Itaconix receives first polymer order from Nouryon
It’s being reported that Itaconix will withdraw its polymer RevCare NE100S from the market and transition to using the Nouryon Amaze SP product.
According to Nouryon, Amaze SP is a natural polymer that offers humidity-resistant style retention and is typically used in hairspray, mousse and gel.
Itaconix said on Tuesday that – under the previously-announced and exclusive global supply agreement for Nouryon to market Itaconix polymers in personal care applications signed in February of this year – it has received its first purchase order from Nouryon to supply the new Amaze SP product.
The AIM-traded firm said it had marketed and sold its personal care polymer since 2017 under its own ‘RevCare NE100S’ brand, and its shares jumped on Tuesday after the firm said it has received its first purchase order. RevCare NE100S had achieved use across a broad range of hair and skin care applications during its initial launch by Itaconix, the board said.
“The upcoming transition from RevCare NE100S to Amaze SP is an important step for Itaconix and the broader use of our polymers in personal care,” said Itaconix chief executive officer John R Shaw, “While this first order is small, it marks another milestone for our success at turning our unique chemistries into products for key consumer needs, establishing their value with initial customer use, and scaling globally with market leaders.”