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Last close As at 26/01/2023
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Itaconix uses its patented platform to make ingredients from itaconic acid for consumer products, across the household cleaning, personal care, hair and beauty categories.
Management has calculated its technology is currently pointed $2.3bn of addressable markets and can be further positioned to take advantage of an additional £16.7bn – via food and agriculture, paints, coatings, composites and water solutions. A natural metabolite, the use of itaconic acid can help lower the carbon footprint of products, chiming in with global imperatives as well as the new consumer and retail behaviours emerging across the developed world.
Major brands including Clorox and Colgate-Palmolive have formulated their products using Itaconix’s ingredients, which are available at Walmart, Costco, Target, Safeway and many other supermarket chains. Having developed the core of its platform, the business is now focused on commercial scaling, seeking revenue growth in the US, EU and UK.
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