Evolva Holding SA / Key word(s): Agreement PRESS RELEASE | AD HOC ANNOUNCEMENT PURSUANT TO ART. 53 LR Evolva signs multi-year agreement with leading CMO partner to enable supply of Vanillin to global F&F customer of around CHF 35 million until 2026 Reinach, 5 May 2023 - Evolva (SIX: EVE), a pioneer in the field of natural molecules and industrial biotech, has reached a major milestone to boost its commercial performance by signing a multi-year agreement with a leading CMO partner as basis to secure the Vanillin business with a global F&F customer of around CHF 35 million until 2026. Thanks to its proprietary precision-fermentation platform and the newly signed CMO agreement, Evolva is now able to supply Vanillin to a global customer in the Flavors & Fragrances industry (F&F) within a framework of defined volumes and very competitive pricing over a multi-year period. The move is a further testimony to Evolva's core capabilties of having successfully developed and upscaled high-grade Vanillin from lab to industrial scale production and now towards full commercialization. Based on the newly signed agreement with the selected CMO partner, Evolva expects to generate revenues of around CHF 35 million over the next three and a half years from supplying a global customer with Vanillin for use as natural ingredient to the flavors industry. As such, the agreement further substantiates Evolva's mid-term plan. In 2023, the corresponding revenues are expected to be in the mid-single digit range. For production reasons, these revenues will fully accrue in the second half of the year, leading to a shift in revenues from the first to the second half of the year when compared to 2022. Vanillin is a widely used ingredient in the F&F industry. When plant derived, it is only available in limited quantities and often subject to price and supply fluctuations as crop yields are heavily dependent on climate conditions. Thanks to its proprietary precision-fermentation platform, Evolva is able to offer nature-based, high-grade Vanillin of European origin with a superior sensory profile at very attractive conditions. This allows customers to replace expensive vanilla bean extracts as well as synthetic vanillin (which is obtained through a chemical process), meeting the increasing demand of consumers for more natural ingredients which are responsibly and sustainably produced. CEO Christian Wichert comments: "The signing of this agreement is a huge and exciting milestone for the new Evolva. It demonstrates our ability to successfully deliver commercial growth to bring Evolva to the next level. I am very proud of the team having successfully created the basis for this exciting new business for Evolva, combining Evolva's core competencies along the entire value chain." Evolva aims to become an industrial biotech leader, providing solutions around natural ingredients addressing the global megatrends of health, wellness and sustainability. Based on the company's proprietary precision-fermentation platform, Evolva is well positioned to resolve supply bottlenecks of nature.
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Disclaimer Additional features: File: Evolva signs multi-year agreement with leading CMO partner to enable supply of Vanillin to global F&F customer of around CHF 35 million until 2026 End of Inside Information |
| Language: | English |
| Company: | Evolva Holding SA |
| Duggingerstrasse 23 | |
| 4153 Reinach | |
| Switzerland | |
| Phone: | +41 61 485 20 00 |
| Internet: | www.evolva.com |
| ISIN: | CH0021218067 |
| Valor: | 2121806 |
| Listed: | SIX Swiss Exchange |
| EQS News ID: | 1623693 |
| End of Announcement | EQS News Service |
1623693 05-May-2023 CET/CEST
