Revolymer Product Launch

RNS Number : 7776T

IP Group PLC

04 October 2010

 



 

04 October 2010

IP Group plc - Portfolio company Revolymer launches revolutionary removable chewing gum in the US

IP Group plc (LSE: IPO) ("IP Group" or "the Company"), the developer of intellectual property based businesses, is pleased to note that portfolio company Revolymer Limited ("Revolymer"), a spin-out company from the University of Bristol, has today announced the launch of its revolutionary removable chewing gum, Rev7™, in the US.

A revolutionary removable* chewing gum launches in world's largest market

 Revolymer® reveals Rev7™ gum to attendees at National Association Convenience Store Show

Atlanta, October 4, 2010

Today Revolymer® Ltd launches its new brand, Rev7™, a high quality confectionery chewing gum with an excellent taste and long lasting flavour, to US consumers and attendees at the National Association of Convenience Store Show (NACS).  For the first time, the product is also removable* and degradable*, making it the world's first commercially available environmentally friendly gum*.

The gum comes initially in both peppermint and spearmint and Revolymer® plans to launch additional flavours including a fruity flavour next year. 

Chris Tamillo, recently appointed as Revolymer®'s Vice President of Sales and Marketing and based in the US is responsible for taking the product to market.  Chris joins Revolymer® from Frito-Lay® where he was a National Sales Manager.  Before that, Chris was National Sales Manager for Spitz® Sunflower seeds, where he established the brand and grew sales rapidly.

Chris Tamillo said; "The sheer scale of the opportunity to revolutionize the multi-billion dollar chewing gum market is one I am very excited by.  Revolymer® is offering a premium product that will change the chewing gum industry significantly.  There is both an appetite for this new brand in the US and a willingness to provide consumers with a product that is better for the environment but does not sacrifice on quality."

"Revolymer®'s technology contributes towards solving a very costly and environmentally challenging problem.  We're seeing enormous enthusiasm from everyone we speak to in the US about the potential of our chewing gum," said Roger Pettman PhD., Chairman and CEO of Revolymer®. "Chris' experience of the FMCG industry in the US is a significant asset to us and he will play a key role in delivering on our growth plans."

Commercialization of Revolymer®'s proprietary gum technology follows the successful completion of the "GRAS" regulatory approval process earlier this year.  It is expected to be available in retail stores early in 2011 with Revolymer® working with national and regional distributors to achieve broad distribution as quickly as possible. 

The United States is the world's largest chewing gum market.  It is estimated that over 300,000 tons of chewing gum will be sold this year in the US alone and after chewing this results in approximately 120,000 tons of residual chewing gum cuds which remains in the environment every year.

The Company has studied its gum's removability and degradability characteristics in a variety of climates, carrying out extensive tests. Revolymer®'s gum can be removed readily from clothes using soap and water, and in the environment tests have shown that more than 50% of its chewing gum is removed by conventional street cleaning, and any gum washed into the drains will degrade into minerals, biodegradable products and inert materials.

The launch of Rev7™ follows the application of Revolymer®'s chewing gum technology to functional chewing gums with the first goal to develop a nicotine gum with an improved taste to help people quit smoking.  Revolymer® has now completed registration batches and has filed for its first regulatory approval in Canada, with plans to expand into other markets over 2011. 

Attendees at NACS can visit Revolymer® at booth 6710 to try the new Rev7™ gum.

- ends -

* In testing Revolymer® found that its confectionery gum removes readily from a range of surfaces (including paved sidewalks, carpets, textiles, transport fabrics and clothing materials), and disintegrates into a fine powder within 6 months using mild agitation in water. See our website (www.revolymer.com) for more details.

About Revolymer®

Revolymer® is a rapidly growing technology development company which has developed a unique portfolio of products and formulations for the FMCG industry. Using commercially available and inexpensive polymers, Revolymer® applies its innovative proprietary approach to formulate novel polymers to revolutionise consumer products. Current applications for the Company's technology are in the Confectionery Chewing Gum, Medicated Chewing Gum, Household Products, Personal Care and Coatings & Adhesives sectors of the FMCG industry. For further information please visit our website www.revolymer.com.

 

Contact…

Revolymer® Ltd Dock Road Mostyn Flintshire CH8 9HE, UK	·    Customer enquiries - [e-mail] ·    Investor enquiries - [e-mail] ·    Media and related enquiries - Burson-Marsteller for Revolymer®: [e-mail] or [e-mail] ·    Tel: [phone] or [phone]
[phone]

For more information, please contact:

IP Group	www.ipgroupplc.com
Alan Aubrey, Chief Executive Officer	[phone]
Liz Vaughan-Adams, Communications	[e-mail] [phone] /[phone]
Financial Dynamics
Ben Atwell, John Dineen	[phone]

About IP Group

IP Group is an intellectual property (IP) commercialisation company that specialises in commercialising university technology. Founded in 2001, IP Group listed on AIM in October 2003 and moved to the Official List in June 2006. It has made two acquisitions to date - Techtran, a company set up to commercialise university intellectual property under a long term contract with the University of Leeds, in 2005 and Top Technology Ventures, an investment adviser to early stage technology venture capital funds, in 2004.

IP Group has formed long-term partnerships with ten universities - the University of Oxford, King's College London, CNAP/University of York, the University of Leeds, the University of Bristol, the University of Surrey, the University of Southampton, Queen Mary (University of London), the University of Bath and the University of Glasgow.

The Company's portfolio is diverse with exposure to five main sectors - Energy & Renewables, Medical Equipment & Supplies, Pharma & Biotech, IT & Communications and Chemicals & Materials. To date, thirteen portfolio companies have listed on the AIM market of the London Stock Exchange, one on PLUS Markets and there have been four trade sales.

For more information, please visit our website at www.ipgroupplc.com.

 

END

 

 

NRAGRBDGDBGBGGS