25 October 2019
Itaconix plc ("Itaconix" or the "Company")
Expansion of Croda Supply and Joint Marketing Agreement
Itaconix, a leading innovator in sustainable specialty polymers, announces an expansion to its existing global supply agreement with Croda Inc. (“Croda”) to include an additional polymeric zinc complex to the Itaconix product line already supplied to Croda. As part of the expanded agreement, Itaconix will receive a milestone payment of $60,000 from Croda as a partial contribution toward the completed development of the new polymeric zinc complex.
The current agreement with Croda began in 2017 for ZINADOR™ 22L in home and industrial applications. The new ZINADOR™ 35L is a more concentrated version of the polymeric zinc complex, which delivers significant performance and cost advantages in detergent and industrial applications.
John R. Shaw, CEO of Itaconix, stated: “Our proprietary zinc polyitaconates are gaining recognition for their unique benefits in odor neutralization. The close work and collaboration between Croda and Itaconix show the potential and value of using smart partnering to rapidly bring continuous innovation to customers around the world.”
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For further information please contact:
Itaconix +1 (603) 775 4400
John R. Shaw / Laura Denner
N+1 Singer +44 (0) 207 496 3000
Richard Lindley / James Moat (Corporate Finance)
Mia Gardner (Corporate Broking)
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