BASF Forms Exclusive Partnership with Agion
LUDWIGSHAFEN, Germany and WAKEFIELD, Mass.--Agion Technologies Inc., a leading provider of silver-based antimicrobial solutions, today announced that it has formed a multi-year, exclusive partnership with BASF AG, Germany, one of the world’s leading producers of styrenics, to develop and commercialize styrene copolymers, including BASF’s Luran S product line, that will feature Agion’s naturally-safe, antimicrobial technology. BASF’s copolymers are used in a variety of markets such as household appliances, automotive, cosmetic packaging, building and construction, and consumer electronics. The partnership is initially focusing on the European market, but a global rollout is envisioned in the near future.
“Our partnership with Agion gives us the ability to address the increasing demand from our customers for antimicrobial solutions,” said Dr. Peter Wolf, Head of Global Innovation Management, Specialty Polymers & Specialty Foams. “The unique product attributes of Agion’s natural, silver-based technology coupled with its expertise in partnering with leading organizations to introduce new products from development to commercialization make them the ideal partner.”
The incorporation of Agion antimicrobial technology into plastics inhibits microbial growth on the surface of products. The technology provides continuous protection from microbes by releasing silver ions to the surface of the product at a slow and steady rate. This allows for the long-lasting protection of the product against the damaging effects of microbial growth. BASF’s Luran S is an all-purpose plastic that offers UV stability, good chemical resistance, stability and thermal shock resistance. Luran S is used in a variety of applications and can be found in many different final products including sanitary equipment, building & construction, appliances, computer/communication equipment, , cosmetic packaging and recreational equipment.
“BASF recognizes the consumer draw for our natural, antimicrobial technology,” said Ginger Merritt, Vice President of Worldwide Sales and Marketing. “This partnership demonstrates our ability to partner with world-class organizations like BASF and continues to solidify our leadership position in antimicrobial technology.”
Agion’s antimicrobial technology has been approved for food and water contact by the Environmental Protection Agency (EPA) and EFSA (European Food Safety Assn.) and is listed as an indirect food contact substance with the Food and Drug Administration (FDA). Agion’s product is also a notified existing substance under Directive 98/8/EC on European Biocidal Products Directive (BPD).
About BASF
BASF is the world’s leading chemical company: The Chemical Company. Its portfolio ranges from chemicals, plastics, performance products, agricultural products and fine chemicals to crude oil and natural gas. As a reliable partner to virtually all industries, BASF’s high-value products and intelligent system solutions help its customers to be more successful. BASF develops new technologies and uses them to meet the challenges of the future and open up additional market opportunities. It combines economic success with environmental protection and social responsibility, thus contributing to a better future. BASF has approximately 95,000 employees and posted sales of €52.6 billion in 2006. BASF shares are traded on the stock exchanges in Frankfurt (BAS), London (BFA), New York (BF) and Zurich (AN). Further information on BASF is available on the Internet at www.basf.com.
BASF Venture Capital GmbH, the corporate venture capital arm of BASF Group, is a minority shareholder of Agion since 2005.
About Agion Technologies, Inc.
Agion Technologies, located in Wakefield, Massachusetts, is a leader in providing customized, natural, antimicrobial solutions based on silver that continuously inhibit the growth of bacteria, mold and fungus. Agion’s antimicrobial technology is used in consumer, industrial and healthcare industries and has been incorporated into a variety of products including cell phones, shoes, keyboards, pens, water filters, air conditioning and heating units, medical catheters, ice machines and faucet handles. Agion's customers include many leading brands such as Motorola, Sherwin Williams, AK Steel, Carrier, DuPont, Honeywell, Adidas, Sanford/Paper Mate, Ice-O-Matic, Scotsman, Stanley Bostitch and Oster. Since the company’s founding in 1997, Agion Technologies has led the market for naturally safe antimicrobial solutions with support from private equity funds and strategic partners including BASF Venture Capital, H.B. Fuller Ventures, Emerald Technology Ventures, Motorola Ventures and Paladin Capital Group. For more information about Agion Technologies, visit www.agion-tech.com.