5 September 2017
Itaconix plc ("Itaconix" or the "Company")
Itaconix and AkzoNobel to develop bio-based chelates for the detergents industry
Itaconix is pleased to announce that it has signed an application agreement with AkzoNobel's Specialty Chemicals business to evaluate and develop innovative bio-based chelates for use in the consumer and industrial detergents and cleaners markets.
This is the second partnership stemming from a joint development agreement signed by the companies earlier this year to develop and commercialize sustainable products made from renewable feedstocks using Itaconix technology. Products from this collaboration will be marketed under AkzoNobel's Dissolvine® brand.
"Bio-based chelates show promise for use in laundry detergents, bathroom cleaners and other consumer and commercial cleaning products," said Peter Kuijpers, General Manager Chelates and Micronutrients at AkzoNobel. "They are replacements for phosphates, which are being phased out due to environmental concerns."
John R. Shaw, President of Itaconix US and Global Homecare added: "Our success to date in North America and Europe demonstrates the breakthrough potential for our novel bio-based polymer technology in everyday homecare products. We are excited to work with AkzoNobel, a world leader in chelates, to maximize the commercial potential of these products."
"This is the latest example in a series of agreements to expand the use of Itaconix polymers," said Annika Karlsson, RD&I Director in Specialty Chemicals at AkzoNobel, responsible amongst others for chelates and micronutrients. "Being able to use renewable polymers like these presents a significant sustainability advantage for our customers and will help us to grow our business."
Ends
For further information please contact:
Itaconix |
+44 (0) 1244 283 500 |
Kevin Matthews / Rob Cridland |
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N+1 Singer |
+44 (0) 207 496 3000 |
Richard Lindley / Liz Yong (Corporate Finance) Nick Owen (Corporate Broking) |
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Hudson Sandler
Charlie Jack / Emily Dillon +44 (0) 207 796 4133
About Itaconix
Itaconix is developing proprietary active ingredients that meet the performance and price needs of its customers and offers them improved safety and sustainability, thereby helping to deliver on the global sustainability agenda, with particular emphasis on the Personal Care and Homecare markets.
www.itaconix.com
