Revolymer pens odour removal, supply and marketing deal with Croder

23rd Jan 2017 13:10

(ShareCast News) - Welsh chemical company Revolymer has penned a supply and marketing agreement for its odour removal additive with Yorkshire-based rival Croder.Revolymer's US subsidiary Itaconix, which it bought for about $7m in June 2016, agreed to a global supply and joint marketing deal with Croda for the company's polymer-based odour removal additive, Zinador 22L.The AIM-listed company expects the supply arrangement will start to generate new revenues in 2017.Zinador is a bio-based product that is soluble in water and does not leave any residual materials, which the companies claim will meet "unmet customer needs in the growing consumer and industrial markets for odour control".Itaconix will produce Zinador for Croda, which will market and sell it in household, municipal, animal and industrial applications, subject to certain terms and conditions. Itaconix will also provide its technical and marketing support to jointly expand applications and geographic opportunities for Zinador.Dr. Kevin Matthews, chief executive of Revolymer, said: "Croda has a strong track record of delivering innovation in the target markets for Zinador. We are pleased that they are advancing Zinador after the success of our initial joint customer development efforts ... and are excited to close the first major collaboration for our novel itaconic acid polymer technology platform so quickly after acquiring Itaconix last year."Graeme Tweddle, global managing director, home care and industrial chemicals businesses at Croda, added: "We see Zinador as an exciting technology that will generate new opportunities for our customers in a broad range of odour neutralisation applications."Shares in Revolymer were up 9.06% to 34.90p at 1252 GMT.