Zotefoams powered 13% higher ahead of a presentation on ReZorce, its new material for beverage cartons
The keynote speaker at the event will be Paul Polman, former CEO of Unilever alongside partner Refresco, the world's largest independent beverage solutions provider in Western markets.
Zotefoams, which has been working with Refresco, said the event will highlight good progress towards commercial applications of ReZorce beverage cartons.
Functional cartons are now being produced at one of Refresco's facilities in Europe, said the statement and that represents several significant technical milestones associated with the transition from liquid packaging board to ReZorce.
Zotefoams and Refresco are now initiating quality and compliance testing procedures aiming for a trial market launch with a European retailer.
An investment partner is being sought for ReZorce to accelerate and de-risk any potential scale-up.
David Stirling, Group CEO at Zotefoams, comments, "The announcements we are making today are indicative of the gathering momentum on this project.
"Retailers and brand owners understand the need for a sustainable alternative to LPB cartons and ReZorce meets that need: it is fully recyclable via mainstream collections, contains recycled material in line with the thresholds set out in the EU Packaging and Packaging Waste Directive and has a lower carbon footprint."
Shares rose 55p to 487p.