Evolva Achieves Milestones in Flavour & Fragrance Alliance with Takasago

Evolva (SIX:EVE) today announces reaching the first technical milestones under the multi-year R&D alliance with Takasago. This achievement, taking place three months ahead of schedule, prompts a total milestone payment of CHF 1 million to Evolva.

The aim of the collaboration is to co-develop novel fermentation routes to produce several undisclosed ingredients (codename Tourmaline) with broad applications in the flavour and fragrance 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. The two parties will share equally the costs and the economic value derived from the manufacturing and commercialisation of final products.

Masayuki Mita, Senior Vice President of the Fragrance and Aroma Chemical Division at Takasago commented, "Our project with Evolva is developing better than expected. Evolva’s team clearly proves to be very competent and focused. I am looking forward to further progress towards developing a competitive and sustainable production route for some of our key ingredients.”

Evolva CEO Neil Goldsmith said. "It is great working with the Takasago people who share our enthusiasm for flavours and fragrances as well our passion for fermentation and sustainability.”

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About Takasago

Takasago International Corporation is a world leader in the flavour and fragrance industry. Founded in Japan in 1920, Takasago has developed flavours and fragrances for some of the world's most successful food, beverage, fine fragrance, household and personal care products. Takasago is the only Asia-based global flavour and fragrance company specialising in nature-identical and asymmetric molecules using unique chiral technologies. For more information check at www.takasago.com.

About Evolva

Evolva is a pioneer and global leader in sustainable, fermentation-based approaches to ingredients for health, wellness and nutrition. Evolva’s products include stevia, resveratrol, vanillin, nootkatone and saffron. As well as developing its own proprietary ingredients, Evolva also deploys its technology for partners, providing them with a competitive edge and sharing in the returns they make. For more information see www.evolva.com. Questions about our fermentation approach? Have a look at our video.

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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