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Itaconix produces key ingredients for new generations of safer consumer products with superior performance and sustainability.
Using our proprietary plant-based technology, Itaconix develops uniquely functional ingredients that are safer for people and the planet.
We are building a large, profitable specialty ingredient company with safer products for the low carbon economy. Our growth rate has just begun to tap the potential of the addressable market.
Itaconix has entered a new era of development toward our long-term goal of becoming a large, highly profitable, capital-efficient specialty-ingredient company.
Itaconix plc
("Itaconix", the "Company" or the "Group")
Progress in Crop Production Field Trials for Plant-Based Polymers
Itaconix plc (AIM: ITX) (OTCQB: ITXXF), a leading innovator in high-performance plant-based specialty polymers used in consumer products, announces progress in its ongoing assessment of crop production applications for its polymer technologies.
The Company has evaluated the potential use of its existing polymers in crop production periodically over the past 15 years. The commercial goal is for the polymers to improve the uptake and use of nutrients in plants during their growth cycle. Prior work with potential collaboration partners and small-scale internal studies have indicated some potential for achieving this goal.
Itaconix is evaluating a promising polymer this growing season with field trials in the United States under the tradename BioVail™ GRZ™ 200L. The Company is working directly with a small number of farms to assess the growth benefits from the application of BioVail GRZ 200L on corn crops. Full quantification of plant growth results is expected after harvest.
If the results show potential benefits, then the Company will progressively increase the size and scope of trials over the next few years to confirm and substantiate claims to support full commercial efforts.
John R. Shaw, CEO of Itaconix, commented:
“Our polymer technologies have long shown technical potential beyond our core consumer product markets, including applications in crop production. Early work suggested there may be opportunities to improve plant growth through nutrient delivery and uptake within plants. These initial field trials are an important next step in evaluating performance under real agricultural conditions. While this work remains at an early stage and will require assessment over multiple growing seasons, we are encouraged to expand our understanding of the broader capabilities of our plant-based polymers.”
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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 / Lily Pearce
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.
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