VeriQuel R100 offers innovative and more
sustainable solution for insulation products
ICL (NYSE: ICL) (TASE: ICL), a leading global specialty
minerals company, today announced the launch of VeriQuel R100, an
innovative, reactive phosphorus flame retardant (FR) designed for
rigid polyurethane insulation products, such as those used for
sheathing, in-wall and PIR roofing - the preferred choice for more
than 70% of commercial roofs. ICL invested more than $2 million of
R&D into this groundbreaking phosphorus-based product, which
offers a more sustainable alternative to traditional additive flame
retardants.
VeriQuel R100 is a patented reactive product, which creates
built-in flame retardancy, meaning it chemically bonds with the
polymer matrix. This next generation technology not only ensures
long-lasting performance and stability, it also eliminates the
potential for the product to migrate. Additionally, it aligns with
stricter global regulations on environmental safety.
Importantly for customers, VeriQuel R100 is fully compatible
with current manufacturing processes, making it an easy transition
for manufacturers looking to improve their product’s sustainability
and compliance without additional formulating costs. To date, four
of the leading U.S. commercial roofing companies have launched
products with VeriQuel R100, with another six companies in the U.S.
and Europe currently in the product development phase.
“VeriQuel R100 has been formulated to meet fire safety
standards, but it is also valued for its sustainability
properties,” said Yaniv Kabalek, president of ICL’s Industrial
Products Division. “As the industry moves towards greener building
materials, and demand for sustainable building solutions increases,
VeriQuel R100 will be able to provide manufacturers with a
high-performance, environmentally responsible solution without
compromising on fire safety.”
According to Grand View Research, the global rigid polyurethane
foam market size was estimated to be ~$21 billion in 2023 and is
expected to grow at a CAGR of 5.8% from 2024 to 2030. The
construction industry drives primary demand for rigid polyurethane
foam and, as energy efficiency has become more predominant, the
market has witnessed an increase in demand, since rigid
polyurethane insulation helps reduce energy consumption and overall
infrastructure costs.
About ICL
ICL Group is a leading global specialty minerals company, which
creates impactful solutions for humanity's sustainability
challenges in the food, agriculture and industrial markets. ICL
leverages its unique bromine, potash and phosphate resources, its
global professional workforce, and its sustainability focused
R&D and technological innovation capabilities, to drive the
company's growth across its end markets. ICL shares are dual listed
on the New York Stock Exchange and the Tel Aviv Stock Exchange
(NYSE and TASE: ICL). The company employs more than 12,000 people
worldwide, and its 2023 revenues totaled approximately $7.5
billion.
For more information, visit ICL's website at icl-group.com.
To access ICL's interactive CSR report, visit
icl-group-sustainability.com.
You can also learn more about ICL on Facebook, LinkedIn,
YouTube, X and Instagram.
Forward Looking Statements
This announcement contains statements that constitute
forward‑looking statements, many of which can be identified by the
use of forward‑looking words such as “anticipate,” “believe,”
“could,” “expect,” “should,” “plan,” “intend,” “estimate” and
“potential,” among others.
Forward-looking statements appear in this press release and
include, but are not limited to, statements regarding the company’s
intent, belief or current expectations. Forward-looking statements
are based on management’s beliefs and assumptions and on
information currently available to management. Such statements are
subject to risks and uncertainties, and actual results may differ
materially from those expressed or implied in the forward-looking
statements due to various factors, including, but not limited to:
estimates, forecasts and statements as to management's expectations
with respect to, among other things, business and financial
prospects, financial multiples and accretion estimates, future
trends, plans, strategies, positioning, objectives and
expectations, general economic, market and business conditions,
supply chain and logistics disruptions, energy storage and electric
vehicle growth, the potential for new COVID-19 variants, global
unrest and conflict, governmental and regulatory requirements and
actions by governmental authorities, including changes in
government policy, changes in environmental, tax and other laws or
regulations and the interpretation thereof, and war or acts of
terror and/or political, economic and military instability in
Israel and its region, including the current state of war declared
in Israel and any resulting disruptions to our supply and
production chains. As a result of the foregoing, readers should not
place undue reliance on the forward‐looking statements contained in
this press release concerning the timing of the transaction, or
other more specific risks and uncertainties facing ICL, such as
those set forth in the “Risk Factors” section of its Annual Report
on Form 20-F filed on March 14, 2024, as such risk factors may be
updated from time to time in its Current Reports on Form 6-K and
other filings ICL makes with the U.S. Securities and Exchange
Commission from time to time.
Forward-looking statements refer only to the date they are made,
and the company does not undertake any obligation to update them in
light of new information or future developments or to publicly
release any revisions to these statements in order to reflect later
events or circumstances or to reflect the occurrence of
unanticipated events.
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version on businesswire.com: https://www.businesswire.com/news/home/20241211342100/en/
Investor and Press Contact – Global Peggy Reilly Tharp
VP, Global Investor Relations +1-314-983-7665
Peggy.ReillyTharp@icl-group.com
Investor and Press Contact - Israel Adi Bajayo ICL
Spokesperson +972-3-6844459 Adi.Bajayo@icl-group.com
ICL (NYSE:ICL)
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