Huntsman has reiterated its continuing commitment to explore the use of bio-renewable components both for feedstock and for product applications. In pursuit of its belief that lignin, an agricultural by-product has significant potential in the chemical industry, Huntsman has signed an MOU with Lignol.
Huntsman Corporation has signed a Memorandum of Understanding (MOU) with Lignol to establish a framework within which the companies will work together to develop one or more applications utilizing Lignol's proprietary lignin HP-L™. Under the terms of the MOU, the parties expect that this arrangement will comprise several stages and be covered by separate definitive agreements. If the development project is successful and Huntsman decides to commercialize the application then it is anticipated that the parties will enter into a supply agreement on terms to be mutually agreed.
Materials with superior and novel properties can be developed from HP-L (TM) and from combinations with industrial adhesives such as phenol formaldehyde and urea formaldehyde resins, isocyanates and epoxy resins and coatings, acrylonitrile for carbon fiber production, thereby reducing the use and dependence of crude oil and natural gas based petrochemicals.
31-Aug-07 
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