CitroTech and Hexion Form 50/50 Joint Venture

CitroTech and Hexion announced the formation of a 50/50 joint venture. Through this partnership, the companies will deploy next-generation fire-retardant solutions for the lumber and building materials industry, helping plywood, oriented strand board, and engineered wood manufacturers integrate built-in fire resistance more effectively and at a global scale. The collaboration combines CitroTech's patented, science-backed fire-retardant chemistry with Hexion's deep understanding of wood product manufacturing, trusted relationships across the industry, and proven ability to scale complex technologies for commercial adoption. Together, these capabilities position the venture to redefine how the market approaches fire protection in wood products, bringing it closer to the construction process and supporting safer, more sustainable building outcomes. With technology validated through more than a year of testing with several of North America's largest wood products companies, the joint venture is now positioned to secure these market leaders among its first commercial customers. The joint venture will address the limitations of traditional borate-based inhibitors, which are not environmentally friendly and rely on pressure treatment, which can weaken wood and lumber. CitroTech's solutions are engineered to penetrate wood fibers to prevent fire ignition, helping protect critical assets during emergencies. As the only long-term fire inhibitor recognized by the EPA's Safer Choice program-and backed by rigorous third-party testing, including UL GREENGUARD Gold certification and ASTM E84 Extended compliance-this technology offers a significantly safer formulation for people, pets, and the environment, enabling builders, manufacturers, and municipalities to meet increasingly strict safety and environmental standards. The jointly-owned Delaware JV will develop and expand on CitroTech's intellectual property and accelerate the manufacturing and sales of products. Hexion has committed capital to support commercialization, reflecting its confidence in the technology and its potential to raise the industry standard for fire protection in wood products. CitroTech CEO Wes Bolsen and Hexion President & CEO Michael Lefenfeld will serve on a three-member board to oversee strategic direction and governance.