Chris Tamillo, Revolymer’s Vice President of Sales and Marketing, said, “Revolymer is offering a premium product that will change the chewing gum industry significantly. There is both an appetite for this new brand in the US and a willingness to provide consumers with a product that is better for the environment but does not sacrifice on quality.”
“Revolymer’s technology contributes towards solving a very costly and environmentally challenging problem. We’re seeing enormous enthusiasm from everyone we speak to in the US about the potential of our chewing gum,” said Roger Pettman, Chairman and CEO of Revolymer.
The US is the world’s largest chewing gum market. Over 300,000 tons of chewing gum will be sold this year in the US alone, resulting in approximately 120,000 tons of residual chewing gum “cuds” which remain in the environment, disfiguring pavements.
Rovolymer says its gum can be removed readily from clothes using soap and water. Tests have shown that more than 50 per cent of its chewing gum is removed by conventional street cleaning, and any gum washed into the drains will degrade into minerals, biodegradable products and inert materials.
Revolymer was founded by Roger Pettman with Terence Cosgrove and Lieven De Smedt based on the technology developed by Cosgrove at Bristol University. The company won a New Enterprise Competition in 2005, and secured initial seed funding of £750,000 from the quoted technology transfer company, IP Group plc and the public SULIS Seedcorn fund. The company also received a grant from the South West Regional Development Authority.
In 2006 Revolymer moved its R&D to Wales, aided by a grant from the Welsh Assembly. In 2007, the company raised £2 million from IP Group plc and Swarraton Partners and progressed to make the first prototype removable gum products. On the back of this in 2008, Revolymer completed a £10 million fund raising with new investors including Naxos Capital Management, Tudor and Sloane Robinson plus others, and follow on investment from existing shareholders, Swarraton Partners and IP Group.
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