Bolt Threads Announces Latest Collaboration with Ginkgo Bioworks to Optimize its Mylo™ Material

Program builds on the existing relationship between the partners following existing b-silk™ protein optimization project

BOSTON, Oct. 20, 2022 /PRNewswire/ -- Bolt Threads, a biotechnology company creating the next generation of advanced materials, and Ginkgo Bioworks (NYSE: DNA), the leading horizontal platform for cell programming, today announced a multi-project collaboration to increase the production efficiency and performance of Bolt's current portfolio as well as expand it by developing novel proteins for biomaterials. The first program in this collaboration aims to optimize the production efficiency of Bolt's Mylo™ material, a leather alternative made out of mycelium, the underground root-like system of fungi.

Mylo is an animal-free, sustainable alternative to leather grown from mycelium. Through Bolt Threads' production process, mycelium grows into a foamy layer that, once harvested, can be dyed and processed into sheets of material that can be customized to desired size, color, shape and thicknesses. Mylo can be used in footwear, handbags, wallets, phone cases, and other products, and is already in use by brands like adidas, Stella McCartney, GANNI and lululemon. Unlike traditional leather made from animal hides, mycelium leather does not rely on raising livestock, and unlike synthetic leather, Mylo isn't petroleum-derived.

Through this collaboration, Ginkgo aims to increase the growth rate of Bolt's mycelium, lowering the overall production costs of Mylo. This collaboration also marks an expansion of the companies' work together, as they are already working to optimize the sustainability, efficiency and cost effectiveness of Bolt Threads' b-silk™ protein manufacturing process.

"Over the last few years, the largest fashion brands worldwide and the textiles industry have collectively recognized the need to develop more sustainable and low-footprint materials. Bolt Threads is at the forefront of this shift, and Mylo represents this future," said Jason Kelly, CEO and co-founder, Ginkgo Bioworks. "We are excited to leverage our Foundry and Codebase to help drive down the cost of producing Mylo making the product more accessible to a variety of markets where innovative and exciting alternative materials can be used."

"Ginkgo's expertise in engineering biology has enabled us to accelerate our work transforming the clean beauty and personal care industries with b-silk protein," said David Breslauer, Co-Founder and Chief Technology Officer at Bolt Threads. "We are thrilled to be partnering with them again to optimize the production of our mycelium technology which will help make Mylo more accessible to consumers and brands alike."

Bolt Threads is on a mission to create way better materials for a way better world by developing sustainable solutions for the apparel and beauty industries. With nature as inspiration, Bolt invents and scales materials that put us on a path towards a more sustainable future including Mylo, a mycelium-based leather alternative. Mylo is currently in the design studios of iconic global companies including adidas, GANNI, and Kering, and available for purchase in products from Stella McCartney and lululemon. Bolt Threads is based in the United States in Emeryville, California, and is one of Fast Company's Most Innovative companies. To learn more, please visit www.boltthreads.com, www.mylo-unleather.com or @mylo_unleather on social.

Ginkgo is building a platform to enable customers to program cells as easily as we can program computers. The company's platform is enabling biotechnology applications across diverse markets, from food and agriculture to industrial chemicals to pharmaceuticals. Ginkgo has also actively supported a number of COVID-19 response efforts, including K-12 pooled testing, vaccine manufacturing optimization and therapeutics discovery. For more information, visit www.ginkgobioworks.com.

This press release contains certain forward-looking statements within the meaning of the federal securities laws, including statements regarding the potential success of the partnership and Ginkgo's cell programming platform. These forward-looking statements generally are identified by the words "believe," "can," "project," "potential," "expect," "anticipate," "estimate," "intend," "strategy," "future," "opportunity," "plan," "may," "should," "will," "would," "will be," "will continue," "will likely result," and similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to: (i) the effect of Ginkgo's business combination with Soaring Eagle Acquisition Corp. ("Soaring Eagle") on Ginkgo's business relationships, performance, and business generally, (ii) risks that the business combination disrupts current plans of Ginkgo and potential difficulties in Ginkgo's employee retention, (iii) the outcome of any legal proceedings that may be instituted against Ginkgo related to its business combination with Soaring Eagle, (iv) volatility in the price of Ginkgo's securities now that it is a public company due to a variety of factors, including changes in the competitive and highly regulated industries in which Ginkgo operates and plans to operate, variations in performance across competitors, changes in laws and regulations affecting Ginkgo's business and changes in the combined capital structure, (v) the ability to implement business plans, forecasts, and other expectations after the completion of the business combination, and identify and realize additional opportunities, (vi) the risk of downturns in demand for products using synthetic biology, (vii) the unpredictability of the duration of the COVID-19 pandemic and the demand for COVID-19 testing and the commercial viability of our COVID-19 testing business, (viii) changes to the biosecurity industry, including due to advancements in technology, emerging competition and evolution in industry demands, standards and regulations, and (ix) our ability to realize the expected benefits of merger and acquisition transactions. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the "Risk Factors" section of Ginkgo's quarterly report on Form 10-Q filed with the U.S. Securities and Exchange Commission (the "SEC") on August 15, 2022 and other documents filed by Ginkgo from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Ginkgo assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Ginkgo does not give any assurance that it will achieve its expectations.

BOLT THREADS MEDIA CONTACT:
press@boltthreads.com

GINKGO BIOWORKS INVESTOR CONTACT:
investors@ginkgobioworks.com

GINKGO BIOWORKS MEDIA CONTACT:
press@ginkgobioworks.com

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SOURCE Ginkgo Bioworks