BioBased Technologies, makers of BioBased Insulation, has recently reorganized it’s operations through Chapter 11. The plan allows BioBased to pay creditors in full over time while continuing to develop green, soy-based spray foam insulation and other products. After testing the waters in a few industrial markets they have decided to refocus the company on insulation and that sounds like a good idea.

“In today’s business climate, filing for Chapter 11 is not that rare,” said Michael Johnson, chief legal officer for BioBased Technologies®. “But we do realize that actually completing the process – securing funding, developing a reorganization plan and implementing that plan – is rare. We will not only continue operations, but we will actually be a stronger, more viable company because of this.”

Losing one of the biggest innovators in the soy-based spray foam industry would be a huge hit for spray foam contractors everywhere. It would be comparable to the closing of GM or Ford in the auto industry (obviously on a smaller financial scale.)  That is the reason that the US Government stepped in and bailed them out, consumer perception is everything in our economy. BioBased deserves to survive, here’s why…

Here is a list of awards/accolades that BioBased Technologies has received:

2009
• BioBased 501w named “Remodeler’s Choice Top 100 Products” by the readers on Qualified Remodeler Magazine
2008
• BioBased 1701s® named a Green Product Award winner by Building Products Magazine
• BioBased Technologies® received the Green Award from the Fayetteville
• Chamber of Commerce in recognition for their new corporate headquarters that is awaiting LEED
Silver certification
• BioBased Insulation® received the first Green Log Home and Lifestyle Award in the insulation category
• BioBased 1701s® named “Top 100 Building Products” by Building Products Magazine
2007
• BioBased 501w® named “Top 100 Products” by Residential Design & Build Magazine
2006
• BioBased Insulation® named Outstanding Environmental Business, Sierra Club of Arkansas
2005
• BioBased 501w® named “Top 10 Products” by Rural Builder Magazine
• BioBased 501w® named “Top 100 Products” by Residential Architecture Magazine
• BioBased Insulation® named “Top Seven Energy Efficient Innovations,” Smart Homeowner Magazine
2004
• BioBased 501w® named “Top 100 Products” by Building Products Magazine
• BioBased 501w® named “Top 50 Remodeling Products” by Qualified Remodeler Magazine
• BioBased 501w® named “#1 Requested Product” by Environmental Design+Construction Magazine
• BioBased 501w® named “Top 10 Green Building Products” by Building Products Magazine
2003
• BioBased 501w® named Building Green Top 10 Listing, GreenSpec© Product
• BioBased 501w® named Outstanding Green Product of the Year, National Green Building Conference