Development of Next Generation Plant-Based Paints

Itaconix plc (AIM: ITX) (OTCQB: ITXXF), a leading innovator in high-performance plant-based specialty polymers used in consumer products, announces further progress in the development of a new class of paints enabled by Itaconix's line of BIO*Asterix® ingredients.

The Company has filed a patent application covering paint formulations incorporating BIO*Asterix® ingredients and has also filed a trademark application relating to the new class of paints under development.

As part of the next stage of development activities, Itaconix has signed an agreement with an established specialty paint company to support the completion and evaluation of initial paint products using BIO*Asterix® ingredients.

The programme forms part of the Company's broader strategy to expand the application of its plant-based polymer platform into new application categories, with a strong focus on product safety, performance, and sustainability.

John R. Shaw, CEO of Itaconix, commented:

"We believe our BIO*Asterix® ingredients can enable a new and differentiated class of paints with compelling safety and sustainability characteristics. Protecting our proprietary space with this class of paints and collaborating with an experienced industry partner are important next steps in developing and assessing our long-term potential in paint and coating applications. While still at an early stage, we are encouraged by the advances we are making and look forward to further evaluating the opportunity over time."