LONDON (ShareCast) - (Sharecast News) - Sustainable specialty polymers provider Itaconix has signed a licence agreement with New Wave Global Services of Ontario, Canada for a new proprietary non-phosphate automatic dishwasher detergent formula based on its 'Itaconix CHT' polymer, it announced on Wednesday.
The AIM-traded firm said New Wave would use the formula to market and produce a new triple-chamber automatic dishwasher detergent sachet for North American retailers in the private label market.

It said its "advanced detergent laboratory" developed new product formulations for potential customers based on the properties and value of its polymers.

Under the arrangement with New Wave, Itaconix developed and licensed a proprietary formula for New Wave's exclusive use.

Itaconix would receive revenues from the formula through the sale of its polymer to produce the new detergent.

"We chose Itaconix to develop our new automatic dishwasher detergent based on the combination of outstanding performance and competitive price that Itaconix's polymers give us in the $600m-per-year North American private-label automatic dishwasher detergent market," said New Wave chief executive officer Sunil Bahadoorsingh.

"Their detergent team optimized a formula specific for our proprietary triple-chamber design to deliver us a breakthrough automatic dishwasher detergent."

Dr Jim Gordon, director of cleaning and hygiene at Itaconix, added that the company worked closely with customers to achieve new levels of cleaning performance using its bio-based Itaconix CHT polymer.

"Customers can get the added benefit of more sustainable products based on higher use of renewable ingredients and less plastic packaging from more compact formulas."

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