(Sharecast News) - Shares in material solutions group Zotefoams jumped on Wednesday after the company reported progress towards the commercialisation of its ReZorce beverage cartons.
The company said it is looking for an investment partner to help accelerate and de-risk a potential scale-up of the product.
Zotefoams announced it is now producing functional cartons at one of the European facilities of its joint development partner and beverage solutions firm Refresco.
ReZorce is the first beverage carton designed for the circular economy, according to Zotefoams, made from 100% recycled content and 100% recyclable. The materials used are considered a single raw material, making it easier to recycle than standard cartons made of multiple materials laminated together.
The company said the start of production "represents a number of significant technical milestones associated with the transition from liquid packaging board (LPB) to ReZorce in the production process and most notably that a filling line designed for LPB can be readily modified to accommodate ReZorce."
Quality and compliance testing procedures required for commercial production are now being started, with a trial market launch with a European retailer on the cards, Zotefoams said.
The stock was up 10.5% at 477.23p by 1237 BST, having hit a 52-week high of 490p earlier in the session.
Zotefoams (ZTF)