- Goodyear Tire & Rubber Co (NASDAQ:GT) partners with Ohio-based Farmed Materials to develop a domestic source of natural rubber from a specific species of dandelion.
- The multi-year, multi-million-dollar program is supported by the U.S. Department of Defense (DoD), the Air Force Research Lab (AFRL), and BioMADE.
- Taraxacum kok-saghyz, a species of dandelion known as TK, has proven to be a valuable alternative to natural rubber trees.
- Farmed Materials has shown initial positive results in pilot programs for TK, yielding strong harvests that require additional planting and funding.
- Backed by the DoD, the collaboration of Goodyear, BioMADE and Farmed Materials will accelerate the commercialization of TK, commencing in the spring of 2022 with the planting and harvesting of TK seeds in Ohio.
- If testing provides promising results, Goodyear sees potential for the application of TK rubber to be used in all tire applications.
- More than 90% of the world's natural rubber is made from latex derived from rubber trees, sourced from tropical locations outside the U.S.
- Price Action: GT shares are trading lower by 3.11% at $12.47 on the last check Thursday.
