Evolva Achieves Second Milestone in Alliance With Takasago
10 Mar 2017 --- Evolva has reached the second technical milestone under the multi-year R&D alliance with Takasago. This achievement brings the project closer to the launch of the target ingredients and prompts a total milestone payment of US$1 million to Evolva as well as the continuation of the collaboration into the next phases.
The aim of the collaboration is to co-develop novel fermentation routes to produce several undisclosed ingredients with broad applications in the fragrance and flavor industry. Evolva and Takasago are applying Evolva’s fermentation technology platform to develop and optimise yeast strains for the sustainable and cost-effective production of the ingredients.
Based on the timing of the progress and the contractual agreement, the revenue was recognised in Evolva’s 2016 accounts.
Evolva solves the supply chain issues of nature through a 21st century mix of biotechnology and brewing, developing, making and selling natural ingredients that provide significant benefits to people in daily life, but whose supply chain issues have limited their use until now. Their flagship ingredients are stevia, nootkatone and resveratrol, but the company works on many more, both on their own behalf and with others.
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