Rhino Linings to Strengthen Development of Polyols with Acquisition of BioBased Insulation

SAN DIEGO, CA -- Rhino Linings Corporation, a global provider of protective polyurethane, polyurea, polyaspartic and epoxy coatings announced the acquisition of BioBased Insulation, a division of BioBased Technologies LLC. At the same time, BioBased Technologies LLC, a leader in the sales and marketing of Agrol, a bio-based family of polyols used in manufacturing, is acquiring the Soyol polyol and related technology assets from Rhino Linings.

The strategic alliance of both companies will allow BioBased Technologies LLC to focus on the development and continual improvement of renewable and sustainable solutions for the chemical industry with a large portfolio of bio-based polyols, and Rhino Linings to focus on spray foam systems for residential and commercial insulation. BioBased Insulation is Rhino Linings second acquisition in the soy system business this year. Earlier this year, Rhino Linings acquired Soyol polyol technology from Urethane Soy Systems Company.

"This acquisition strengthens our commitment to be one of the leading spray system providers by expanding our current product line and offering the best products available," says Pierre Gagnon, President and CEO of Rhino Linings Corporation. "The spray foam insulation market is experiencing rapid global growth. We are now positioned to have a stronger footprint in this business."

"Were excited about the opportunity for growth that this exchange gives our company. The acquisition of the Soyol group of technology will strengthen our ability to meet our customers needs to provide greener solutions to the market place," adds Amy Sorrell, CEO of BioBased Technologies.

BioBased Insulation spray polyurethane products help to lessen the environmental impact of residential and commercial structures. The biggest benefit to the environment comes from the performance of the products which increase the energy efficiency of buildings and reduces their carbon footprint.

Rhino will relocate BioBased Insulation operations to the Rhino facilities in Carrollton, TX. Terms of the acquisition were not released.

About Rhino Linings Corporation

Rhino Linings Corporation, established in 1988 and headquartered in San Diego, California, is a privately-held corporation and world leader in sprayed and/or rolled urethane, polyaspartic and epoxy coatings and linings for industrial, municipal and residential applications. Business units include Vehicle Protection, Industrial, Epoxy, Flooring and Military. Rhino Linings Corporation has a global retail and industrial applicator network consisting of more than 2000 independently owned businesses and contractors in almost 80 countries and is the first ever spray-on bed liner company to achieve the ISO 9001 certification.

About BioBased Insulation

BioBased Insulation is a division of BioBased Technologies LLC which is focused on developing and bringing to market safe products that reduce the use of non-renewable resources either by integrating renewable ingredients or by improving energy efficiency. Headquartered in Northwest Arkansas, the company is a leader in sales of bio-based polyols, spray foam insulation and sealants. Spray polyurethane foam insulation and sealants are just a few of the commercial uses for Agrol polyols, which also are products of BioBased Technologies.