ITX Itaconix Plc

TIDMITX

RNS Number : 9179E

Itaconix PLC

04 March 2020

4 March 2020

Itaconix plc ("Itaconix" or the "Company")

New Collaboration in Biodegradable Packaging

Itaconix is pleased to announce that it has signed a joint development agreement with a leading innovator in biodegradable packaging (the "Partner").

Under the agreement, the companies will collaborate to evaluate the use of Itaconix's BIO*Asterix(TM) line of functional additives as key ingredients in the Partner's range of biodegradable packaging solutions.

The agreement establishes parameters for the desired properties for BIO*Asterix(TM) additives and an operating framework for the parties to collaborate during the evaluation process. If the development efforts are successful, Itaconix will produce and supply one or more BIO*Asterix(TM) additives for the Partner to use in its product range.

John R. Shaw, CEO of Itaconix, stated: "This collaboration is an important step for us to assess the commercial potential of our initial BIO*Asterix(TM) additives. Although it is too early to consider the potential impact on revenues, I am optimistic that our bio-based ingredients will find valuable commercial use in biodegradable packaging in the coming years."

Ends

For further information please contact:

 
 Itaconix                                        +1 (603) 775 4400 
 John R. Shaw / Laura Denner 
 N+1 Singer                                      +44 (0) 207 496 3000 
 Peter Steel / James Moat (Corporate Finance) 
  Tom Salvesen (Corporate Broking) 
 

About Itaconix

Itaconix develops and produces bio-based specialty ingredients t hat improve the safety, performance and sustainability of consumer and industrial products, with technology and market leadership positions in non-phosphate detergents, odor control, and hair styling.

www.itaconix.com

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