Itaconix Funding and Business Update
By David Shaw
As a founding investor in Itaconix Corporation, and a director emeritus, I’m pleased to share that the company has conditionally raised approximately $2.2 million to fund continued expansion of its specialty chemical platform. The Shaw family participated in this financing.
Information about this can be found HERE
On May 5th the company announced that revenues for the first four months of 2020 were $0.6m, representing an increase of 42% over the same period in 2019. The strong growth is primarily from the continued commercial progress and success of the company’s detergent polymers including receipt of first purchase order for Itaconix® TSI™322 to support the launch of a new dishwashing detergent under a major brand in North America by New Wave. The new detergent product is expected to be in retail stores across the United States in the coming weeks.
Itaconix plc (LSE: ITX) is a leading innovator in bio-based functional ingredients for improving the safety and performance of homecare, personal care, and industrial products. Its proprietary polymer technology generates a growing range of new ingredients with unique functionality that meet consumer demands for value and sustainability.
Learn more on their website.