In Edmonton, bioplastics maker TerraVerdae Bioworks Inc. has signed a binding letter of intent to acquire 100% of the equity in PolyFerm Canada, a company developing a portfolio of biobased and biodegradable elastomeric polymers known as medium chain length polyhydroxyalkanoate (mcl-PHAs).
The addition of PolyFerm will enhance TerraVerdae’s ability to produce biopolymers and resins for a wider range of applications, including for films, coatings and adhesives. Bruce Ramsay, President of PolyFerm, will join the TerraVerdae team to help expand its PHA technology development programs.
Financial terms were not disclosed, and the deal is expected to close in the second quarter of 2022.
TerraVerdae operates product development and pilot-scale production facilities in Canada in Edmonton, AB, and Charlottetown, PEI.