Customers of Duluth-based Vystar Corp. have found various uses for its Vytex brand natural rubber latex, using it in adhesives, exam gloves, pillows, surgical gloves and condoms.
Now, the company has scored a contract in a new line: balloons.
Pioneer Balloon Company, the largest U.S. balloon maker, said it will use Vytex for its premium product line, saying the patented material allows for superior color compared with balloons made with traditional natural rubber latex.
The value of the deal wasn't announced, but Vystar president and CEO Bill Doyle said the exposure is important in promoting Vytex. "They sell globally," he said of Pioneer.
Vytex is an all-natural raw material with significantly reduced levels of the antigenic proteins found in natural rubber latex that can cause allergies. For Vytex, Vystar chemically treats the latex, reducing the naturally-occurring proteins and other non-rubbers, making it virtually non-allergenic and pure.
The natural rubber latex market is worth several billion dollars annually, Doyle said, and Vystar would like to capture a portion. Vystar says Vytex can be used in more than 40,000 products.
Vystar has five employees in Duluth and makes Vytex overseas, close to sources of natural rubber. It was started by Georgia Tech graduate, chemist and serial entrepreneur Travis Honeycutt in 2001, and the company focused largely on research and development and testing through 2007.
Vystar reported $654,000 in revenue for the first nine months of 2010 and a net loss of $2.5 million for the period.
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