Launch of the Itaconix SPARX Program
Source: RNS
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.
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