Last checked at 21 May 2019 07:00
21 May 2019
Itaconix plc ("Itaconix" or "the Company")
Itaconix receives first purchase order from Nouryon for personal care polymer
Itaconix has received its first purchase order from Nouryon to supply its polymer for Nouryon's new Amaze SP product under the previously announced exclusive global supply agreement for Nouryon to market Itaconix polymers in personal care applications.
Itaconix has marketed and sold its personal care polymer since 2017 under its own RevCare NE100S brand. The Company will now withdraw the brand from the market and transition its accounts and projects for RevCare NE100S to Nouryon and its new Amaze SP product.
RevCare NE100S has achieved use across a broad range of hair and skin care applications during its initial launch by Itaconix. Starting from a small base in 2017, demand in Europe, North America and Asia has progressed steadily through 2018 and year-to-date 2019, indicating accelerating uptake in customer formulations.
John R. Shaw, CEO of Itaconix, stated: "The upcoming transition from RevCare NE100S to Amaze SP is an important step for Itaconix and the broader use of our polymers in personal care. While this first order is small, it marks another milestone for our success at turning our unique chemistries into products for key consumer needs, establishing their value with initial customer use, and scaling globally with market leaders."
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For further information please contact:
Itaconix plc | +1 603 775-4400 |
John R. Shaw / Michael Norris | |
N+1 Singer | +44 (0) 207 496 3000 |
Richard Lindley / James Moat (Corporate Finance) Mia Gardner (Corporate Broking) |
About Itaconix
Itaconix develops and produces bio-based specialty polymers that improve the safety, performance or sustainability of consumer and industrial products, with technology and market leadership positions in non-phosphate detergents, odour control, and hair styling.
www.itaconix.com