HOUSTON, Nov. 15, 2019 /PRNewswire/ -- Kraton Corporation
(NYSE: KRA), a leading global producer of styrenic block
copolymers, specialty polymers and high-value performance products
derived from pine wood pulping co-products, announces that it was
selected as a Finalist for the Global Cooling Prize that was
presented at the Finalist Award Ceremony on Friday, November 15 in New Delhi, India.
Kraton's entry is the NexarCool™ technology, a unique and
innovative air conditioning redesign of the century-old evaporative
cooling technology. By leveraging its Nexar™ copolymer with
exceptional moisture transport properties, the newly-designed air
conditioner (A/C) is expected to achieve high-energy efficiency
without the use of a refrigerant. Kraton's collaborators for the
Global Cooling Prize project include India Institute of
Technology Bombay (IITB), Porus Lab
and Infosys – all of which are located in India – with the assistance of Texas A&M University in the USA. Infosys
is engaged for the computer modeling of the A/C's engineering and
design.
"Kraton is proud to be part of a collective effort to solve the
global cooling challenge," said Dr. Vijay
Mhetar, Senior Vice President and Chief Technology Officer
at Kraton. "We are honored to be selected as a Finalist with our
design, an innovative water-based, energy-efficient and affordable
cooling technology that can make a positive difference for people
around the globe."
The Global Cooling Prize is an innovation competition to
identify a breakthrough residential cooling technology with five
times less climate impact. The international competition is backed
by Sir Richard Branson and the
Indian government with a $3 million
prize awarded over two years for a better A/C. The winning
technology will receive at least $1
million. The prize is administered by Rocky Mountain
Institute, Conservation X Labs, Alliance for an Energy Efficient
Economy and CEPT University.
Out of 2,100 participant registrations – from innovators,
start-ups, research institutes, universities and key A/C industry
manufacturers – 445 teams submitted their preliminary ideas through
the intent-to-apply form. About 139 teams from 31 countries
followed through with their submission of the full detailed
technical application. Finalists – including Kraton – received
$200,000 to build prototypes, which
will be tested in a lab that simulates the climate in different
Indian cities.
About Kraton Corporation
Kraton Corporation (NYSE:
KRA) is a leading global producer of styrenic block copolymers,
specialty polymers and high-value performance products derived from
pine wood pulping co-products. Kraton's polymers are used in a wide
range of applications, including adhesives, coatings, consumer and
personal care products, sealants and lubricants, medical,
packaging, automotive, paving and roofing applications. As the
largest global provider in the pine chemicals industry, the
company's pine-based specialty products are sold into adhesive,
road and construction and tire markets, and it produces and sells a
broad range of performance chemicals into markets that include fuel
additives, oilfield chemicals, coatings, metalworking fluids and
lubricants, inks and mining. Kraton offers its products to a
diverse customer base in numerous countries worldwide. Kraton and
the Kraton logo are all trademarks of Kraton Corporation, or its
subsidiaries or affiliates.
Media Contact: Thao Pham; T:
(281) 770-1380
Investor Relations Contact: Gene
Shiels; T: (281) 504-4886
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SOURCE Kraton Corporation