Business
Exclusive Supply & Marketing Agreement with Croda
Exclusive Supply & Marketing Agreement with Croda.
About this update from Itaconix Plc
RNS Number : 7843U Revolymer PLC 23 January 2017 23 January 2017 Revolymer plc ("Revolymer" or "the Company") Exclusive global supply and joint marketing agreement with Croda Revolymer is pleased to announce that its wholly owned US subsidiary, Itaconix Corporation ("Itaconix"), has signed an exclusive global supply and joint marketing agreement with Croda Inc. ("Croda") in respect of its polymer-based odour removal additive Itaconix® ZINADOR™ 22L ("ZINADOR"). Using its patented itaconic acid polymer technology, Itaconix is delivering a major cost-effective breakthrough to a global odour neutralisation industry that is seeking new high-performance solutions. As a 100% bio-based product that is readily soluble in water and does not leave any residual materials, ZINADOR meets key unmet customer needs in the growing consumer and industrial markets for odour control. Under the terms of the agreement, the parties will work together to grow and supply worldwide demand for ZINADOR. Itaconix will produce ZINADOR for Croda and Croda will market and sell ZINADOR in household, municipal, animal and industrial applications, subject to certain terms and conditions. Itaconix will continue providing its technical and marketing expertise to jointly expand applications and geographic opportunities for ZINADOR with Croda. Dr. Kevin Matthews, CEO of Revolymer, commented: "Croda has a strong track record of delivering innovation in the target markets for ZINADOR. We are pleased that they are advancing ZINADOR after the success of our initial joint customer development efforts. We expect the supply arrangement will start to generate new revenues in 2017, and are excited to close the first major collaboration for our novel itaconic acid polymer technology platform so quickly after acquiring Itaconix last year." Graeme Tweddle, Global Managing Director, Home Care & Industrial Chemicals Businesses at Croda, said: "We see ZINADOR as an exciting technology that will generate new opportunities for our customers in a broad range of odour neutralisation applications. After collaborating with the team at Itaconix around its unique polymers for some time we are very pleased to establish this new agreement for working together." This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014. Ends Fo...