IP Group news 2012
IP Group plc – Portfolio company Revolymer’s removable chewing gum to launch in Ireland
06 Mar 2012
IP Group plc (LSE: IPO) ("IP Group" or "the Company" or "the Group"), the developer of intellectual property based businesses, is pleased to note that Revolymer Ltd ("Revolymer") has received full approval from the European Food Safety Authority for its revolutionary Rev7TM gum to be sold within the EU and has won its first European distribution with Topaz, Ireland's largest fuel and service station group.
Revolymer, a spin-out company from the University of Bristol in which IP Group has an 11.1% undiluted beneficial interest, announced today that its Rev7TM gum will be available this summer in over 114 forecourt stores across the Republic of Ireland. With this major distribution partnership secured, Revolymer is now actively seeking further retail partners and hopes to have its gum on-shelf in the UK by autumn of 2012.
The full text of the Revolymer announcement is below.
For more information, please contact:
|IP Group plc
|Alan Aubrey, Chief Executive Officer
||+44 (0) 20 7444 0050
|Liz Vaughan-Adams, Communications
||+44 (0) 20 7444 0062 / +44 (0) 7979 853 802
|Ben Atwell, John Dineen
||+44 (0) 20 7831 3113
"Rev7TM removable chewing gum premiers in Europe with Irish forecourt launch"
Following the approval of the European Food Safety Authority, Revolymer® announces Rev7TM gum distribution deal with Topaz fuel stations
Revolymer® Ltd the revolutionary British polymer company is delighted that the European Food Safety Authority (EFSA) has fully approved its revolutionary Rev7TM gum for sale within the EU and has already secured its very first European distribution with Topaz, Ireland's largest fuel and service station group.
The deal means that great tasting and environmentally friendly Rev7TMgum will be available this summer in over 114 forecourt stores across the Republic of Ireland. With this major distribution partnership now secure, Revolymer is now actively seeking further retail partners and hopes to have its gum on-shelf in the UK by autumn of 2012.
As the world's first commercially available environmentally friendly gum, Rev7TM is a real game changer in the competitive European gum market. Using patented polymer technology the gum can be removed readily from clothes using soap and water, and the streets.
In the Republic of Ireland chewing gum is the single largest component in the food litter category and the second largest component of overall litter after cigarettes. The numbers speak for themselves; in one month Dublin city council removed an estimated 180,000 pieces of embedded gum from Grafton Street, the city's premier shopping thoroughfare, while across Ireland it is believed that up to 500 tonnes ends up dumped on the streets. Revolymer®'s technology can help solve a very costly and challenging problem and the consumer can help the environment without sacrificing quality.
In addition, to these environmental and convenience benefits, Rev7TM offers consumers a gum with an excellent taste and long lasting flavour. Currently available in peppermint and spearmint flavours and the company plans on expanding the portfolio in the coming year.
Roger Pettman, CEO of Revolymer® said: "With Rev7TM already in over 4,000 stores in the US we are really excited that the range is approved for sale in Europe and we have signed a deal with Topaz to launch the product in Ireland. With over 114 forecourts stocking our gum, this is a significant deal that will put our product in front of thousands of consumers and we hope that soon Rev7TM will be on sale across Europe."
Paul Candon, Marketing and Corporate Services Director of Topaz added: "We are pleased and excited to have added such an innovative product as Rev7TM gum to our offering. We believe that the gum's longer lasting chew, coupled with the host of environmental benefits, means it will rapidly become a favoured choice with our customers."
To help grow their business in the UK, Revolymer® has also brought on board the services of leading FMCG distributor and brokerage partner, Worldwide Brands Ltd. Martin Wathes, MD of Worldwide Brands ltd commented on their appointment that: "Worldwide Brands is extremely excited to be working with Rev7TM gum and see a huge potential for the brand.
As someone who regularly chews gum, I was really impressed with the chew and flavour of Rev7TM, particularly on long journeys. Furthermore, with its strong environmental credentials and the fact that chewing gum litter is costing the UK government alone over £150 million per year, I can see huge potential for it to become a major player in the European gum market."
For more information on Revolymer® and Rev7TM please visit:
Notes to Editors:
- In testing Revolymer® found that its confectionery gum removes readily from a range of surfaces (including paved sidewalks, carpets, textiles, transport fabrics and clothing materials), and disintegrates into a fine powder within 6 months using mild agitation in water. See www.revolymer.com for more details.
- Revolymer® is a rapidly growing technology development company which has developed a unique portfolio of products and formulations for the FMCG industry. Using commercially available and inexpensive polymers, Revolymer® applies its innovative proprietary approach to formulate novel polymers to revolutionise consumer products. Current applications for the Company's technology are in the Confectionery Chewing Gum, Medicated Chewing Gum, Household Products, Personal Care and Coatings & Adhesives sectors of the FMCG industry
For more information please contact Callum Laidlaw at Direct Impact on +44 (0)20 7300 6136 or email@example.com"
Notes for editors
About IP Group
IP Group is a leading UK intellectual property ("IP") commercialisation company, developing technology innovations primarily from its research intensive partner universities. The Group offers more than traditional venture capital, providing its companies with access to business building expertise, networks, recruitment and business support.
The Company's portfolio comprises holdings in over 60 companies including Oxford Nanopore Technologies, the DNA sequencing development company, Revolymer, best known for its removable chewing gum and Xeros, which has received many accolades for its revolutionary clothes washing techniques with a much reduced requirement for water.
The portfolio includes early stage to mature businesses and has exposure to five main sectors - Energy & Renewables, Medical Equipment & Supplies, Pharma & Biotech, IT & Communications and Chemicals & Materials. To date, thirteen of the portfolio companies IP Group has backed have listed on the AIM market of the London Stock Exchange and one on PLUS Markets.
Founded in 2001, IP Group listed on AIM in October 2003 and moved to the Official List in June 2006. The Group now has long-term partnerships with twelve core universities including those under its commercialisation agreement with Fusion IP plc.
For more information, please visit our website at www.ipgroupplc.com.