Mar 3 2003
Yulex have just secured $2 million in series B funding from Argonaut Private Equity.
Yulex possess proprietary formulations that could help satisfy the need for a safe, cost effective and high performance latex for critical medical products. Their formulations are based on natural rubber.
It is estimated that there are over 300 applications which “Guayule natural rubber latex” will be suited to. Some of these include medical gloves, condoms, catheters and chewing gum bases for drug delivery systems.
The funding will be used for agricultural expansion of Guayule, an indigenous desert shrub. It is the only other plant apart from Hevea, the Brazilian rubber tree that has been used for commercial latex production. The expansion will take place in te American states of California, Arizona, News Mexico and Texas.
In addition, a pilot plant will also be constructed later this year.
Guayule is the only natural rubber latex that is free of tropical proteins that cause type I latex allergy. It is superior to most synthetic materials and is suited to use in medical products and other applications.
For more information on rubber/elastomers, click here.