WORCESTER, Mass., June 03, 2019 (GLOBE NEWSWIRE) -- Vystar Corp. (OTC Pink: VYST) extended and expanded its multi-year contract with Ranjit K. Matthan, Ph.D., an internationally renowned latex and rubber science expert, a member of Vystar's Board of Directors and head of research and development for Vytex® rubber latex commercial and raw materials, to oversee multiple new initiatives. In this expanded role, he will steer R&D for the development of deproteinized dry rubber, which has potential for use in the US$227 billion global automotive tire market, as well as continue development of custom formulations for specific applications for Vytex deproteinized latex. Vystar has also contracted with Polymer Consultancy Services PLC (P) Ltd. (“PSC”) for execution of specific related R&D activities under the direction of Dr. Matthan. PSC is a highly respected for its innovative natural rubber science and technology services across the elastomer industry spectrum -- from plantation to products.
“Under Dr. Matthan’s direction, and with the research team he has assembled, we believe there is a tremendous opportunity for the development of a new class of deproteinized dry rubber that may exhibit superior characteristics that could be disruptive for the dry rubber industry,” stated Steve Rotman, CEO of Vystar. “We appreciate Dr. Matthan’s service as a member of our Board of Directors and his role in the R&D that opened the doors for ultra-low ammonia, pre-vulcanized and reduced-nitrosamine versions of Vytex NRL.”
Specific initiatives outlined in Dr. Matthan’s contract include:
- Broadening the range of products and applications for potential ultra-low protein latex (ULPL) initiative for sustainable product diversification for tire/non-tire segment;
- Provide oversight, guidance and technical and managerial support in a dedicated program which investigates and evaluates several new product initiatives, including:
- Work closely with PCS and other assigned groups to conduct R&D and technical support services
- Continue to help enforce royalties where possible
- Work with producer entities already associated with ULPL Vytex production and processing in Vietnam, Thailand, and Guatemala to further improve product quality and consistency;
- Encourage entities to move from trial to commercial scale production of Vytex;
- Improve supply chain logistics;
- Review and advise on Vystar patents and patent applications.
Dr. Matthan is on Vystar’s and PSC’s Board of Directors, and has been a consultant to Vystar since 2008. He has played a significant role in the manufacturing scale up of deproteinized Vytex® natural rubber latex (NRL) in Malaysia and refining the research and development of manufacturing processes for applications using Vytex NRL, such as latex foam for seating/ cushions/mattresses, condoms, adhesives, medical devices, etc.
“We are fortunate to have Dr. Ranjit Matthan, one of the foremost experts in NRL technology and rubber science leading R&D for Vytex,” noted William Doyle, Vystar former CEO and now advisory consultant. “He has helped Vystar develop the virtually odor-free, naturally stronger and longer lasting deproteinized latex the world has been seeking for decades. The possibilities for various applications are unlimited, giving Vystar a competitive advantage and I’m eager to work side by side with him on these projects.”
About Dr. Ranjit Matthan
The Government of India’s Ministry of India appointed Dr. Ranjit Matthan as President of a leading R&D institution -- India Rubber Manufacturers Research Association in January 2019. Dr. Matthan has been associated with the development of natural rubber and rubber-based industries manufacturing in South Asia since the 1970s and introduced technically specified natural rubber into India. He played a key role in the establishment of the Centre of Excellence for Tyre Research, Testing and Certification that was sanctioned by the Government of India. He has advised national and international companies and research bodies including the Government of India and the Malaysian Rubber Research and Development Board.
Dr. Matthan is a Fellow of the Institute of Materials, Minerals and Mines, U.K.(Royal Charter). He has received numerous industry awards, including: the prestigious 2014 Institute of Materials, Minerals and Mining, U.K.’s Hancock Medal for his contributions to the development of the environmentally friendly sustainable growth of the global natural rubber industry, and the 2006 KM Philip Award from the All India Rubber Industries Association for significant contributions toward the development of the Indian Rubber Industry. Dr. Matthan has published dozens of scientific and technical papers on natural rubber and lattices and is a regular speaker at numerous international conferences, including the International Latex Conference.
About Vystar Corporation:
Based in Worcester, Mass., Vystar® Corp. (OTC Pink: VYST) is the exclusive creator of Vytex Natural Rubber Latex (NRL), a multi-patented, all-natural, raw material that contains significantly reduced levels of the proteins found in natural rubber latex and can be used in over 40,000 products, and the owner of RxAir UV light air purification products. Vytex NRL is a 100% renewable resource, environmentally safe, "green" and fully biodegradable. Vystar is working with manufacturers across a broad range of consumer and medical products bringing Vytex NRL to market in adhesives, gloves, balloons, condoms, other medical devices and natural rubber latex foam mattresses, toppers, and pillows. For more information, visit www.vytex.com.
Contacts:
Media: Julie Shepherd, Accentuate PR, 847 275 3643, Julie@accentuatepr.com
Investors: Steven Rotman, Vystar CEO, 508-791-9114, srotman@vytex.com
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A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/da2f9550-6d18-4e35-bbad-b97f8462416f