Itaconix plc
("Itaconix", the "Company" or the "Group")
Commercial Product Launch of Plant-Based Products for Paints, Coatings and Adhesives
Itaconix plc (AIM: ITX) (OTCQB: ITXXF), a leading innovator in plant-based specialty polymers used to decarbonize everyday consumer products, today announces the commercial product launch of BIO*Asterix®, a new line of plant-based functional building blocks for polymeric binders used in paints, coatings, and adhesives.
The BIO*Asterix products are specialty derivatives of itaconic acid that can fully or partially replace fossil-based acrylate, methacrylate, or styrene monomers in a wide range of resins and composites. The initial BIO*Asterix offering consists of three products, including one new patented monomer, which are positioned as safer and more sustainable alternatives in the $2.6b market for butyl acrylates in Europe and North America. The Company plans to offer an extensive and comprehensive line of itaconate alternatives by adding additional proprietary and non-proprietary products to the BIO*Asterix catalog in the future.
The Company will market and sell these products through its first ecommerce website, www.bioasterix.com. Initial ecommerce customers are expected to come from North American academic and industry laboratories that are developing paths for safer and more sustainable polymers.
The Company developed specialty itaconate derivatives that represent the beginning of a long-term growth initiative and future revenue opportunity for Itaconix. Commercial efforts over the last few years focused on specific usage with a limited number of potential customers. This new commercial product launch and use of ecommerce are expected to generate broader opportunities within the large and diverse paints and coatings segment of the acrylic acid market.
Dr. Yvon Durant, CTO of Itaconix, commented:
“Our BIO*Asterix monomers have safety profiles, plant-based content, and multi-functional properties that can meet the growing needs within polymer research laboratories for new alternatives to acrylate and styrene chemistries. We are developing attractive new polymers using these monomers in our research efforts. I believe that other researchers will find similar advantages across a broader range of applications.”
John R. Shaw, CEO of Itaconix, commented:
“Increasing the use of itaconate derivatives represents an important new opportunity for improving the safety, performance, and sustainability of everyday products. The commercial product launch of our BIO*Asterix offerings and ecommerce site represent key first steps in Itaconix leading the long-term development and use of new generations of safer paints and coatings. We look forward to reporting on the progress and growth of BIO*Asterix over the next few years.”
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Enquiries:
Itaconix plc +1 603 775 4400
John R. Shaw / Laura Denner
Rosewood +44 (0) 207 653 8704
Financial PR
John West / Llew Angus
Canaccord Genuity +44 (0) 7523 8000
Nominated Adviser and Broker
Adam James / Harry Pardoe
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 products contribute to the global low carbon economy.