Itaconix PLC First Trial for Sustainable Superabsorbent
09 Februar 2022 - 8:00AM
RNS Non-Regulatory
TIDMITX
Itaconix PLC
09 February 2022
Itaconix plc
("Itaconix" or the "Company")
First Trial for Company's Sustainable Superabsorbent
Itaconix (AIM: ITX) (OTCQB: ITXXF), a leading innovator in
plant-based specialty polymers used as essential ingredients in
everyday consumer products, is pleased to announce that it has
supplied product for the first production trial using the Company's
plant-based superabsorbent, VELAFRESH(R) SAP80.
VELAFRESH(R) SAP80 is being trialed by a leading supplier to
companies that produce baby diapers, feminine hygiene products,
adult diapers, and industrial absorption products. This follows the
Company's production trials for VELAFRESH(R) SAP80 in 2021. If the
prospective customer's trials are favourable, potential Itaconix
revenues are expected to start in 2023.
Increasing consumer interest in more sustainable hygiene
products is generating new addressable markets for Itaconix's
plant-based polymers. The worldwide market for superabsorbent
polymers (SAPs) was estimated at $9.0 billion in 2020 and is
supplied almost entirely by fossil-based polymers due to the higher
cost or lower performance of current plant-based polymers. The
Company believes VELAFRESH(R) SAP80 offers a superior level of
performance, cost, and availability for brands and consumers that
are seeking more sustainable hygiene products.
John R. Shaw, CEO of Itaconix, said:
"The emergence and success of new brands responding to consumer
demands for better sustainability has significantly expanded the
revenue potential for our plant-based ingredients in hygiene
applications, as this trial demonstrates.
"Our technology for VELAFRESH(R) SAP80 was ahead of its time
when it was part of the original roots of the Itaconix business.
This trial is an important milestone and great reward for our
patience and persistence as customer needs evolve towards our
plant-based solutions. With this progress, we see additional
opportunities to improve our offerings for sustainable hygiene
products."
Enquiries:
Itaconix +1 (603) 775 4400
John R. Shaw/Laura Denner
Belvedere Communications +44 (0) 20 3687 2756
John West/Llew Angus
finnCap +44 (0) 20 7220 0500
Ed Frisby/Abigail Kelly/Milesh Hindocha
- Corporate Finance
Andrew Burdis/Sunila de Silva - ECM
About Itaconix
Itaconix uses its proprietary plant-based polymer technology
platform to produce and sell specialty ingredients that improve the
safety, performance, and sustainability of consumer products. The
Company's current ingredients are enabling and leading new
generations of products in detergents, hygiene, and hair care.
Itaconix's contributions to the global low carbon economy are
recognised by the London Stock Exchange's Green Economy Mark.
www.itaconix.com
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