First Commercial Sales of Itaconix® CHTT

RNS Number : 1385J

Revolymer PLC

07 September 2016

 

7 September 2016

Revolymer plc ("Revolymer")

First Commercial Sales of Itaconix® CHT™

Revolymer (AIM: REVO) is pleased to announce that the first commercial sale of Itaconix® CHT™ ("CHT") has been made by the recently acquired business of Itaconix Corporation ("Itaconix"), for use in a private label automatic dish wash ("ADW") detergent marketed by a large US retailer.

Itaconix has already established use for its itaconic acid polymers in leading, private label European and North American detergent brands for water conditioning to replace phosphates. With new regulations scheduled to take effect in 2017 limiting phosphate use in European ADW detergents, the new CHT polymer represents a significant technological advance, achieving low-cost performance without phosphates in terms of reduced spotting and filming.

Revolymer sees the commercial potential for CHT as significant in the medium term, making first commercial sale a meaningful milestone. Dr Kevin Matthews, Revolymer CEO, commented: "We are pleased that the Itaconix business has started to deliver on the potential we saw that underpinned the recent acquisition. Whilst limited in quantum, the first commercial sale is an important step forward and we look forward to further developments in due course".

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For further information please contact:

Revolymer plc	[phone]
Kevin Matthews / Rob Cridland
Panmure Gordon (UK) Limited	[phone]
Adam James / Fabien Holler (Corporate Finance) Charles Leigh-Pemberton (Corporate Broking)

The information communicated in this announcement is inside information for the purposes of Article 7 of Market Abuse Regulation 596/2014 ("MAR").

About Revolymer

Revolymer is an AIM quoted company (registered number 08024489) whose vision is to be a specialty chemicals business focused on controlled release, responsive systems and delivery systems based on its expertise in the design and synthesis of polymers that improve the functional performance of its customers' products, thereby generating high margin business.

www.revolymer.com

 

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