Reinach, Switzerland, 26 September 2012 – Evolva Holding SA (SIX: EVE) today announced that Roquette Frères SA (Roquette) has confirmed that Evolva has achieved the first milestone in their collaboration that was announced in January 2012.
The ultimate objective of the collaboration is the development of novel and optimised biosynthetic production routes for an ingredient with important applications in food products. Several targets have been defined to measure the progress of the project, including yield and production hosts.
As the first major target in this project has been achieved, Roquette will make a milestone payment to Evolva. The milestone payment does not change Evolva’s cash flow guidance for 2012.
Neil Goldsmith, CEO of Evolva, said, “This is already the second milestone we have achieved for a food ingredient project within the last few months. It is clear that Evolva’s technology is delivering on its promise to provide innovative and sustainable production methods for nutritional ingredients. I am looking forward to our next successes in this space.”
“We have been working with Evolva’s team of scientists for nine months now and we are impressed with their progress to date. It confirms our belief that Evolva’s technology will provide new impulses in our search for innovative products and improved production processes. Ultimately these efforts are aimed at strengthening our leading position in providing high quality ingredients in a sustainable manner from renewable resources” said Thierry Marcel, Corporate Research & Development Director of Roquette.
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