{"success":true,"data":{"pressRelease":{"id":"2570","rtpr_id":"nBw1cppWca","ticker":"CITR","exchange":"NYSE American","all_tickers":["CITR"],"title":"CitroTech and Hexion Launch Global Joint Venture to Advance a New Standard in Next-Generation, Fire-Protected Wood Products","author":"Business Wire","published_at":"2026-04-21T12:00:01.469Z","article_body":"CitroTech and Hexion Launch Global Joint Venture to Advance a New Standard in\nNext-Generation, Fire-Protected Wood Products\n\nNew venture combines breakthrough fire retardant chemistry with industrial\nscale to help manufacturers produce sustainable Class A fire-rated materials\nfor commercial and residential construction\n\nCitroTech Inc. (NYSE AM: CITR), a leading specialty chemical company\ndelivering environmentally-safe fire inhibitor solutions, and Hexion Inc., a\nleading global producer of adhesives and performance materials and American\nSecurities portfolio company, today announced the formation of a 50/50 joint\nventure. Through this partnership, the companies will deploy next-generation\nfire-retardant solutions for the lumber and building materials industry,\nhelping plywood, oriented strand board (OSB), and engineered wood\nmanufacturers integrate built-in fire resistance more effectively and at a\nglobal scale.\n\nThis press release features multimedia. View the full release here:\nhttps://www.businesswire.com/news/home/20260421081775/en/\n(https://www.businesswire.com/news/home/20260421081775/en/)\n\nThe collaboration combines CitroTech’s patented, science-backed\nfire-retardant chemistry—the only formulation recognized under the\nEnvironmental Protection Agency’s (EPA) Safer Choice program—with\nHexion’s deep understanding of wood product manufacturing, trusted\nrelationships across the industry, and proven ability to scale complex\ntechnologies for commercial adoption. Together, these capabilities position\nthe venture to redefine how the market approaches fire protection in wood\nproducts, bringing it closer to the construction process and supporting safer,\nmore sustainable building outcomes. With technology validated through more\nthan a year of testing with several of North America’s largest wood products\ncompanies, the joint venture is now positioned to secure these market leaders\namong its first commercial customers.\n\nThe joint venture will address the limitations of traditional borate-based\ninhibitors, which are not environmentally friendly and rely on pressure\ntreatment, which can weaken wood and lumber. CitroTech’s solutions are\nengineered to penetrate wood fibers to prevent fire ignition, helping protect\ncritical assets during emergencies. As the only long-term fire inhibitor\nrecognized by the EPA’s Safer Choice program—and backed by rigorous\nthird-party testing, including UL GREENGUARD Gold certification and ASTM E84\nExtended compliance—this technology offers a significantly safer formulation\nfor people, pets, and the environment, enabling builders, manufacturers, and\nmunicipalities to meet increasingly strict safety and environmental standards.\n\n“We’re accelerating a shift away from pressure-treated wood products,\nwhich can compromise structural integrity and introduce health and\nenvironmental concerns, toward a new era of built-in fire protection,” said\nWes Bolsen, CEO of CitroTech. “In the face of a growing wildfire crisis,\nbuilders, contractors, and homeowners need fundamentally better solutions.\nThis is about setting a new standard for achieving the highest levels of fire\nprotection—with a solution that soaks in to penetrate wood and lumber at the\nmolecular level without compromising performance, enabling more resilient\ninfrastructure at unprecedented scale.”\n\n“The wood products industry is ready for a new standard in fire protection,\nand Hexion is positioned to lead that shift,” said Michael Lefenfeld,\nPresident and CEO of Hexion. “This partnership reflects a clear strategic\npriority: bringing differentiated, high-value technologies to the building and\nconstruction market at commercial scale. By combining CitroTech’s\nbreakthrough chemistry with Hexion’s manufacturing strength, technical\ndepth, and commercial reach, we can help customers build fire performance\ndirectly into the production process more efficiently, more reliably, and at\nfar greater scale.”\n\nThe jointly-owned Delaware JV will develop and expand on CitroTech’s\nintellectual property and accelerate the manufacturing and sales of products.\nHexion has committed capital to support commercialization, reflecting its\nconfidence in the technology and its potential to raise the industry standard\nfor fire protection in wood products.\n\nCitroTech CEO Wes Bolsen and Hexion President & CEO Michael Lefenfeld will\nserve on a three-member board to oversee strategic direction and governance.\n\nAbout CitroTech Inc.\n\nCitroTech Inc. (NYSE AM: CITR) is manufacturing and deploying the CitroTech\nfamily of innovative, environmentally safe fire prevention solutions for\nhomes, wood products, and wildfire prevention and asset protection. CitroTech\nis the only long-term fire inhibitor recognized by the EPA Safer Choice\nprogram and tested to UL GREENGUARD Gold standards, providing effective and\nscientifically validated wildfire mitigation while safeguarding human and\nenvironmental health. The company’s growing patent portfolio,\nrecurring-revenue model, and scalable approach support its long-term growth\nand market expansion. For more information, visit www.citrotech.com\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.citrotech.com&esheet=54518838&newsitemid=20260421081775&lan=en-US&anchor=www.citrotech.com&index=1&md5=cfe6a89cf0456409c09efe55b3d5a8d5)\n.\n\nAbout Hexion Inc.\n\nHexion is a global leader in adhesives, resins, and performance materials,\ndelivering integrated solutions that help customers improve manufacturing\nperformance and solve complex operational challenges. Building on more than\n170 years of chemical expertise, the company combines deep capabilities in\nchemistry, manufacturing, process optimization, and AI-enabled technologies to\ndeliver measurable gains in throughput, consistency, uptime, efficiency, and\nsustainability. Hexion’s solutions support customers across wood products,\nindustrial, and specialty markets, including the advancement of renewable,\ncellulosic-based materials that reduce reliance on traditional inputs while\nmaintaining or improving performance. With a long legacy of reliability and a\nfocus on practical innovation, Hexion helps customers achieve stronger results\ntoday while preparing for what’s next. Learn more at www.hexion.com\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.hexion.com%2F&esheet=54518838&newsitemid=20260421081775&lan=en-US&anchor=www.hexion.com&index=2&md5=22e5c60981fed84eea7555ebc7d51e21)\n.\n\n\n\nView source version on businesswire.com:\nhttps://www.businesswire.com/news/home/20260421081775/en/\n(https://www.businesswire.com/news/home/20260421081775/en/)\n\nMedia & Investor Contact: \n\nCitroTech Inc.\n\nIsabella Sarlo\n\nAntenna Group\n\nCitroTech@antennagroup.com \n(mailto:CitroTech@antennagroup.com) \n(516) 526-9227\n\nInvestor Relations Contact: \n\nBrett Maas, Managing Principal\n\nHayden IR, LLC\n\nCITR@haydenir.com \n(mailto:CITR@haydenir.com) \n(480) 861-2425\n\n\nCopyright Business Wire 2026","article_body_html":"","raw_payload":{"data":{"id":"nBw1cppWca","title":"CitroTech and Hexion Launch Global Joint Venture to Advance a New Standard in Next-Generation, Fire-Protected Wood Products","author":"Business Wire","ticker":"CITR","created":"2026-04-21T12:00:01.469Z","tickers":["CITR"],"exchange":"NYSE American","article_body":"CitroTech and Hexion Launch Global Joint Venture to Advance a New Standard in\nNext-Generation, Fire-Protected Wood Products\n\nNew venture combines breakthrough fire retardant chemistry with industrial\nscale to help manufacturers produce sustainable Class A fire-rated materials\nfor commercial and residential construction\n\nCitroTech Inc. (NYSE AM: CITR), a leading specialty chemical company\ndelivering environmentally-safe fire inhibitor solutions, and Hexion Inc., a\nleading global producer of adhesives and performance materials and American\nSecurities portfolio company, today announced the formation of a 50/50 joint\nventure. Through this partnership, the companies will deploy next-generation\nfire-retardant solutions for the lumber and building materials industry,\nhelping plywood, oriented strand board (OSB), and engineered wood\nmanufacturers integrate built-in fire resistance more effectively and at a\nglobal scale.\n\nThis press release features multimedia. View the full release here:\nhttps://www.businesswire.com/news/home/20260421081775/en/\n(https://www.businesswire.com/news/home/20260421081775/en/)\n\nThe collaboration combines CitroTech’s patented, science-backed\nfire-retardant chemistry—the only formulation recognized under the\nEnvironmental Protection Agency’s (EPA) Safer Choice program—with\nHexion’s deep understanding of wood product manufacturing, trusted\nrelationships across the industry, and proven ability to scale complex\ntechnologies for commercial adoption. Together, these capabilities position\nthe venture to redefine how the market approaches fire protection in wood\nproducts, bringing it closer to the construction process and supporting safer,\nmore sustainable building outcomes. With technology validated through more\nthan a year of testing with several of North America’s largest wood products\ncompanies, the joint venture is now positioned to secure these market leaders\namong its first commercial customers.\n\nThe joint venture will address the limitations of traditional borate-based\ninhibitors, which are not environmentally friendly and rely on pressure\ntreatment, which can weaken wood and lumber. CitroTech’s solutions are\nengineered to penetrate wood fibers to prevent fire ignition, helping protect\ncritical assets during emergencies. As the only long-term fire inhibitor\nrecognized by the EPA’s Safer Choice program—and backed by rigorous\nthird-party testing, including UL GREENGUARD Gold certification and ASTM E84\nExtended compliance—this technology offers a significantly safer formulation\nfor people, pets, and the environment, enabling builders, manufacturers, and\nmunicipalities to meet increasingly strict safety and environmental standards.\n\n“We’re accelerating a shift away from pressure-treated wood products,\nwhich can compromise structural integrity and introduce health and\nenvironmental concerns, toward a new era of built-in fire protection,” said\nWes Bolsen, CEO of CitroTech. “In the face of a growing wildfire crisis,\nbuilders, contractors, and homeowners need fundamentally better solutions.\nThis is about setting a new standard for achieving the highest levels of fire\nprotection—with a solution that soaks in to penetrate wood and lumber at the\nmolecular level without compromising performance, enabling more resilient\ninfrastructure at unprecedented scale.”\n\n“The wood products industry is ready for a new standard in fire protection,\nand Hexion is positioned to lead that shift,” said Michael Lefenfeld,\nPresident and CEO of Hexion. “This partnership reflects a clear strategic\npriority: bringing differentiated, high-value technologies to the building and\nconstruction market at commercial scale. By combining CitroTech’s\nbreakthrough chemistry with Hexion’s manufacturing strength, technical\ndepth, and commercial reach, we can help customers build fire performance\ndirectly into the production process more efficiently, more reliably, and at\nfar greater scale.”\n\nThe jointly-owned Delaware JV will develop and expand on CitroTech’s\nintellectual property and accelerate the manufacturing and sales of products.\nHexion has committed capital to support commercialization, reflecting its\nconfidence in the technology and its potential to raise the industry standard\nfor fire protection in wood products.\n\nCitroTech CEO Wes Bolsen and Hexion President & CEO Michael Lefenfeld will\nserve on a three-member board to oversee strategic direction and governance.\n\nAbout CitroTech Inc.\n\nCitroTech Inc. (NYSE AM: CITR) is manufacturing and deploying the CitroTech\nfamily of innovative, environmentally safe fire prevention solutions for\nhomes, wood products, and wildfire prevention and asset protection. CitroTech\nis the only long-term fire inhibitor recognized by the EPA Safer Choice\nprogram and tested to UL GREENGUARD Gold standards, providing effective and\nscientifically validated wildfire mitigation while safeguarding human and\nenvironmental health. The company’s growing patent portfolio,\nrecurring-revenue model, and scalable approach support its long-term growth\nand market expansion. For more information, visit www.citrotech.com\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.citrotech.com&esheet=54518838&newsitemid=20260421081775&lan=en-US&anchor=www.citrotech.com&index=1&md5=cfe6a89cf0456409c09efe55b3d5a8d5)\n.\n\nAbout Hexion Inc.\n\nHexion is a global leader in adhesives, resins, and performance materials,\ndelivering integrated solutions that help customers improve manufacturing\nperformance and solve complex operational challenges. Building on more than\n170 years of chemical expertise, the company combines deep capabilities in\nchemistry, manufacturing, process optimization, and AI-enabled technologies to\ndeliver measurable gains in throughput, consistency, uptime, efficiency, and\nsustainability. Hexion’s solutions support customers across wood products,\nindustrial, and specialty markets, including the advancement of renewable,\ncellulosic-based materials that reduce reliance on traditional inputs while\nmaintaining or improving performance. With a long legacy of reliability and a\nfocus on practical innovation, Hexion helps customers achieve stronger results\ntoday while preparing for what’s next. Learn more at www.hexion.com\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.hexion.com%2F&esheet=54518838&newsitemid=20260421081775&lan=en-US&anchor=www.hexion.com&index=2&md5=22e5c60981fed84eea7555ebc7d51e21)\n.\n\n\n\nView source version on businesswire.com:\nhttps://www.businesswire.com/news/home/20260421081775/en/\n(https://www.businesswire.com/news/home/20260421081775/en/)\n\nMedia & Investor Contact: \n\nCitroTech Inc.\n\nIsabella Sarlo\n\nAntenna Group\n\nCitroTech@antennagroup.com \n(mailto:CitroTech@antennagroup.com) \n(516) 526-9227\n\nInvestor Relations Contact: \n\nBrett Maas, Managing Principal\n\nHayden IR, LLC\n\nCITR@haydenir.com \n(mailto:CITR@haydenir.com) \n(480) 861-2425\n\n\nCopyright Business Wire 2026"},"type":"article","timestamp":"2026-04-21T12:00:01.613481434Z","server_sent_at_ms":1776772801613},"received_at":"2026-04-21T12:00:01.673Z","source_url":"https://www.businesswire.com/news/home/20260421081775/en/"},"analysis":{"id":"1622","press_release_id":"2570","analysis_json":{"industry":{"label":"Materials","sector":"Materials"},"redFlags":[],"eventType":"partnership","narrative":"CitroTech and Hexion formed a 50/50 global joint venture to manufacture and sell next-generation fire-retardant solutions for the lumber and building materials industry.\n\nThe partnership combines CitroTech’s EPA Safer Choice-recognized chemistry with Hexion’s manufacturing scale and commercial relationships, targeting large North American wood products companies as initial customers.\n\nHexion has committed capital to support the commercialization effort, with both CEOs serving on the venture's governing board.","sentiment":"bullish","agentHooks":{"shouldPost":true,"suggestedAngle":"Strategic 50/50 JV with Hexion validates CitroTech's tech and unlocks immediate industrial scale for commercial rollout."},"keyFigures":{"customDimensions":{"jv_split":"50/50"}},"quotedText":"We’re accelerating a shift away from pressure-treated wood products, which can compromise structural integrity and introduce health and environmental concerns, toward a new era of built-in fire protection","namedEntities":{"people":[{"name":"Wes Bolsen","role":"CEO of CitroTech"},{"name":"Michael Lefenfeld","role":"President and CEO of Hexion"}],"products":["CitroTech family of innovative, environmentally safe fire prevention solutions","fire-retardant chemistry","next-generation fire-retardant solutions"],"companies":[{"name":"CitroTech Inc.","ticker":"CITR","relationship":"filer"},{"name":"Hexion Inc.","relationship":"partner"},{"name":"American Securities","relationship":"investor (Hexion parent)"},{"name":"Antenna Group","relationship":"Media & Investor Contact (PR firm)"},{"name":"Hayden IR, LLC","relationship":"Investor Relations Contact"}],"dollarAmounts":[]},"materialImpact":{"score":4,"reasoning":"Formation of a 50/50 global joint venture with a strategic partner (Hexion) to commercialize CitroTech's core technology. 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