SOUTH CHARLESTON, W.Va.; January 31, 2022 – Mid-Atlantic Technology, Research & Innovation Center (MATRIC) today announced that its long-term partner, Iowa Corn Promotion Board (ICPB), recently announced that it has entered into an Asset Purchase Agreement with another company for it to acquire ICPB’s patents, technology and rights for the process technology to produce monoethylene glycol (MEG) from surplus corn plant-based feedstocks.

MATRIC has been working with ICPB on its MEG technology development since 2013. Together, the team’s innovations and technology developments have generated new demand for corn-based products. Corn-based MEG is used to produce renewable plastics, replacing oil and reducing impacts on the environment.

“The sale of this technology is validation of the market value that our team creates for our customers,” said Dr. Jack Dever, MATRIC Chief Technology Officer. “At MATRIC, we work tirelessly to deliver excellence to our customers and support their efforts to create value for their company, customers and shareholders.”

ICPB represents thousands of Iowa farmers to create an economic climate in which the Iowa corn industry will be successful through research, market development and education. The primary focuses of ICPB are to:

· Expand markets and promote corn in all forms

· License technology for value-added products through research

· Educate consumers, farmers and key decision makers

· Protect and improve the crop land, water and natural resources

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About MATRIC | Mid-Atlantic Technology, Research & Innovation Center
 MATRIC is the strategic innovation partner of choice that provides uncommon expertise and infrastructure to solve the most challenging science and technology problems. Focusing on the areas of chemical, energy and environmental technologies, technical engineering and advanced software technologies, MATRIC delivers innovation from concept to commercialization. We utilize our experienced and renowned staff, unique laboratory and pilot plant facilities, and flexible intellectual property models to create value for customers and investors around the world. We are an energized and expanding company that works from facilities in South Charleston and Morgantown, W.Va. www.matricinnovates.com

 

Media Contact: Katie Regan katie.regan@matricinnovates.com (304) 720.8612 x9850