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LONDON - Specialty chemicals company Croda (LON:CRDA) Inc. has renewed and expanded its global supply agreement with Itaconix plc (AIM:ITX) (OTCQB:ITXXF) for sustainable odour control ingredients, according to a press release issued Wednesday.
The renewed agreement extends the companies’ collaboration until at least 2030 and adds ZINADOR 22D, a new dry powder format, to the two existing ZINADOR products that Itaconix produces for Croda to market and sell globally in home care applications.
The partnership between the two companies began in 2017 and was previously renewed in 2022. The new dry form is expected to offer additional market potential for the ZINADOR odour neutralizing ingredients, particularly within laundry applications.
Neslihan Utkan, Managing Director North America, Consumer Care at Croda, said the company is expanding its global customer base for ZINADOR products as part of its position in sensory technologies and solutions.
"We see attractive opportunities for further success with a broader product offering as more brands and consumers seek safer and more sustainable performance ingredients for effective odour control," Utkan stated.
Itaconix, which specializes in plant-based specialty polymers used in consumer products, indicated that the agreement also updates terms and product specifications to address ongoing market developments.
John R. Shaw, CEO of Itaconix, noted that the collaboration continues to bring the company’s odour neutralization technology to more customers worldwide, with the new powder format offering opportunities for usage in powder detergents.
The financial terms of the agreement were not disclosed in the press release.
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