TIDMITX

RNS Number : 9610X

Itaconix PLC

03 May 2019

03 May 2019

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

First European Order for New Detergent Polymer

Itaconix is pleased to announce that, following successful trials, it has received its first order from a European customer for its latest bio-based detergent polymer. The customer is a major producer of non-phosphate automatic dishwashing detergent products. Itaconix polymers allow formulators to meet increasing consumer demands for environmentally-friendly products without compromising performance.

The new detergent polymer, which was introduced in 2018, has gained broad use in a new generation of North American automatic dishwashing detergents. However, this expansion of use into the European market represents a significant milestone for the Company due to the higher performance demands for automatic dishwashing detergents in Europe.

Dr. Jim Gordon, Director of Cleaning & Hygiene at Itaconix, said: "Europe presents special challenges for detergent formulators. Hard water conditions and high-temperature dishwashing machine cycles create difficult barriers for new detergent ingredients to gain acceptance. Building on our success in North America, we have now demonstrated that our new polymer delivers unique value and performance that meets the demands of European customers."

John R. Shaw, CEO of Itaconix, stated: "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. We expect European detergent use will support our forecast revenues for 2020 and beyond."

Ends

For further information please contact:

 
 Itaconix                                   +1 (603) 775 4400 
 John R. Shaw / Michael Norris 
 N+1 Singer                                 +44 (0) 207 496 3000 
 Richard Lindley / James Moat (Corporate 
  Finance) 
  Mia Gardner (Corporate Broking)

About Itaconix

Itaconix develops and produces bio-based specialty polymers 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 rns@lseg.com or visit www.rns.com.

END

UPDEAESAELSNEAF

(END) Dow Jones Newswires

May 03, 2019 02:00 ET (06:00 GMT)

Itaconix (LSE:ITX)
Historical Stock Chart
From Apr 2024 to May 2024 Click Here for more Itaconix Charts.
Itaconix (LSE:ITX)
Historical Stock Chart
From May 2023 to May 2024 Click Here for more Itaconix Charts.