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Itaconix hails first European deal for detergent polymer

The deal is a major milestone for the business, which has seen significant traction for its environmentally-friendly product in North America

washing machine detergent drawer
As phosphates are phased out due to environmental concerns, bio-based polymers developed by companies such as Itaconix are filling the gap

Itaconix Plc (LON:ITX) has received its first European order for its bio-based detergent polymer.

No financial details were given, while the end customer was simply described as a “major producer of non-phosphate automatic dishwashing detergent products”.

The deal is a significant milestone for the business, which has seen traction for its environmentally-friendly product in North America.

"As phosphates are phased out due to environmental concerns, our novel bio-based polymers are stepping in to enable a new generation of safer detergent products that set new standards for performance, value, and increased sustainability,” said Itaconix chief executive John Shaw.

“We expect European detergent use will support our forecast revenues for 2020 and beyond."

The company designs and manufactures high-performance, cost effective and sustainable ingredients that are key components of products in the personal care, homecare and industrial sectors. It does so by developing and producing bio-based polymers from itaconic acid – hence the name.

Quick facts: Itaconix PLC

Price: 0.6 GBX

LSE:ITX
Market: LSE
Market Cap: £1.61 m
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