11 May 2015
VIEW EVOLVA PRESENTATION FY 2014
ABOUT EVOLVA'S FERMENTATION TECHNOLOGY
READ MORE TECHNOLOGY IMPLEMENTATION
ABOUT STEVIA (STEVIOL GLYCOSIDES)
Stevia-based sweeteners
are highly sought-after natural, zero-calorie sweeteners.
However, their broader use is currently constrained by their taste
at high usage levels, which can be bitter or have an after-taste.
Certain stevia sweetener molecules such as
Reb D and Reb M
do not have this problem, but, because they only make up
a tiny portion of the plant’s leaf (much less than 1 percent),
it is prohibitively costly to obtain them from the stevia plant.
Fermentation removes these constraints
and should allow a dramatic expansion
in the use of next generation stevia sweeteners,
allowing food and beverage producers
to create new classes of lower calorie products
that taste great and are affordable to all.
DETAILS
have agreed to begin the engineering phase for converting
an existing Cargill manufacturing facility to produce
next-generation stevia sweeteners (steviol glycosides).
These sweeteners will be produced
in a Cargill fermentation system in Blair, Nebraska.
Using a larger existing facility gives the companies
the flexibility to expand rapidly and cost-effectively
to meet commercial demand.
The ingredients are expected
to be commercially available in 2016.
Under terms of the 2013 joint development agreement
between the two companies, Evolva received an option
to obtain up to a 45% stake in the business
to commercialize the sweeteners.
Evolva has informed Cargill that
it intends to exercise this 45% option, subject to
final terms being agreed between the two companies.
Total investment by Cargill and Evolva
in the engineering phase will be USD 3 million.
Evolva does not expect to incur further costs
relating to the option exercise
before the final agreement is in place,
which is expected to be in the second half of 2015.
Upon signing the final agreement Evolva anticipates
that it will need to invest low tens of millions USD through 2017.
Evolva is exploring various financing options in this context.
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