For
release on RNS Reach: 16th October
2024
Itaconix
plc
("Itaconix", the "Company" or the "Group")
Launch of the Itaconix SPARX
Program
Itaconix plc (AIM: ITX) (OTCQB:
ITXXF), a leading innovator in plant-based specialty polymers used
to decarbonise everyday consumer products, today announces the launch of its SPARX program - a new
collaborative initiative to increase the value and reduce the
time-to-market for safer, better performing, and more sustainable
home and personal care products.
Itaconix developed the SPARX program
in response to brands seeking new innovations to meet consumer
desires for affordable products that perform better and are better
for the world. As an extension of its existing formulated solutions
work, the Company sees opportunities in a series of home and
personal care product categories for new offerings that deliver
excellent performance while using safer ingredients, more
sustainable materials, less chemicals, and less plastic.
The SPARX program will integrate the
efforts of Itaconix and other advanced specialty ingredient
companies with innovative end-product manufacturers and
purpose-driven brands to speed the introduction of new generations
of consumer products. The program has a goal for brands to
introduce at least 10 new products by the end of 2025. The Company
expects to announce SPARX collaborations with ingredient suppliers,
contract manufacturers, and brands in the coming months towards
achieving this goal.
SPARX is being introduced by Itaconix
at the annual SEPAWA® CONGRESS being held
in Berlin (16-18 October). SEPAWA® is one of the most influential
annual gatherings within the European and North American home
detergent and cleaning industry.
John
R. Shaw, CEO of Itaconix, commented:
"We
believe that high-performance consumer products can exist in
harmony with nature, safeguarding both human health and the
environment. Our vision is to build a high-margin,
capital-efficient specialty ingredients business that enables
brands to create new generations of safer, better performing, and
more sustainable consumer products.
Our
success with formulated solutions attracted desires from other
high-value ingredient suppliers, leading contract manufacturers,
and purpose-driven brands for more collaborative and comprehensive
efforts on new consumer products. SPARX is a natural extension of
our mission - bringing together brands, manufacturers, and our
expertise to accelerate innovation and drive progress towards a
future where sustainable products are the norm."
- Ends -
Enquiries:
Itaconix plc
+1 603 775 4400
John R. Shaw / Laura
Denner
Rosewood
+44 (0) 207 653
8704
Financial PR
John West / Llew
Angus
Canaccord
Genuity
+44 (0) 7523
8000
Nominated Adviser and
Broker
Adam James / Harry
Pardoe
About Itaconix
Itaconix uses its proprietary
plant-based polymer technology platform to produce and sell
specialty ingredients that improve the safety, performance, and
sustainability of consumer products. The Company's current
ingredients are enabling and leading new generations of products in
detergents, hygiene, and hair care. Itaconix's products contribute
to the global low carbon economy.
www.itaconix.com
