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Itaconix PLC - New BIO*AsterixT Product Line

RNS Number : 4573C
Itaconix PLC
10 February 2020
 

10 February 2020                                                                                                                  

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

New BIO*Asterix Product Line

Itaconix, a leading innovator in sustainable specialty polymers, is pleased to announce its BIO*Asterix line of functional additives based on a new range of bio-based chemistries derived from itaconic acid.  The Company developed the new BIO*Asterix additives over the past three years for a wide range of potential uses, ranging from biodegradable plastics to decorative paints. The Company plans to launch its new product line in stages over the next two years.

The Company's initial focus will be on targeting the biodegradable plastics market where the new BIO*Asterix additives have had positive results in early field trials with potential customers. The BIO*Asterix additives can add valuable properties or overcome performance deficiencies that currently limit the use of biodegradable plastics.

Dr. Yvon Durant, CTO of Itaconix, stated: "The new BIO*Asterix product line leverages our success at meeting customer needs with our understanding of itaconic acid chemistries.  I believe industry and academic researchers will find value both in the unique functionality of the chemistries and in our expertise in realizing the unique value of these products."

John R. Shaw, CEO of Itaconix, added: "BIO*Asterix represents a broad new frontier for Itaconix and the value of itaconic acid chemistries. We are confident from the early success of customer trials that our new BIO*Asterix products will become key additives in numerous applications and generate new revenues in the years to come. We look forward to reporting progress as our efforts advance."

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 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


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Price: 1.3251

Market: LSE
Market Cap: £3.57 m
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