Founded in 2005 in Ghent, Emulco has gradually grown over the past ten years to become a respected R&D centre with in-depth knowledge of emulsification techniques and the formulation of high-end emulsions, mainly based on natural ingredients (rapeseed, soy, coconut oil, etc.). The main outlets for these bio-degradable emulsions are currently found in laminated wood panels and paper packaging for food contact as a replacement for plastic packaging.
The company was already in the news in 2012, following a major breakthrough that was awarded the prize for the most promising innovation in its sector by the chemical and life sciences federation Essenscia. Polyisobutene (PIB), a water-repellent plastic that does not allow gas, air or water to pass through, is certainly very resistant and one of the most versatile in the world – it is used for sealing double glazing, roofs, electrical cables and even in chewing gum, cosmetics or nuclear power plants – but it is also and above all a viscous and fairly hard plastic. Thanks to an in-house process developed by Emulco, it can now be made liquid and easier to work with, allowing it to be mixed with paints that repair cracks, for example. Based on this result, the then start-up company signed a contract with the German chemical giant BASF to supply the PIB. After a pilot plant project, a real plant with a capacity of some 50,000 tonnes was inaugurated in 2014 in the port of Ghent, Belgium’s third largest port. This production site is located on land leased from Flemish entrepreneur Philippe Van de Vyvere (Sea-Invest), who also provides industrial facilities.
In order to reduce its debt resulting from major investments and to meet the growing demand for natural products, the company, which employs around ten people, has just carried out a capital increase of 3 million euros, it has been learned. The listed holding company of former CNP employees, Whitestone Group, announced on Tuesday that it had taken a 25% stake in the company for an amount of just over 1.5 million. The ex-CEO of Magotteaux and Hamon, Bernard Goblet, has also taken a 24% stake. Goblet is still on the board of Prayon, the Liege-based company and world leader in phosphate chemistry.
Until now, Emulco was 100% owned by its founder, Jean Vanhoebost. The latter will retain 51% of the capital following the operation, as well as his CEO’s hat.
October 11, 2022 at 18:01
