London-listed Itaconix (AIM:ITX) has delivered its first order of a sustainable odour control polymer to chemicals firm, Croda International.
The polymers specialist group said it had succesfully delivered ZINADOR™ 35L, a more concentrated version of Itaconix’s proprietary polymeric complex, via an extended global supply agreement.
In October 2019, Itaconix announced the expansion of an existing agreement with Croda where the chemicals firm had offered $60,000 as a partial contribution to Itaconix towards the development of the new polymeric zinc complex.
Shares in Itaconix were trading 9.84% higher at 1.675p on Tuesday morning.
In this previous statement, the company detailed that ZINADOR™ 35L would therefore be added to the existing product oder of ZINADOR™ 22L.
"The launch of ZINADOR™ 35L through our collaboration with Croda is a significant commercial milestone for us,” said John R. Shaw, Chief Executive of Itaconix.
He added, “The close work and collaboration between Croda and Itaconix show the potential and value of using smart partnering to rapidly bring continuous innovation to customers around the world.”
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