9 March 2017 – Evolva (SIX: EVE) today announces reaching the second technical milestone under the multi-year R&D alliance with Takasago. This achievement brings the project closer to the launch of the target ingredients and prompts a total milestone payment of USD 1 million to Evolva as well as the continuation of the collaboration into the next phases.
The aim of the collaboration is to co-develop novel fermentation routes to produce several undisclosed ingredients with broad applications in the fragrance and flavour industry. Evolva and Takasago are applying Evolva’s fermentation technology platform to develop and optimise yeast strains for the sustainable and cost-effective production of the ingredients.
Based on the timing of the progress and the contractual agreement, the revenue was recognised in Evolva’s 2016 accounts.
– ends –
Evolva solves the supply chain issues of nature through a 21st century mix of biotechnology and brewing. We develop, make and sell natural ingredients that provide significant benefits to people in daily life, but whose supply chain issues have limited their use until now. Our flagship ingredients are stevia, nootkatone and resveratrol, but we work on many more, both on our own behalf and with others. To make our world sustainable requires nature and technology to work together as one, and our aim is to play a (small) part in achieving this transformation. We operate internationally. For more information see www.evolva.com. Questions about our approach? Have a look at our video.
This press release contains specific forward-looking statements, e.g. statements including terms like believe, assume, expect or similar expressions. Such forward-looking statements are subject to known and unknown risks, uncertainties and other factors which may result in a substantial divergence between the actual results, financial situation, development or performance of the company and those explicitly or implicitly presumed in these statements. Against the background of these uncertainties readers should not place undue reliance on forward-looking statements. The company assumes no responsibility to update forward-looking statements or to adapt them to future events or developments.