Alkyds are back! Alive and kicking!

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2 Alkyds are back! Alive and kicking!

3 Presentation structure 1. Who is Ecoat? 2. The revitalization of Alkyds: Technical information 3. Improvement of ecological footprint with the new technologies 4. How can we bring technology to you?

4 ECOAT at a glance Newly formed company, based in France Positioning: Sustainability and Performance in Coatings through innovation Business model: R&D, production, sales, technical service Research: 9 PhDs or engineers + collaboration with 4 universities Operations: Plant with 30000T capacity coming on stream in early 2014 Office in China opening now Chemstart'up 2012 Award (from the French Chemical association)

5 Revitalization of Alkyds

6 Mapping of main polymers families for Paints Performances Crosslinking with 2 componants Polyurethane 2K Polyester 2K Epoxy 2K Oxidative drying catalyzed with driers Unsaturated Polyester Alkyds Physical drying by coalescence Acrylics Styrene acrylics VAE 3 /kg 2 /kg 1 /kg Cost /kg

7 Decorative Mapping of main polymers families for Paints Performances Crosslinking with 2 componants Polyurethane 2K Polyester 2K Epoxy 2K Oxidative drying catalyzed with driers Unsaturated Polyester Alkyds Physical drying by coalescence Acrylics Styrene acrylics VAE 3 /kg 2 /kg 1 /kg Cost /kg

8 Mapping of main polymers families for Paints Performances Decorative Industrial 3 /kg Crosslinking with 2 componants Polyurethane 2K Polyester 2K Epoxy 2K Unsaturated Polyester Alkyds 2 /kg Oxidative drying catalyzed with driers Acrylics Styrene acrylics VAE 1 /kg Physical drying by coalescence Cost /kg

9 Mapping of main polymers families for Paints Performances Decorative Industrial 3 /kg Crosslinking with 2 componants Polyurethane 2K Polyester 2K Epoxy 2K Unsaturated Polyester Alkyds 2 /kg Oxidative drying catalyzed with driers Acrylics Styrene acrylics VAE Physical drying by coalescence 1 /kg Cost /kg Water-based

10 Mapping of main polymers families for Paints Performances Decorative Industrial 3 /kg Crosslinking with 2 componants Polyurethane 2K Polyester 2K Epoxy 2K Solvent-based Unsaturated Polyester Alkyds 2 /kg Oxidative drying catalyzed with driers Acrylics Styrene acrylics VAE Physical drying by coalescence 1 /kg Cost /kg Water-based

11 Mapping of main polymers families for Paints Performances Decorative Industrial 3 /kg Polyurethane 2K Polyester 2K Epoxy 2K Unsaturated Polyester Alkyds VOC Directives Solvent-based 2 /kg Acrylics Styrene acrylics VAE 1 /kg Cost /kg Water-based

12 Mapping of main polymers families for Paints Performances Decorative Industrial 3 /kg Polyurethane 2K Polyester 2K Epoxy 2K Unsaturated Polyester Alkyds VOC Directives Solvent-based 2 /kg Willingness to move to water based solutions but 2 stages drying are difficult in water. Limited switch Acrylics Styrene acrylics VAE 1 /kg Cost /kg Water-based

13 Mapping of main polymers families for Paints Performances Decorative Industrial 3 /kg Polyurethane 2K Polyester 2K Epoxy 2K Unsaturated Polyester Alkyds VOC Directives Solvent-based 2 /kg Alkyds? Willingness to move to water based solutions but 2 stages drying are difficult in water. Limited switch Acrylics Styrene acrylics VAE 1 /kg Cost /kg Water-based

14 Water based Alkyds and the German market Alkyd resins represents about 4% market share, but mostly in Solvent for the architectural (trim) and industrial segments Water based alkyd do have benefit with superior application properties (Gloss ) But they never developed due to technical barriers: too slow hardness development Combination of oxidative and physical drying Additional surfactant reducing performances j 2j 3j 7j 14j Solvent based alkyd with Cobalt drier Alkyde solvant siccativée cobalt Acrylic emulsion Acrylique à l'eau Alkyd emulsion Alkyde à l'eau In some applications, water based Alkyds are blended with acrylics to improve quality. Cost: 2 step process doubling investment and operating cost

15 ECOAT APPROACH TO ALKYDS Overcome the drying issue Faster Harder Building an ecofriendly and economical alkyd Renewable raw materials No Solvent/ Water based / Low VOC No Drier / No regulatory issues

16 INNOVATION 1: NEW DRYING MECHANISM

17 INNOVATION 1: New drying mechanism Existing system Oxydative Drying 24h or 6h with catalyst Cobalt salts

18 INNOVATION 1: New drying mechanism Existing system New system Oxydative Drying 24h or 6h with catalyst Cobalt salts Grafting of X & Y reactants on oil insaturation Chemical protection on X Deprotection at drying without catalyst or heating Drying as a 2k

19 INNOVATION 1: New drying mechanism Existing system New system 2 in 1 K mecanism Oxydative Drying 24h or 6h with catalyst Cobalt salts Grafting of X & Y reactants on oil insaturation Chemical protection on X Deprotection at drying without catalyst or heating Drying as a 2k

20 Benchmark against existing waterbased systems ECOAT patent: substitution of oxydative drying by a controlled chemical crosslinking Water based technology No VOC Crosslinking without any drier or catalyst 1K technology Natural sourcing > 95% Reduced insaturations level Fast Drying High degree of Polymerisation Persoz Hardness (satin paint) in sec Alkyd Emulsion Acrylic Emulsion 0 1j 2j 3j 7j 14j

21 Our breakthrough Innovation: Secoia V5 ECOAT patent: substitution of oxydative drying by a controlled chemical crosslinking Water based technology No VOC Crosslinking without any drier or catalyst 1K technology Natural sourcing > 95% Reduced insaturations level Fast Drying High degree of Polymerisation Persoz Hardness (satin paint) in sec Secoia V5 Alkyd Emulsion Acrylic Emulsion 0 1j 2j 3j 7j 14j

22 Our breakthrough Innovation: Secoia V5 ECOAT patent: substitution of oxydative drying by a controlled chemical crosslinking Secoia V5 Alkyd Emulsion Acrylic Emulsion Water based technology No VOC Crosslinking without any drier or catalyst Solventborne alkyd 1K technology Natural sourcing > 95% Reduced insaturations level Fast Drying High degree of Polymerisation Persoz Hardness (satin paint) in sec Secoia V5 Alkyd Emulsion Acrylic Emulsion 0 1j 2j 3j 7j 14j

23 Some examples Scrub 7 days 200 pass Dry to touch 30 min 2h 3h 4h 8h 24h 48h 7 days Commercial acrylic paint for automotive (+) Emulsion Secoia XPV Commercial Alkyd ECOAT SECOIA V5

24 INNOVATION 2 : BIO-BASED POLYMERS

25 Innovation 2: Bio-based efficient polymer 1. Improvement on performances Bio-based polymer compositions with hardness Polymer modification with NIPU technology (None Isocyanate PolyUrethan) 2. Improvement in cost Faster synthesis process Improved emulsification process

26 Innovation 2: Towards renewable chemistry Conventional Alkyd Biobased Alkyd 26

27 Innovation 2: leading to an existing portfolio Persoz Hardness (s) Acrylic emulsion Acrylique à l'eau Alkyde à emulsion l'eau Urethane alkyd emulsion Alkyde urethanisée à l'eau Secoia 3401 Secoia j 2j 3j 7j 14j Product Inokem 1101 Secoia 1402 Secoia 1403 Secoia 3401 Technology Alkyd emulsion Alkyd emulsion Alkyd emulsion Alkyd Emulsion % Solids % Oil ph Typical End Uses & Features Multi purpose conventional alkyd emulsion for interior / exterior application, can be used alone or in blends in low VOC interior paints or trim formulations ,5-9,5 96% vegetal based alkyd emulsion for interior wall paints ,5-9,5 99% vegetal based alkyd emulsion for interior wall paints ,5-9,5 99% vegetal based Urethane alkyd emulsion for trim paints

28 UNDERSTANDING ECOAT CONTRIBUTION

29 Mapping of main polymers families for Paints Performances Decorative Industrial 3 /kg Polyurethane 2K Polyester 2K Epoxy 2K Unsaturated Polyester Alkyds VOC Directives Solvent-based 2 /kg Alkyds? Willingness to move to water based solutions but 2 stages drying are difficult in water. Limited switch Acrylics Styrene acrylics VAE 1 /kg Cost /kg Water-based

30 Mapping of main polymers families for Paints Performances Decorative Industrial 3 /kg Polyurethane 2K Polyester 2K Epoxy 2K Unsaturated Polyester Alkyds VOC Directives Solvent-based 2 /kg Alkyds? Acrylics Water- Based Alkyds Styrene acrylics VAE 1K Chemical drying 1 /kg Cost /kg Water-based

31 Key Benefits of Ecoat polymers (alkyd resin) Reglementation Alkyd emulsion with low VOC Drying without any metal salts Performances Limited yellowing (low insaturation) Improved durability (low insaturation) Solvent born Alkyds Applicability Acrylic drying Environnemental Natural sourcing without competition with food products Eco-designed process Cost Usage cost close to an acrylic

32 New growth opportunities The Controlled Chemical drying technology will give access to new Market Segments ARCHITECTURAL INDUSTRIAL Trim Paints/ Lacke Decorative Varnishes Woodstains Wood Furniture Wood Parquet Lacquer 1K / 2K Industrial Coatings 1K / 2K Floor Paints Traffic Paints

33 Environmental benefits for your customers Products complies with Blue Angel requirements Lowest carbon footprint Ecoat is currently making its Carbon footprint analysis Renewable resources footprint are Neutral from Cradle to grave Negative from Cradle to gate Ecoat has faster production cycle time (less energy) than industry standards Bio-based polymer No competition with alimentary resources Ecoat is making measure on C14 datation to validate renewability Ecoat participates in label group (ACDV, Pure ) and helps the industry to move forward Suppression of Cobalt /heavy metal drier: fully compliant with REACH

34 ECOAT operations Research >1200 synthesis are run every year, leading to fast learning and high reactivity We collaborate with Universities (ITECH in Paint) We innovate together with customers Manufacturing 500T capacity available in 2013 Ecoat invest in an alkyd emulsion plant starting in Q Maximum capacity of T/year The plant is located in a large Chemical cluster leading to competitive cost structure. Plant will be in France with Harbor and Railroad access 4 hours drive from Germany

35 Thanks for your attention Please contact us at: