Riverdale Capital Ltd. has completed its acquisition of Nevada-based WSPVA Bio Products International LLC. Riverdale Capital now retains 100 percent ownership of WSPVA, which holds an exclusive license to develop and market a polyvinyl alcohol (PVA) film known as &ldquo;dissolving plastic&rdquo; through a patented machine technology in North America.
According to Aslan Halim, a consultant with Riverdale Capital, the PVA film is made from 100 percent starch-based alcohol. While some bioplastics companies use oils or additives to produce the material, Halim said WSPVA&rsquo;s licensed process does not. &ldquo;We don&rsquo;t use any form of oil or any kinds of additives with it,&rdquo; he said.
The product is very unique, continued Halim. The material is stronger than more traditional ethylene-based plastics. It is also very stable, and can be dissolved in water. &ldquo;After using it, you can just throw it in the sink, turn the hot water on, and it disappears right in front of your eyes,&rdquo; he said, noting that the material can also be composted or landfilled, where it will dissolve over time. It can be used in a wide range of applications, including plastic bags, clam shell packaging, plastic bottles and diapers.
According to Riverdale Capital, the product is competitively priced and can be sold for as much as 25 percent less than other plastics currently on the market. In addition, it dissolves in less than a month when composted or landfilled, without any additives. While the plastic is water-soluble and will dissolve under certain water temperatures, it is also considered to be extremely stable under extreme heat and other conditions. Furthermore, the quality of the production process has been ISO 9001-certified and evaluated by the Food and Drug Administration as &ldquo;Generally Considered Safe.&rdquo;
Initial commercial production of the bioplastic is scheduled to begin during the first quarter of 2011 in China, where the process was developed. An existing pilot-scale facility is being scaled-up to an annual production capacity of 60,000 metric tons, Halim said. There is currently no estimate as to when production in the U.S. could begin.
&ldquo;The acquisition gives [Riverdale Capital] a unique position in the green-technology arena of North America and provides an exciting platform for growth in the green-friendly clean-products markets,&rdquo; said Riverdale Capital President Carl Kruse. &ldquo;It will enable the company to either compete directly with plastic producers and/or license the technology to existing manufacturers of plastic products throughout North America. Riverdale anticipates many possible new and innovative uses for its new product.&rdquo;
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Riverdale Capital Ltd. has completed its acquisition of Nevada-based WSPVA Bio Products International LLC. Riverdale Capital now retains 100 percent ownership of WSPVA, which holds an exclusive license to develop and market PVA film. 

Riverdale Capital acquires WSPVA, bioplastics license

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