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Verde Bioresins to Go Public via Merger with TLGY Acquisition Corporation (TLGYU) streetinsider.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from streetinsider.com Daily Mail and Mail on Sunday newspapers.
Verde pioneered PolyEarthyleneTM, an innovative and proprietary bioresin that has the potential to replace traditional petroleum-based plastics and disrupt the plastics industry. It is an economically feasible alternative that is capable of being dropped into existing plastics manufacturing processes.
Verde is one of the first scalable full-service bio-resin market solutions we believe is capable of meeting most of the environmental, application, manufacturing, and cost requirements of the industry.
Verde’s current applications may be able to address nearly half of the approximate $600 billion total addressable global plastics market. Despite global regulatory and political pressures for eco-friendly solutions, green plastics currently have less than 2% market penetration.
Business combination implies a pre-money enterprise value of $365 million (pro forma EV of $433 million) on a cash-free and debt-free basis (excluding up to $365 million in perf ....
VPA of Houston recently began distributing Verde's PolyEarthylene-brand bioplastics in North America. Los Angeles-based Verde has made its materials at a plant in Fullerton, Calif., since 2019. ....