New vegetable oil-based lubricant now available in Canada
June 11, 2012, Guelph, ON – A new vegetable oil-based multi-purpose lubricant is now available for sale in Canada. Smart Earth Corporation’s new EcoLube product was developed in Canada by Linneaus Plant Sciences Inc. as a green substitute for popular lubricant and penetrant products like WD-40. Its plant-based ingredients make it an environmentally friendly alternative to traditional petroleum-based products.
“This is the first lubricant product of this type developed by Linneaus Plant Science and we’re excited at what the future potential of this market might mean for the Canadian soybean industry,” says Jeff Schmalz, President of Soy 20/20. “We estimate this petroleum-based category segment to be around $40 million annually and the goal is to ultimately capture 10 – 20 per cent or more of that volume with environmentally friendly alternatives. And there are other segments within the category that represent incremental profitable opportunities for bio-based alternatives too.”
Soy 20/20, with funding support from Grain Farmers of Ontario and Linnaeus, helped shepherd the product through several stages of commercialization, including branding, packaging, production, marketing and business development. Soy 20/20 is now working with Smart Earth Corporation, based in Guelph, to develop a Canadian retail presence for Ecolube. Industrial bio-products like lubricants represent a growing market opportunity for Canadian farmers who grow soybeans and other oilseeds, as consumers are increasingly seeking environmentally friendly products made from renewable resources.
“Our mandate is to help grow the market for Canadian soybeans and in this case, we were pleased to work with industry to bring a product from concept through to commercialization,” says Schmalz.
“Soy 20/20 has provided fantastic commercialization assistance for Smart Earth Ecolube. We are excited to continue our working relationship as we develop a retail presence in Ontario,” adds Linnaeus owner Jack Grushcow.
June 19, 2012 By Soy 20/20