Itaconix Plc Core Investment Case 01052024
Itaconix Plc’s (AIM: ITX.L, OTC: ITXXF) vision - safer chemicals in consumer goods. ITX makes IP protected innovative bio-polymers that replace acrylic acid and styrene based polymers (US$ 20bn market) in consumer products. IA polymers have commercial applications in consumer and specialty chemicals markets including detergents markets as water softeners and dispersants; odour capture markets and hair products markets for hold, texture and flexibility. ITX’s innovations are protected by 16 patent families. ITX revenues YE22A rose to US$ 5.6m up 115% vs. 2.6m y/y. ITX’s recent YE23A preliminary revenues US$ 7.86m, despite a recent YE24 downgrade, ITX’ IP product strategy has attractive long run growth and margin characteristics.
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