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Itaconix surges as it unveils new detergent polymer

The new polymer is designed to achieve “excellent performance” while replacing ingredients to deliver cost savings and more compact and sustainable products

Itaconix PLC - Itaconix unveils new detergent polymer

Itaconix PLC (LON:ITX) (OTCMKTS:ITXXF) has unveiled a new addition to its range of high-performance detergent polymers.

The new product, Itaconix TSI 322, is the result of what the firm said was ongoing engagement with current and potential customers for “dishwashing detergents to meet changing consumer buying behaviour”.

READ: Itaconix and Nouryon terminate chelates agreement

The polymer is designed to deliver “excellent performance” while replacing multiple ingredients to deliver cost savings and more compact and sustainable products, the company said.

TSI 322 will be introduced at this week’s American Cleaning Institute Convention in Orlando, Florida, and will be added to the firm’s existing range of detergent polymers, Itaconix DSP 2K and Itaconix CHT 122.

"The success and versatility of our current detergent polymers enabled us to rapidly respond to emerging customer needs and new opportunities. Itaconix TSI 322 offers major advances in cost, performance, and sustainability that will progress and broaden our discussions with potential customers in both Europe and North America", said Itaconix chief executive John R Shaw.

The shares surged 14.5% to 1.5p in early trading on Tuesday.

--Adds share price--

Quick facts: Itaconix PLC

Price: 1.55 GBX

LSE:ITX
Market: LSE
Market Cap: £4.17 m
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