Herbolea Biotech Acquires Minority Stake in Agroils Technologies to Address Growing Demand for Bio-Based, Formaldehyde-Free Resins

Florence, Italy – 12th, August 2024 – Herbolea Biotech SpA, a leading innovator in bio-refining technologies, today announced that it has acquired a minority stake in Agroils Technologies Srl, joining forces with existing shareholders JOil Pte Ltd of Singapore and business angels group Jatropha11 Srl. This strategic move is poised to strengthen the development and commercialization of Agroils’ innovative bio-based resins in the wood panel sector.

The wood panel sector is facing increasing pressure to find alternatives to petro-derived, formaldehyde-based resins. Formaldehyde has been linked to cancer in humans. Agroils Technologies is at the forefront of developing environmentally friendly and high-performance bio-based resins to address this critical industry need.

“We decided to increase our participation in Agroils in light of the recent positive developments by Agroils in the wood panel sector, an industry that has been traditionally slow in embracing more sustainable and safer solutions. The company has been able to establish robust collaborations with leading wood panel manufacturers that are demonstrating commitment in validating Agroils' proprietary bio-resin technology.” said Giovanni Venturini Del Greco, CEO of Herbolea Biotech.

About Herbolea Biotech

Herbolea Biotech SpA is a leading biotech company in botanical extraction. With offices in Florence and Los Angeles, Herbolea aims at providing sustainable technologies for processing plants into high quality products for various industrial applications in the pharmaceutical, nutraceutical, flavor and fragrances sectors.

For more information, please contact:

Giovanni Venturini Del Greco, CEO Herbolea Biotech SpA

info@herbolea.com, +39 055 031 7151