Springdale, Arkansas -- BioBased Technologies llc, a maker of bio-based polyols, has bought the assets of Soyol polyol technology from Rhino Linings Corp.
At the same time Rhino, which makes protective polyurethane, polyurea, polyaspartic and epoxy coatings. has acquired the BioBased Insulation division of BioBased Technologies.
Neither company released the financial terms of the acquisition.
"The acquisition of the Soyol technology will strengthen our ability to meet our customers' needs to provide greener solutions to the market place," said Amy Sorrell, ceo of BioBased Technologies, in a company statement.
The deal will allow BioBased Technologies to focus on development of renewable and sustainable solutions for the chemical industry with a large portfolio of bio-based polyols. Meanwhile Rhino can focus on spray foam systems for residential and commercial insulation.
Rhino acquired the Soyol polyol technology earlier this year from Urethane Soy Systems Co.
"This acquisition strengthens our commitment to be one of the leading spray system providers by expanding our current product line and offering the best products available," said Pierre Gagnon, president and ceo of Rhino Linings, in the BioBased statement. "The spray foam insulation market is experiencing rapid global growth. We are now positioned to have a stronger footprint in this business."
Agrol polyols, made from natural, rapidly renewable oils, can be used in many of the same or similar applications as petroleum polyols. Flagship products from BioBased Technologies, Agrol and Agrol Diamond, are USDA-certified Biobased Products.
Agrol has 99 percent renewable content, and Agrol Diamond 86 percent renewable content as tested by ASTM D 6866, the industry standard for evaluating bio-based and renewable content. Soyol polyol technology will join the list of sustainable solutions provided by BioBased Technologies.