Revolymer PLC Exclusive Supply & Marketing Agreement with Croda (7843U)
23 January 2017 - 6:00PM
UK Regulatory
TIDMREVO
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(R) ZINADOR(TM) 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
For further information please contact:
+44 (0) 1244 283
Revolymer plc 500
Kevin Matthews / Rob Cridland
+44 (0) 207 496
N+1 Singer 3000
Richard Lindley (Corporate Finance)
Nick Owen (Corporate Broking)
About Revolymer
Revolymer 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.
www.revolymer.com
About Croda
Established in 1925, Croda is the name behind high performance
ingredients and technologies in some of the world's biggest and
most successful brands: creating, making and selling speciality
chemicals that are relied on by industries and consumers
everywhere.
Croda has a network of over 4,200 passionate and committed
employees, working together as one global team across manufacturing
sites and offices in 36 countries. Croda is a FTSE 100 company with
a flexible structure that allows it to focus on developing and
delivering innovative, sustainable ingredients that its customers
can build on in: Personal Care, Health Care, Crop Care, Polymer
Additives, Lubricants, Coatings & Polymers, Geo Tech, Home Care
and Industrial Chemicals.
www.croda.com
This information is provided by RNS
The company news service from the London Stock Exchange
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