Emulco

What Emulco does

Emulco N.V. is a Belgian specialty chemical company founded in 2005 in Ghent that develops, manufactures and toll-produces high-end water-based emulsions for industrial customers. Its portfolio spans three core chemistry platforms: AquaPib® (patented polyisobutylene emulsions, the first successful water-based emulsification of PIB globally), AquaPol® MRT55 (water-based EPDM emulsions produced via a strategic supply agreement with Lion Elastomers), and AquaVeg (bio-based vegetable wax emulsions serving as a zero-VOC alternative to mineral wax). The company's process backbone is the patented Fractagator® continuous emulsification device, a static-mixer architecture based on fractal flow patterns that delivers energy-efficient, submicron-droplet emulsions of high-viscosity polymers (up to 1,600 Pa.s) that are traditionally processed with hazardous solvents.

Emulco operates a one-of-a-kind three-tier lab-to-pilot-to-production facility at Ghent Seaport, with current capacity of 15,000 MT under one roof and a 50,000-tonne/year line opened in 2020, alongside a planned 100,000-tonne/year expansion. The company generates revenue through three streams: sale of proprietary specialty emulsions, toll and contract manufacturing services (typically under confidentiality agreements), and R&D plus formulation services ranging from raw material analysis to pilot upscaling. Its go-to-market is direct enterprise B2B sales, consultative and engineering-led, targeting verticals including wood panels, construction, paper, cosmetics, food packaging, coatings, crop protection and chemical manufacturing.

The business is founder-led (CEO Jean Vanhoebost) and self-funded through retained earnings and small grant awards (essenscia Innovation Award 2012 with BASF and a €134,886.72 European Interreg CrossRoads2 grant in 2017), with no identified venture capital or private equity involvement. Notable customers and partners include BASF, Lion Elastomers, Sestec and Feyter Industrial Services. The company's strategic positioning is built on sustainability — replacing solvent-based chemistry with water-based systems across multiple industrial applications — supported by a patent estate that includes the Fractagator® device, the PIB emulsification process and a pending high-viscosity polymer processing method.

Name

Emulco

Legal name

Emulco N.V.

Website

https://emulco.com

Company type

Private

Founded year

2005

Operating status

Operating

Headcount range

1–10 employees

Short description

Emulco is a Belgian specialty chemical company founded in 2005 that develops and toll-manufactures patented water-based emulsions of polyisobutylene (AquaPib®), EPDM (AquaPol®) and bio-wax (AquaVeg) for industrial customers across wood, construction, food packaging, cosmetics and coatings sectors.

Ownership category

akta.pro rank

Product category

Specialty Chemical Emulsions

NAICS

Adhesive Manufacturing (32552), Paint, Coating, and Adhesive Manufacturing (3255), Surface Active Agent Manufacturing (325613)

SIC

Miscellaneous Chemical Products (2890), Industrial Organic Chemicals (2860), Adhesives & Sealants (2891)

akta.pro primary industry

Emulsifiers & Stabilizer Systems (Lecithin, Mono/Diglycerides, Blends) (CRADAOAE)

Keywords

• Water-based emulsions
• Specialty chemical emulsions
• Polymer emulsification
• Toll manufacturing services
• Emulsion formulation

Headquarters

HQ city

Gent

HQ country

Belgium

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Operations, Personnel, Technology or R&D, Infrastructure, Supply Chain, Marketing or Sales

Revenue model

1. Specialty Emulsion Products: Sale of proprietary water-based emulsions including AquaPib®, AquaPol®, and AquaVeg to industrial customers across wood, construction, cosmetics, food packaging, chemical, and textile industries. Revenue is generated through product sales of formulated emulsions.
2. Toll/Contract Manufacturing: Emulco offers toll manufacturing and contract manufacturing services from its Ghent Seaport facility. The company has a three-tier lab to pilot to production facility with capacity from a few kilograms to bulk full truck loads. Manufacturing services include homogenizing, emulsifying, dispersing, blending, and mixing of liquid/liquid or liquid/solid formulations. Projects are typically conducted under confidentiality agreements.
3. R&D and Formulation Services: Laboratory and formulation services including raw material and finished product analysis (pH, water content, density, viscosity, particle size, FT-IR, rheology). R&D team develops formulations and re-formulations in close cooperation with customers. Third party research projects are executed for a wide array of customer requests. From lab embryonic ideas to full production level.

Go-to-market motion2 records

Distribution channels3 records

Marketing channels5 records

Core offering

Emulco manufactures and supplies water-based specialty emulsions — including vegetable wax (AquaVeg), polyisobutylene (AquaPib®), and EPDM (AquaPol® MRT55) emulsions — for industrial customers across wood, construction, cosmetics, food packaging, chemical, and textile industries. The company also sells its patented Fractagator® continuous emulsification device and provides toll manufacturing, laboratory analysis, and custom R&D/formulation services from a three-tier lab-to-pilot-to-production facility in Ghent, Belgium.

Product overview

Emulco is 'The Emulsion Company' offering a portfolio of specialized water-based emulsions and emulsification technology. The core product line includes four main offerings: AquaVeg (vegetable wax emulsions), AquaPib® (patented polyisobutylene emulsions), AquaPol® MRT55 (EPDM emulsions developed with Lion Elastomers), and Fractagator® (continuous emulsification equipment). The company also provides toll manufacturing and R&D services from lab to pilot to production scale.

Differentiator

Problem solved

Functional benefit

Brands

• AquaPib®: Patented water-based low viscosity emulsions based on polyisobutylene (PIB) molecule. PIB available in molecular weights up to 85,000 g/mol. Can be obtained from Mass Balance vegetable sources. Applications include sealants, adhesives, coatings, and anti-corrosion additives. Available in food contact or industrial grades.
• AquaPol®
• Fractagator®
• AquaVeg

Products and services

• AquaVeg Water-based emulsions from vegetable waxes (triglycerides) used as a sustainable, biodegradable alternative to mineral wax emulsions with zero VOC emissions. Targeted at wood panel (MDF, PB, OSB, CLT, LVL), paper, cosmetics, agrochemical, ink, and anti-corrosion applications; available in anionic and cationic forms, food-contact and industrial grades.
• AquaPib® Patented water-based low-viscosity emulsions based on polyisobutylene (PIB) for industrial customers. Handles PIB up to a molecular weight of 85,000 g/mol; available from Mass Balance vegetable sources. Used as sealants, adhesives, coatings, anti-corrosion additives, and construction chemicals; provides excellent water-vapor barrier and flexibility at very low temperatures (Tg -60°C).
• AquaPol® MRT55 Water-based low-viscosity emulsion of EPDM (Ethylene Propylene Diene Monomer) at 47,000 g/mol molar weight, crosslinkable with metal dryers, peroxides, or UV light. Converts into a solid EPDM membrane on crosslinking for roofing, waterproofing, barrier coatings (air, water, radon gas), construction coatings, and piping/fittings. Contains Lion Elastomers' Trilene® 65 L-EPDM polymer.
• Fractagator® Patented emulsification device based on fractal mixing using specially designed static mixer units that produce symmetric flow patterns similar to the baker's transformation. Enables continuous (rather than batch) emulsification of polymers or oils with viscosities of 10–1,600 Pa.s at processing temperature, achieving monodisperse submicron droplets with significant energy reduction versus traditional systems.
• Toll/Contract Manufacturing Services Confidential contract manufacturing services for homogenizing, emulsifying, dispersing, blending, and mixing of liquid/liquid or liquid/solid formulations. Suited for startups with limited manufacturing capability and established market-leading chemical producers needing additional capacity; conducted under confidentiality agreements to protect customer IP.
• Laboratory and Formulation Services Third-party R&D and formulation services including raw-material and finished-product analysis (pH, water content, density, viscosity, particle size, FT-IR, rheology) and the development of new formulations and re-formulations in close cooperation with customers from lab embryonic ideas through full production.

Quantifiable outcome

• Energy reduction in emulsification process compared to traditional batch systems through Fractagator® continuous production
• +3 more outcomes

Named customers2 records

Segments8 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Three partnerships are on record, tiered core and minor.

• Lion ElastomerscoreStrategic or Co-development Partner · 13 February 2024Emulco NV and Lion Elastomers signed a supply and distribution agreement for Trilene® 65 L-EPDM, a key ingredient for Emulco's new water-based EPDM dispersion products under the AquaPol® brand. The agreement gives Emulco rights to use Lion's Trilene® 65 L-EPDM as raw material for a new line of water-based emulsions. The two companies will work together to develop and launch new EPDM emulsion products worldwide. Lion Elastomers is a world leader in EPDM rubber and L-EPDM polymer production with over 60 years of experience and world-class production facilities in the U.S.
• SestecminorStrategic or Co-development Partner · 12 October 2023Emulco partnered with Sestec, a bio-based adhesives producer, to combine AquaVeg bio-emulsion with formaldehyde-free bio-based binders to produce zero-emission panel boards. The partnership was showcased at the International Panel Products Symposium (IPPS) organized by Bangor University's BioComposites Center in the UK. Both MDF and Particle Board panels treated with the combination passed lab and production tests with flying colors.
• BASFcoreStrategic or Co-development Partner · 25 October 2012Emulco and BASF formed a partnership that won the first essenscia Innovation Award in 2012 for their joint breakthrough technology to turn solid Polyisobutenes (PIB) into water-based emulsions. BASF, a multinational chemical company, partnered with Emulco, a small Belgian company, demonstrating the value of large-corporation and SME collaboration. The innovation is patented and expected to generate 300+ formulations within three years across construction, food, and cosmetics markets. Emulco invested multi-millions in a new production unit in Ghent Seaport as a result of this partnership.

Scale indicators7 records

Recent moves8 records

Expansion highlights6 records

Broad incumbents

• BYK (ALTANA): Specialty additives business serving coatings, adhesives, and construction with wetting, dispersing, and emulsifier systems. Comparable technology platform in surface chemistry additives used in similar end markets.
• BASF: Global chemical incumbent and Emulco's 2012 joint-development partner on PIB water emulsification. Operates a much broader portfolio across coatings, adhesives, and dispersions, providing direct competitive pressure in many of Emulco's end markets.
• Croda International: Specialty ingredients company with emulsifier systems for personal care, crop care, and industrial applications. Comparable in its bio-based and specialty emulsion offerings, particularly to Emulco's AquaVeg cosmetic and crop protection applications.
• Wacker Chemie: Specialty chemical company with a large polymer dispersions and silicone emulsions franchise serving construction, coatings, and paper. Comparable as a high-end water-based emulsion supplier with overlapping end markets.
• Hexion: Specialty resins and adhesives producer with epoxy and formaldehyde-free binder technology for wood panels. Comparable to Emulco's wood-panel adhesives positioning, particularly the Sestec partnership that targets zero-emission MDF and particle board.

Direct peers

• Synthomer: UK-listed specialty polymer emulsion producer with a portfolio overlapping Emulco's water-based dispersions, performance additives, and elastomeric emulsions serving construction, coatings, and adhesives. Most direct comparable in business model and product class.
• Trinseo: Specialty materials company producing latex binders, rubber emulsions, and performance dispersions for paper, construction, and coatings. Comparable in its water-based emulsion technology stack and customer base.
• Mallard Creek Polymers: US-based specialty emulsion manufacturer producing a broad range of polymer dispersions for adhesives, coatings, and construction. Comparable niche specialty emulsion business model serving similar B2B industrial customers.
• Omnova Solutions (now Synthomer): Specialty emulsion producer (now part of Synthomer) historically serving coatings, adhesives, and nonwovens with polymer dispersions. Highly comparable business model and end-market exposure to Emulco.

Emerging players

• Lion Elastomers: World leader in EPDM rubber and L-EPDM polymer production, and Emulco's 2024 strategic supply/distribution partner. Comparable as a raw material supplier in the EPDM value chain and a co-distributor for AquaPol® emulsions.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/emulcoseaport

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Emulco