RCS - Itaconix PLC - First Trial for Sustainable Superabsorbent

ItaconixAnnouncement

09/02/2022 07:00

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RNS Number : 0797B  Itaconix PLC  09 February 2022

Itaconix plc

("Itaconix" or the "Company")

 

First Trial for Company's Sustainable Superabsorbent

 

Itaconix (AIM: ITX) (OTCQB: ITXXF), a leading innovator in plant-based
specialty polymers used as essential ingredients in everyday consumer
products, is pleased to announce that it has supplied product for the first
production trial using the Company's plant-based superabsorbent, VELAFRESH®
SAP80.

VELAFRESH® SAP80 is being trialed by a leading supplier to companies that
produce baby diapers, feminine hygiene products, adult diapers, and industrial
absorption products. This follows the Company's production trials for
VELAFRESH® SAP80 in 2021. If the prospective customer's trials are
favourable, potential Itaconix revenues are expected to start in 2023.

Increasing consumer interest in more sustainable hygiene products is
generating new addressable markets for Itaconix's plant-based polymers. The
worldwide market for superabsorbent polymers (SAPs) was estimated at $9.0
billion in 2020 and is supplied almost entirely by fossil-based polymers due
to the higher cost or lower performance of current plant-based polymers. The
Company believes VELAFRESH® SAP80 offers a superior level of performance,
cost, and availability for brands and consumers that are seeking more
sustainable hygiene products.

John R. Shaw, CEO of Itaconix, said:

"The emergence and success of new brands responding to consumer demands for
better sustainability has significantly expanded the revenue potential for our
plant-based ingredients in hygiene applications, as this trial demonstrates.

"Our technology for VELAFRESH® SAP80 was ahead of its time when it was part
of the original roots of the Itaconix business. This trial is an important
milestone and great reward for our patience and persistence as customer needs
evolve towards our plant-based solutions. With this progress, we see
additional opportunities to improve our offerings for sustainable hygiene
products."

 

Enquiries:

 

 Itaconix                                                     +1 (603) 775 4400
 John R. Shaw/Laura Denner

 Belvedere Communications                                     +44 (0) 20 3687 2756
 John West/Llew Angus

 finnCap                                                      +44 (0) 20 7220 0500
 Ed Frisby/Abigail Kelly/Milesh Hindocha - Corporate Finance

 Andrew Burdis/Sunila de Silva - ECM

 

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 contributions to the global low carbon economy are
recognised by the London Stock Exchange's Green Economy Mark.

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

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