory services for a growing Canadian and global
economy. For more information visit
www.analytica-advisors.com
The 2014 Canadian Clean Technology Industry
Report was authored by and is available from Analytica Advisors.
For more information contact: info@analytica-advisors.com
Forward Looking Statements
Certain statements in this Press Release constitute "forward
looking" statements that involve known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance, objectives or achievements of the Company, or industry
results, to be materially different from any future results,
performance, objectives or achievements expressed or implied by
such forward looking statements. These statements reflect our
current views regarding future events and operating performance and
are based on information currently available to us, and speak only
as of the date of this Press Release. These forward looking
statements involve a number of risks, uncertainties and assumptions
and should not be read as guarantees of future performance or
results, and will not necessarily be accurate indications of
whether or not such performance or results will be achieved. Those
assumptions and risks include, but are not limited to, the fact
that our results of operations and business outlook are subject to
significant risk, volatility and uncertainty. Many factors could
cause our actual results, performance or achievements to be
materially different from any future results, performance or
achievements that may be expressed or implied by such forward
looking statements, including the factors identified in the "Risk
Factors" section of the Company's Annual Information Form dated
March 28, 2013. Should one or more of
these risks or uncertainties materialize, or should assumptions
underlying the forward looking statements prove incorrect, actual
results may vary materially from those described in this Press
Release as intended, planned, anticipated, believed, estimated or
expected. Unless required by applicable securities law, we do not
intend and do not assume any obligation to update these forward
looking statements.
SOURCE EcoSynthetix Inc.