21 Oct 2005
From Rubber & Plastics News
Carlsbad, California-Yulex Corp. has closed an $8-million (Euro 6.65-million) Series C funding deal with Argonaut Private Equity, bringing the firm's total raised capital to $12.5 million, according to the company.
Yulex, founded in 1997, holds a license from the US Department of Agriculture to commercialise the latex produced from guayule, a southwestern desert shrub, according to USDA-patented processes. Various clinical tests have shown guayule latex produced under USDA guidelines to be hypoallergenic to health care workers and others sensitive to traditional natural rubber latex.
Reports indicate that the $8 million will be used to expand Yulex's guayule plantings and its pilot latex production plant in Maricopa, California.
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