Evolva And Cargill In Deal To Co-develop Steviol Glycosides
Collaboration lays foundation for next evolution in stevia industry
Reinach, Switzerland 6 March 2013 -Evolva Holding SA (SIX: EVE) today
announced that it has entered into an agreement with Cargill to jointly
develop and commercialize fermentation-derived steviol glycosides. Cargill
will be responsible for commercialization and has agreed to make a CHF 5
million (approximately USD 5.3 million) equity investment in Evolva.
Additionally, Evolva stands to receive up to USD 7.5 million in milestone
payments and has the right to a 45% participation in the final business. If
Evolva decides not to exercise this option it will receive royalty payments
from global sales of the co-developed steviol glycoside products; these
royalties will scale from mid-single digit to low double-digit percentages as
a function of sales volume and other parameters.
Cargill brings to the collaboration its vast manufacturing and commercial
expertise in bulk sweeteners, food ingredients, and of course stevia
sweeteners. Cargill is a global market leader in the stevia-based sweetener
category with consumer products and as an ingredient, which can be found in a
variety of branded food products and beverages sold in the U.S., Europe,
Mexico, and South America.
Evolva is a pioneer and global leader in sustainable, fermentation-based
approaches to ingredients for health, wellness and nutrition, such as stevia,
vanilla, saffron and resveratrol, as well as high-value ingredients for the
OTC personal care and pharmaceuticals markets.
Stevia (stevia rebaudiana) is grown, harvested and used as a sweetener in many
countries around the globe. Its sweet leaves have been consumed for
generations. Today, extracts purified from these leaves are used to sweeten a
range of zero- and reduced-calorie food and beverage products. Stevia leaves
contain a number of individual molecules (known as steviol glycosides) that
give them their sweet taste. The only commercially available steviol
glycosides available today are derived from stevia plants grown and harvested
in an agriculture setting. Evolva believes it is the first company to
successfully adapt fermentation technology to produce a range of commercially
relevant steviol glycosides, using sustainable, low-cost, carbohydrate
feedstocks, which can be sourced virtually anywhere on the planet.
Fermentation-derived steviol glycosides will benefit food and beverage
manufacturers in a number of ways:
*First, it will allow better tasting steviol-glycoside-based products (the
best-tasting stevia leaf molecules are not currently commercially
available due to their very low concentrations in the plant).
*Second, it will allow steviol glycosides to become a more economic product
for companies and consumers alike.
*Finally, it will allow steviol glycosides to be produced using a
simplified and scalable supply chain.
Evolva and Cargill believe that fermentation-derived steviol glycosides have
the potential to unlock more value from this remarkable sweetener.
Cargill VP and Global Business Director for Health Ingredients David Henstrom
remarked, "We are very excited about and fully committed to supporting
fermentation-based steviol glycoside technology to provide our customers with
a wider array of great-tasting options. What's more, Evolva has proven
capabilities to enable this breakthrough in a sustainable way."
Evolva CEO Neil Goldsmith commented, "Cargill is the perfect partner for
Evolva to advance the development, scale-up, and commercialization of
fermentation-derived steviol glycosides, not least because they are a global
industry leader in the stevia business and a powerhouse in food ingredient
production. They are fundamentally changing the sweetener category around the
world with their stevia-based sweetener products. We view this collaboration
as further evidence that industry has recognized that Evolva's technology
platform represents a uniquely powerful foundation for producing sustainable,
next-generation, high-value health, nutrition, and wellness products."
- ends -
Press/analyst conference at 10.00am CET on 6 March 2013
Neil Goldsmith, CEO and Jakob Dynnes Hansen, CFO, will present the stevia
partnership in a meeting for media and analysts in SIX Convention Point in
Zürich. The meeting will be accessible via dial-in.
The dial-in numbers:
+41 (0)58 310 5000 Switzerland / Continental Europe
+44 (0)203 059 5862 UK
+ 1 (1) 866 291 4166 USA - Toll-Free
Evolva's mission is to discover and provide innovative, sustainable
ingredients for health, nutrition and wellness. Evolva uses biosynthetic and
evolutionary technologies to create and optimize small molecule compounds and
their production routes. Evolva is active in consumer healthcare and nutrition
as well as in pharma. In both areas Evolva has partnered projects as well as
proprietary programmes. For more information see www.evolva.com.
Cargill is an international producer and marketer of food, agricultural,
financial and industrial products and services. Founded in 1865, the privately
held company employs 142,000 people in 65 countries. Cargill helps customers
succeed through collaboration and innovation, and is committed to sharing its
global knowledge and experience to help meet economic, environmental and
social challenges wherever it does business. For more information, visit
Contact Details - Evolva
Neil Goldsmith, CEO Jakob Dynnes Hansen, CFO Paul Verbraeken, IR
firstname.lastname@example.org email@example.com firstname.lastname@example.org
+ 41 61 485 2005 + 41 61 485 2034 + 41 61 485 2035
Contact Details - Cargill
David Henstrom, Vice President and Global Business Director, Health
This press release does neither constitute an offer to buy or to subscribe for
securities of Evolva Holding SA nor a prospectus within the meaning of
applicable Swiss law. A decision to invest in securities of Evolva Holding SA
should be based exclusively on the issue and listing prospectus published by
Evolva Holding SA for such purpose.
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.
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