ExxonMobil announces licensing agreement to expand proprietary rebar processing technology to global markets

Spring, TX – October 31, 2024 – ExxonMobil announced today a strategic licensing agreement with Neuvokas Corporation, producer of GatorBar®, an industry leading glass fiber reinforced polymer (GFRP) composite rebar. Under this agreement, ExxonMobil has obtained exclusive rights to sub-license Neuvokas’ proprietary manufacturing process in markets outside of North America. This collaboration marks a significant step towards expanding the global market of composite rebar within the concrete reinforcement sector.

ExxonMobil’s Proxxima^TM system’s ultra-low viscosity and snap cure technology, paired with Neuvokas’ innovative process, enables production speeds up to 20 times faster than traditional composite rebar methods. This process efficiency makes GatorBar® one of the most cost competitive alternatives to traditional steel rebar. 

GatorBar® inherently results in corrosion free, lightweight, long-lasting GFRP rebar while its new Grip technology eliminates slivers common to GFRP competitors. These features further differentiate GatorBar® versus traditional steel by delivering reduced transportation costs, simplified handling, faster installation, potential for design optimizations, and value across a broad range of projects.

The collaboration highlights both companies’ dedication to driving technology innovation and proving cost-effective solutions for the construction industry.

###

About Neuvokas

Neuvokas, a company based in Ahmeek, Michigan, is the owner of GatorBar® technology. GatorBar®’s manufacturing processes, custom production lines, control systems and technologies were designed and constructed from scratch and incorporated into several patents. For further information about or how to purchase GatorBar®, please contact info@gatorbar.com, +1(906) 934-2661 or www.gatorbar.com. Follow us on LinkedIn.

About ExxonMobil

ExxonMobil, one of the largest publicly traded international energy and petrochemical companies, creates solutions that improve quality of life and meet society’s evolving needs.

The corporation’s primary businesses - Upstream, Product Solutions and Low Carbon Solutions – provide products that enable modern life, including energy, chemicals, lubricants, and lower emissions technologies. ExxonMobil holds an industry-leading portfolio of resources, and is one of the largest integrated fuels, lubricants, and chemical companies in the world. ExxonMobil also owns and operates the largest CO₂ pipeline network in the United States. In 2021, ExxonMobil announced Scope 1 and 2 greenhouse gas emission-reduction plans for 2030 for operated assets, compared to 2016 levels. The plans are to achieve a 20-30% reduction in corporate-wide greenhouse gas intensity; a 40-50% reduction in greenhouse gas intensity of upstream operations; a 70-80% reduction in corporate-wide methane intensity; and a 60-70% reduction in corporate-wide flaring intensity.

With advancements in technology and the support of clear and consistent government policies, ExxonMobil aims to achieve net-zero Scope 1 and 2 greenhouse gas emissions from its operated assets by 2050. To learn more, visit exxonmobil.com and ExxonMobil’s Advancing Climate Solutions.

Follow us on LinkedIn, Instagram and X.

Proxxima^TM thermosets provide a high-performance alternative to traditional resins, such as epoxy, vinyl ester and polyester. Designed to adapt to conventional processing methods, Proxxima ™ thermosets deliver a step change in production economics by leveraging Nobel Prize-winning catalyst technology. The resulting solutions challenge traditional tradeoffs, delivering lighter weight materials with a superior balance of strength and toughness.

For more information about Proxxima^TM systems, the next generation of high-performance polyolefin thermosets, please visit https://proxxima.com.