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Itaconix expands supply agreement with Croda
24th Oct 2019 16:23
(Sharecast News) - Specialty polymers company Itaconix announced an expansion to its existing global supply agreement with Croda on Thursday, to include an additional polymeric zinc complex to the product line already supplied to Croda.
The AIM-traded firm said that as part of the expanded agreement, it would receive a milestone payment of $60,000 from Croda as a partial contribution towards the completed development of the new polymeric zinc complex.
It explained that the current agreement with Croda began in 2017 for 'ZINADOR 22L' in home and industrial applications.
The new 'ZINADOR 35L' was described by Itaconix as a more concentrated version of the polymeric zinc complex, which delivered "significant" performance and cost advantages in detergent and industrial applications.
"Our proprietary zinc polyitaconates are gaining recognition for their unique benefits in odor neutralisation," said Itaconix chief executive officer John Shaw.
"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."
The AIM-traded firm said that as part of the expanded agreement, it would receive a milestone payment of $60,000 from Croda as a partial contribution towards the completed development of the new polymeric zinc complex.
It explained that the current agreement with Croda began in 2017 for 'ZINADOR 22L' in home and industrial applications.
The new 'ZINADOR 35L' was described by Itaconix as a more concentrated version of the polymeric zinc complex, which delivered "significant" performance and cost advantages in detergent and industrial applications.
"Our proprietary zinc polyitaconates are gaining recognition for their unique benefits in odor neutralisation," said Itaconix chief executive officer John Shaw.
"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."