RCS - Itaconix PLC - Commercial Plant-Based Product Launch

ItaconixAnnouncement

01/07/2025 07:00

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RNS Number : 0811P  Itaconix PLC  01 July 2025

For release on RNS Reach: July 1,
2025

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 (http://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."

- Ends -

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.

www.itaconix.com (http://www.itaconix.com/)

 

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