Business Description
Vystar Corporation is the creator and exclusive owner of the innovative technology
to produce Vytex® Natural Rubber Latex (“NRL”). The Vytex Division
contains our global multi-patented technology that reduces antigenic and total
protein in natural rubber latex products to virtually undetectable levels. Vytex
NRL, our “ultra-low protein” natural rubber latex has been introduced
throughout the worldwide marketplace that uses NRL or latex substitutes as a
raw material for end products. Natural rubber latex or latex substitutes are
used in an extensive range of products including balloons, textiles, footwear
and clothing (threads), adhesives, foams (mattresses, pillows, mattress toppers,
etc.), furniture (foam and adhesives), carpet, paints, coatings, protective
equipment, sporting equipment, and, especially health care products such as
condoms, surgical and exam gloves, among others. Our challenge has been that
a manufacturer’s conversion from the use of standard latex or synthetic
raw material to Vytex NRL involves a protracted sales cycle ranging from eighteen
to thirty six months. Additionally, in the past, our primary method of distribution
was via toll manufacturing. We now have several licensing agreements in place
for global distribution that have allowed us to focus on and transition to sales
and marketing with a technical oversight.
Natural rubber latex is an agricultural product produced from the sap of the
rubber tree, Hevea brasiliensis. According to the most recent data available
and obtained on the International Rubber Study Group web site (www.rubberstudy.com)
and dated January 6, 2015: the total world rubber demand is forecast to increase
at 1.8% and 4.1% in 2015 and 2016 respectively, growing below the long-term
growth rate of 3.7% under the IMF Scenario to 29.1 million tonnes in 2015 and
to 30.3 million tonnes in 2016.
Substantially all of the latex processors are located in Southeast Asia, India,
Africa and Latin America and are owned by local groups or large multinational
corporations. This future demand is awakening interest in other areas of the
world where the climate is suitable, particularly in Guatemala, where focus
now shifts to certifications from the Forestry Stewardship Council and Rainforest
Alliance, as a specialty latex... In addition to the resurgence of Central and
South America in natural rubber latex production, countries such as Vietnam
and Cambodia have launched major efforts to meet the needs of the global liquid
natural rubber latex market. Vietnam is now a major processor of our Vytex NRL
and several trial runs of the specialty offerings discussed below that are in
place for manufacturer trials and we now have two producers in Guatemala, one
in the trial phase.
Our initial product portfolio included Vytex NRL in high ammonia (HA) and low
ammonia (LA) formulations. New specialized formulations are projected to come
to market over the next year with trials in ultra-low ammonia, pre-vulcanised
and low nitrosamine versions currently taking place. Vystar has used its technology
to work with customers to solve production issues and provide them with a point
of difference and guidance as research using Vytex has headed into directions
previously thought to be off-limits to natural rubber latex. It appears to be
the removal of the vast majority of the proteins, the carotenoids and the non-rubbers
that affords Vytex NRL this opportunity.
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