Zotefoams
plc
("Zotefoams", "Company")
Progress update on
ReZorce® and beverage carton Media
Launch
15 May 2024 - At a media launch to
be held in Amsterdam today, Zotefoams, a world leader in cellular
materials technology, will provide an update on the progress of
ReZorce®, the Company's mono-material barrier packaging
substrate, in beverage carton applications.
The keynote speaker at the event
will be Paul Polman, former CEO of Unilever, a globally recognised
voice on sustainability in business.
The Company will be joined by
Refresco, the world's largest independent beverage solutions
provider for leading retailers and A-brands with production in
Europe, North America and Australia. Further to the announcement of
18 July 2023, the Company has been working with Refresco, as its
joint development partner, on the commercialisation of ReZorce and
a planned in-market trial.
At the event, Zotefoams will report
good progress towards commercialisation of ReZorce beverage
cartons. Functional cartons are now being produced at one of
Refresco's facilities in Europe. This represents a number of
significant technical milestones associated with the transition
from liquid packaging board ("LPB") to ReZorce in the production
process and most notably that a filling line designed for LPB can
be readily modified to accommodate ReZorce.
Zotefoams and Refresco are now
initiating quality and compliance testing procedures required for
commercial production of beverage carton applications aiming for a
trial market launch with a European retailer.
The Company is continuing to
evaluate a range of options to best capitalise on the significant
potential of this proprietary technology. As previously guided, the
Board believes that an investment partner for ReZorce may help
accelerate and de-risk any potential scale-up and, in light of the
progress made to date, will explore this over the coming months. At
the end of this process the Board will update shareholders on its
evaluation of the optimal path to realise value.
In conjunction with its Annual
General Meeting, Zotefoams will announce a trading update on 22
May, followed that morning by an investor presentation on the
Investor Meet Company platform
(https://www.investormeetcompany.com/zotefoams-plc/register-investor).
Investors who already follow Zotefoams on the Investor Meet Company
platform will be invited automatically.
David Stirling, Group CEO at Zotefoams,
comments, "The announcements we are
making today are indicative of the gathering momentum on this
project. We are proud that Refresco, a world leader in its field,
has recognised the potential of ReZorce and has chosen to partner
with us to accelerate its commercial launch.
"We are delighted to have reached
this milestone, which clearly demonstrates that ReZorce is
progressing well towards becoming a fully commercialised product
that is scalable with existing infrastructure.
"Retailers and brand owners
understand the need for a sustainable alternative to LPB cartons
and ReZorce meets that need: it is fully recyclable via mainstream
collections, contains recycled material in line with the thresholds
set out in the EU Packaging and Packaging Waste Directive and has a
lower carbon footprint."
- ENDS -
Enquiries:
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Zotefoams
plc
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+44 (0) 208
664 1600
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David Stirling, Group CEO
Gary McGrath, Group CFO
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|
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IFC Advisory
(Financial PR & IR)
|
+44 (0) 203
934 6630
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Graham Herring
Tim Metcalfe
Zach Cohen
|
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About Zotefoams plc
Zotefoams plc (LSE - ZTF) is a
world leader in cellular materials technology delivering optimal
material solutions for the benefit of society. Utilising a variety
of unique manufacturing processes, including environmentally
friendly nitrogen expansion for lightweight
AZOTE® polyolefin and ZOTEK® high-performance
foams, Zotefoams sells to diverse markets
worldwide. Zotefoams uses its own cellular materials to
manufacture T-FIT® advanced insulation for
demanding industrial markets. Zotefoams also owns and
licenses patented microcellular foam technology to reduce plastic
use in extrusion applications and for
ReZorce® mono-material recyclable barrier packaging.
Zotefoams is headquartered
in Croydon, UK, with additional manufacturing sites
in Kentucky, USA and Brzeg, Poland (foam
manufacture), Oklahoma, USA (foam products manufacture
and conversion), Massachusetts, USA and
Stilling, Denmark (microcellular foam technology)
and Jiangsu Province, China (T-FIT).
www.zotefoams.com
AZOTE®, ZOTEK®,
ReZorce® and T-FIT® are registered trademarks
of Zotefoams plc.