Apparently not. This process and the resulting product seems to rely on cross-linking cellulose. And aligning the fibers. Lignin is removed from the wood.
Also, the chemicals in question seem to be these:
The chemical solution can include chemicals used in pulping or pulp bleaching and can include at least one of NaOH, NaOH/Na2S, NaHSO3+SO2+H2O, NaHSO3, NaHSO3+Na2SO3, NaOH+Na2SO3, Na2SO3, NaOH+AQ, NaOH/Na2S+AQ, NaHSO3+SO2+H2O+AQ, NaOH+Na2SO3+AQ, NaHSO3+AQ, NaHSO3+Na2SO3+AQ, Na2SO3+AQ, NaOH+Na2S+Na2Sn, Na2SO3+NaOH+CH3OH+AQ, CH3OH, C2H5OH, C2H5OH+NaOH, C4H9OH, HCOOH, CH3COOH, CH3OH+HCOOH, C4H8O2, NH3.H2O, p-TsOH, H2O2, NaClO, NaClO2+acetic acid, ClO2, and Cl2, where n in an integer and AQ is Anthraquinone.
Lotta pretty caustic stuff, but I really don't know how environmentally harmful that class of chemicals is.
Also, looks like the ultimate tensile strength of this stuff is 400-500MPa, while steels ranges from 400-1800MPa. But, being non-ductile, it won't have a yield strength because it has little or no elastic deformation.