For release on Reach: 14 November 2024
Itaconix plc
("Itaconix", the "Company" or the "Group")
SPARX collaboration agreement with Bonals Technologies
Itaconix plc (AIM: ITX) (OTCQB: ITXXF), a leading innovator in plant-based specialty polymers used to decarbonise everyday consumer products, today announces a collaboration agreement with Bonals Technologies ("Bonals") under the Company's SPARX program to speed the introduction of safer, better performing, and more sustainable unit dose detergent tablets in the United States and Canada.
Bonals is based in Saint-Just-Saint-Rambert, France and produces tableting equipment that is used by leading detergent tablet brands and contract manufacturers in Europe. Under the agreement, Itaconix will work with Bonals and leading North America detergent suppliers on new generations of detergents that seek to leverage the synergistic benefits of Itaconix tablet formulations produced on Bonals equipment.
Announced in October, Itaconix's SPARX program integrates collaboration efforts between advanced specialty ingredients companies, contract manufacturers, and purpose-driven brands to introduce new innovations in certain consumer product categories. The program has a goal of having brands release at least ten new products generated from these collaborative efforts by the end of 2025.
Philippe Taste, President of Bonals Technologies, commented:
"We see increasing opportunities outside of Europe for the high-performing tablets produced with our equipment. Based on work with our customers in Europe, we recognised that Itaconix is at the forefront of formulating new generations of unit dose detergents that fit closely with the unique advantages of our tableting capabilities. We are excited to collaborate with Itaconix to pursue new opportunities together in North America.
Dr Jim Gordon, Global Director, Cleaning & Hygiene at Itaconix, commented:
"We are demonstrating in Europe that formulations using our Itaconix ingredients are contributing to the competitive success of major European contract detergent tableters. Interest in tablets is increasing in North America based on the advantages they have for efficient unit dosing, without the use of plastic wrapping. By working with Bonals and current North American contract manufacturers in our SPARX program, we aim to enable North American production of detergent tablets that have levels of in-wash performance found in Europe."
- 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.
About Bonals Technologies
Bonals Technologies is a tableting technology provider serving customers worldwide. With 1000+ machines currently producing, the company developed strong partnerships with leading detergent tablet brands and contract manufacturers in Europe and Asia thanks to innovative and ecological solutions dedicated to homecare, laundry care and chemicals.
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