RCS - Itaconix PLC - Launch of the Itaconix SPARX Program

ItaconixAnnouncement

16/10/2024 07:00

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RNS Number : 3199I  Itaconix PLC  16 October 2024

For release on RNS Reach: 16(th) October 2024

Itaconix plc

("Itaconix", the "Company" or the "Group")

Launch of the Itaconix SPARX Program

Itaconix plc (AIM: ITX) (OTCQB: ITXXF), a leading innovator in plant-based
specialty polymers used to decarbonise everyday consumer products, today
announces the launch of its SPARX program - a new collaborative initiative to
increase the value and reduce the time-to-market for safer, better performing,
and more sustainable home and personal care products.

Itaconix developed the SPARX program in response to brands seeking new
innovations to meet consumer desires for affordable products that perform
better and are better for the world. As an extension of its existing
formulated solutions work, the Company sees opportunities in a series of home
and personal care product categories for new offerings that deliver excellent
performance while using safer ingredients, more sustainable materials, less
chemicals, and less plastic.

The SPARX program will integrate the efforts of Itaconix and other advanced
specialty ingredient companies with innovative end-product manufacturers and
purpose-driven brands to speed the introduction of new generations of consumer
products. The program has a goal for brands to introduce at least 10 new
products by the end of 2025. The Company expects to announce SPARX
collaborations with ingredient suppliers, contract manufacturers, and brands
in the coming months towards achieving this goal.

SPARX is being introduced by Itaconix at the annual SEPAWA® CONGRESS being
held in Berlin (16-18 October). SEPAWA® is one of the most influential annual
gatherings within the European and North American home detergent and cleaning
industry.

John R. Shaw, CEO of Itaconix, commented:

"We believe that high-performance consumer products can exist in harmony with
nature, safeguarding both human health and the environment. Our vision is to
build a high-margin, capital-efficient specialty ingredients business that
enables brands to create new generations of safer, better performing, and more
sustainable consumer products.

Our success with formulated solutions attracted desires from other high-value
ingredient suppliers, leading contract manufacturers, and purpose-driven
brands for more collaborative and comprehensive efforts on new consumer
products. SPARX is a natural extension of our mission - bringing together
brands, manufacturers, and our expertise to accelerate innovation and drive
progress towards a future where sustainable products are the norm."

- 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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