Itaconix (formerly caller Revolymer plc) is pleased to announce that its wholly owned US subsidiary, Itaconix Corporation (“Itaconix”), has signed a joint development agreement with Akzo Nobel Chemicals International B.V. (“AkzoNobel”) to advance commercial collaborations in certain applications for the Itaconix itaconic acid polymer technology platform.
The agreement establishes a broad operating framework for the parties to jointly identify, develop and commercialise new polymers using Itaconix’s patented technology.
“This innovative technology enables the production of polymers from renewable ingredients, which fits closely with our Planet Possible sustainability agenda of doing more with less,” explained Peter Nieuwenhuizen, Research Development & Innovation Director for AkzoNobel’s Specialty Chemicals business. “These bio-based polymers offer unique properties in applications essential to our everyday lives, ranging from water quality to cleaning and hygiene.”
Dr. Kevin Matthews, CEO of Itaconix, commented: “We share AkzoNobel’s commitment to improving the cost and performance of our customers’ formulations with increasingly more sustainable products. We are excited to begin working together to identify and develop attractive commercial opportunities for our novel polymers.”
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.
Ends
For further information please contact:
| Revolymer plc | +44 (0) 1244 283 500 |
| Kevin Matthews / Rob Cridland | |
| N+1 Singer | +44 (0) 207 496 3000 |
| Richard Lindley (Corporate Finance) Nick Owen (Corporate Broking) |
About Itaconix/Revolymer
Itaconix is an AIM quoted company whose objective is to be a leader in functional polymers that improve the safety, performance or sustainability of its customers’ products in the delivery and controlled release of actives, surface modification and water quality improvement for the Homecare & Industrial and Personal Care & Consumer Healthcare markets.
