SAN ANTONIO, TX. – February 28, 2023 – Recently Frost & Sullivan researched the bio-based polymer industry, and based on its findings, recognizes Itaconix Plc with the 2022 North American Enabling Technology Leadership Award. The company is a provider of sustainable specialty chemical ingredients for cleaning, beauty, and hygiene applications. Backed by world-class subject matter experts and driven by its vision of decarbonizing everyday consumer products, the company developed a pioneering proprietary process for itaconic acid polymer production. This technical breakthrough enables Itaconix to manufacture bio-based ingredients with unique functionality from itaconic acid that perform better than fossil-based acrylic acid polymers in many applications.
Itaconix offers businesses a commercially viable pathway to reduce their formulations’ carbon footprint while also meeting consumers’ rising demand for better performance and lower costs. The company technology has unmatched manufacturing capabilities combined with a capacity to identify impactful applications for its bio-based polymers. Its low-cost solution for non-phosphate automatic dishwashing detergents, for example, delivers improved shine and reduced glass and metal corrosion..
Amit Rawat, Best Practices Senior Research Analyst, Frost & Sullivan, observed, “Itaconix’s fundamental innovation allowed it to assemble a specialized proprietary production line requiring low capital equipment expenditure, which it leverages to deliver optimal costs and go-to-market times that competitors cannot replicate.”
Itaconix technology’s enhanced multi-functionality enables new bio-based polymer that are key ingredients in a new generation of sustainable consumer products. This functionality breakthrough sets a new standard that helps steer the industry toward reducing greenhouse gas emissions and chemical waste with each product’s iterative use. It combines its technological edge, industry know-how, and effective market penetration strategies, capitalizing on itaconic acid’s broad application diversity to commercialize its ingredients in various product classes within the cleaning, hygiene, and beauty segments.
“Itaconix supports its innovative edge with a structured stage gate process, continuously identifying business opportunities in high-value applications where its chemistries address unmet market needs. It enables significant gains for customers while securing a competitive advantage, gradually leading to increased adoption of ingredients within the targeted space,” added Juan Ouvina Lanz, Best Practices Research Analyst, Frost & Sullivan. With its strong overall performance, Itaconix Plc. earns Frost & Sullivan’s 2022 North American Enabling Technology Leadership Award in the bio-based polymer industry.
Each year, Frost & Sullivan presents this award to a company that has developed a pioneering technology that not only enhances current products, but also enables the development of new products and applications. The award recognizes the high market acceptance potential of the recipient’s technology.
Frost & Sullivan Best Practices awards recognize companies in various regional and global markets for demonstrating outstanding achievement and superior performance in leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analyses, and extensive secondary research to identify best practices in the industry.
| Itaconix plc | +1 603 775 4400 |
| John R. Shaw / Laura Denner | |
| Belvedere Communications | +44 (0) 20 3008 6864 |
| John West / Llew Angus |
AboutItaconix
Itaconix uses its proprietary plant-based polymer technology platform to produce and sell specialty ingredients that improve the safety, performance, and sustainability of consumer products. The Company’s current ingredients are enabling and leading new generations of products in detergents, hygiene, and hair care. Itaconix’s contributions to the global low carbon economy are recognised by the London Stock Exchange’s Green Economy Mark.
