Kuraray to acquire California-based startup Nelumbo

Kuraray Co., Ltd. (Headquarters: Chiyoda-ku, Tokyo; President: Hitoshi Kawahara) has decided to acquire Nelumbo Inc. (Headquarters: Hayward, California, USA; CEO: Liam Berryman; hereinafter "Nelumbo"), a company with unique materials technology for surface modification. The purchase price has not been disclosed.

Background of the Acquisition

Nelumbo was founded in 2016 as a technology start-up out of University of California, Berkeley and has been exploring the application and practical use of various substrate surface modification technologies. In 2023, we entered into an "Exclusive Partnership Agreement" with Nelumbo and have been working together to apply the surface modification technology to fibers and other polymer products.

Through this collaboration, we evaluated Nelumbo's technology and concluded that it has excellent potential to improve the functionality of substrate surfaces on a wide range of substrates, including water repellency, without using PFAS and other chemicals that are increasingly regulated.

The Kuraray Group has positioned "Innovation Starting with Networking" as one of the three challenges in its medium-term management plan, PASSION 2026, and is working to create new businesses. This technology will enhance and expand to Kuraray's base of polymer chemistry, synthetic chemistry, and related peripheral technologies and provide new value to the market.

Note: The headline, insights, and image of this press release may have been refined by the Fibre2Fashion staff; the rest of the content remains unchanged.

ALCHEMPro News Desk (HU)