|[March 06, 2013]
Evolva And Cargill In Deal To Co-develop Steviol Glycosides
REINACH, Switzerland --(Business Wire)--
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
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
+ 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 www.cargill.com.
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
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