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05 Dec 2018 | 08:03

Itaconix signs licence pact with New Wave for new automatic dishwasher detergent

Specialty polymers provider Itaconix said Wednesday it had signed a licence agreement to allow Canada-based New Wave to use the company's proprietary polymer formula to produce a new automatic dishwasher detergent.

New Wave would use the formula to market and produce 'a new triple-chamber ADW detergent sachet for North American retailers in the private label market,' Itaconix said.

Under the arrangement with New Wave, Itaconix developed and licensed a proprietary formula for New Wave's exclusive use. Itaconix would receive revenues from this formula through the sale of its polymer to produce the new detergent. 'We work closely with customers to achieve new levels of cleaning performance using our bio-based Itaconix CHT polymer. Customers can get the added benefit of more sustainable products based on higher use of renewable ingredients and less plastic packaging from more compact formulas,'' said Jim Gordon, Director of Cleaning & Hygiene at Itaconix.

At 8:03am: (LON:ITX) Itaconix Plc share price was +0.95p at 6.05p

Story provided by StockMarketWire.com
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