Itaconix files for plant-based paint patent and trademarks

Itaconix PLC (AIM:ITX, OTCQB:ITXXF, FRA:18G0) told investors it has filed patent and trademark applications around a new class of plant-based paints using its BIO*Asterix ingredients.

The AIM-listed speciality polymers group said the patent application covers paint formulations incorporating BIO*Asterix, while the trademark filing relates to the new paint category it is developing.

Itaconix has also signed an agreement with an established speciality paint company to support the completion and evaluation of initial paint products using the ingredients.

Chief executive John R. Shaw said the group believes BIO*Asterix can enable “a new and differentiated class of paints” with safety and sustainability characteristics.

"We believe our BIO*Asterix® ingredients can enable a new and differentiated class of paints with compelling safety and sustainability characteristics," said Itaconix chief executive John Shaw.

"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."

The programme forms part of Itaconix’s wider strategy to expand its plant-based polymer platform into new application areas. The company currently produces speciality ingredients used in detergents, hygiene and hair care products.