19 January 2016 – Evolva (SIX: EVE) provides a clarification to Bank Vontobel’s analyst note of yesterday.
As previously reported, Evolva is in active discussions with Cargill regarding the optimal way to commercialise EverSweet™ and share the returns between Evolva and Cargill. These negotiations are being held in a positive and constructive manner.
The scenario highlighted by Bank Vontobel is just one of the scenarios considered in these discussions. No decision has been taken by the parties in favour of this scenario versus any other.
If pursued, then the “Bank Vontobel” scenario would see production for launch use one or more contract manufacturing organisations, with production at Cargill’s Blair facility conducted at a later stage. Such a scenario could create potential ROI advantages for both parties, although even under this scenario Evolva envisages that it will need to invest in the Blair facility conversion in the near to medium term, as previously communicated to the market. But, again, no decision has been made as to which scenario to pursue.
EverSweet™ remains on track for launch in 2016. No decision has been taken about the initial production volume or the production ramp rate thereafter.
Evolva is a pioneer and global leader in sustainable, fermentation-based approaches to ingredients for health, wellness and nutrition. Evolva’s products include stevia, resveratrol, vanillin, nootkatone and saffron. As well as developing its own proprietary ingredients, Evolva also deploys its technology for partners, providing them with a competitive edge and sharing in the returns they make. For more information see www.evolva.com. Questions about our fermentation approach? Have a look at our video.
EverSweet™ is made with the best-tasting sweetness components found in the stevia leaf, Reb M and Reb D, which deliver a great taste with better sweetness intensity, faster sweetness onset and improved sweetness quality – without the bitterness or off-note aftertaste common with other stevia sweeteners. Because the stevia plant produces only trace amounts of these molecules, using Reb M and Reb D to produce a sweetener for mass-market products hasn’t been commercially or environmentally viable until now with yeast fermentation.
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.