logo-loader
viewItaconix PLC

Itaconix PLC - New Collaboration in Biodegradable Packaging

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™ 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™ 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™ 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™ 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 that 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

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
END
 
 
MSCDGGDXBBGDGGX

Quick facts: Itaconix PLC

Price: 1.35

Market: LSE
Market Cap: £3.79 m
Follow

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Itaconix CEO John Shaw welcomes 'tremendous response' to $2.2mln fundraise

Itaconix PLC (LON:ITX) CEO John Shaw speaks to Proactive London's Andrew Scott following confirmation they've raised £1.76mln ($2.2mln) through an oversubscribed placing and subscription from existing and new investors. Shaw says the cash is expected to provide them with sufficient funding...

2 weeks, 2 days ago