British Columbia Innovation Council

Congratulations to Polymer Research Technologies for progressing to the 3^rd round of this year's BCIC-New Ventures Competition.

Polymer Research Technologies takes polyurethane waste destined for landfills and turns it into a recycled polyol (RECYCLOPOL ®) that can be reused by the manufacturers to make more polyurethane. Polyurethanes are the most diverse and leading polymers in the global chemical industry with over 3,000 applications (thermal insulation, mattresses, automotives, coatings, main incubators, space labs, aviation and many others) within this growing industry sector.

Polyurethane wastes that are generated by product producers within this industry end up in landfills, with devastating non-reversible environmental effects.  Polymers do not decompose, remaining in landfills for thousands of years.

As polyols (the key raw material in polyurethane industry) are derived from fossil fuels, the increasing price of oil and need for more efficient and economical energy conservation materials mean demand for polyols are steadily increasing every year with major global shortages. Polymer Research Technologies has recently signed a Memorandum of Understanding with Kingspan Panels, the global leader for insulated metal panels, and Letters of Interest from other significant global players.

The ten companies advancing to the fourth and final round of the competition will be announced August 31, 2011. The finalists, each vying for a piece of the $375,000 in prize packages, will be awarded September 22, 2011 in Vancouver.

Learn more about the BCIC-New Ventures Competition and the 2^nd annual regional competition launching this fall at www.newventuresbc.com or on Twitter.  The five-month, three-round BCIC-New Ventures Competition: Regional is open to any BC resident located outside metro Vancouver who has not yet secured significant financing from outside investors