Itaconix PLC Expansion of Croda Supply & Joint Marketing Agrmt (9314Q)
24 Ottobre 2019 - 08:00AM
UK Regulatory
TIDMITX
RNS Number : 9314Q
Itaconix PLC
24 October 2019
24 October 2019
Itaconix plc ("Itaconix" or the "Company")
Expansion of Croda Supply and Joint Marketing Agreement
Itaconix, a leading innovator in sustainable specialty polymers,
announces an expansion to its existing global supply agreement with
Croda Inc. ("Croda") to include an additional polymeric zinc
complex to the Itaconix product line already supplied to Croda. As
part of the expanded agreement, Itaconix will receive a milestone
payment of $60,000 from Croda as a partial contribution toward the
completed development of the new polymeric zinc complex.
The current agreement with Croda began in 2017 for ZINADOR(TM)
22L in home and industrial applications. The new ZINADOR(TM) 35L is
a more concentrated version of the polymeric zinc complex, which
delivers significant performance and cost advantages in detergent
and industrial applications.
John R. Shaw, CEO of Itaconix, stated: "Our proprietary zinc
polyitaconates are gaining recognition for their unique benefits in
odor neutralization. The close work and collaboration between Croda
and Itaconix show the potential and value of using smart partnering
to rapidly bring continuous innovation to customers around the
world."
Ends
For further information please contact:
Itaconix +1 (603) 775 4400
John R. Shaw / Laura Denner
N+1 Singer +44 (0) 207 496 3000
Richard Lindley / James Moat (Corporate
Finance)
Mia Gardner (Corporate Broking)
About Itaconix
Itaconix plc is a leading innovator in bio-based functional
ingredients for improving the safety and performance of homecare,
personal care, and industrial products. Its proprietary polymer
technology generates a growing range of new ingredients with unique
functionality that meet consumer demands for value and
sustainability.
www.itaconix.com
About Croda
Established in 1925, Croda is the name behind high performance
ingredients and technologies in some of the world's biggest and
most successful brands: creating, making and selling speciality
chemicals that are relied on by industries and consumers
everywhere.
They have a network of over 4,500 passionate and committed
employees, working together as one global team across manufacturing
sites and offices in 38 countries. Croda is a FTSE100 company with
a flexible structure that allows them to focus on developing and
delivering innovative, sustainable ingredients that their customers
can build on in: Personal Care, Health Care, Crop Care, Seed
Enhancement, Smart Materials, Energy Technologies, Home Care and
water and Industrial Specialities.
www.croda.com
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END
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