Evolva achieves important product-related milestones with global customer, triggering revenues of more than 20% of FY21 total revenues

Evolva Holding SA / Key word(s): Development of Sales

20-Apr-2022 / 07:01 CET/CEST
Release of an ad hoc announcement pursuant to Art. 53 LR
The issuer is solely responsible for the content of this announcement.

Ad Hoc Announcement (PDF)

PRESS RELEASE | AD HOC ANNOUNCEMENT PURSUANT TO ART. 53 LR

• First commercial batch successfully produced according to specifications of the customer, after prior successful completion of demo and engineering batches
• Related revenues of more than 20% of last year's total revenues triggered, which are expected to accrue in 2022
• Additional orders of commercial product from the customer expected in the future

Reinach, April 20, 2022 - Evolva (SIX:EVE), a pioneer in the field of natural molecules and industrial biotech, today announced the achievement of important milestones with a global customer of its Flavors and Fragrances business. As a result, revenues of more than 20% of last year's total company revenues are triggered. These revenues are expected to accrue entirely in 2022. Additional orders of commercial product from the customer are expected in the future.

The milestones relate to the successful production of the first commercial batch according to the specifications of the customer. Prior to that, demo and engineering batches of the product were successfully completed.

Anne De Vos, Chief Commercial Officer, comments: 'Our team is proud to have fully met the expectations of our global customer. The achievement is a reflection of the ongoing refinement of our product as well as of our strengthened manufacturing capabilities. With our precision-fermentation platform we are able to overcome resource constraints of nature. This makes us an attractive partner for companies striving for more nature-based ingredients.'
 

Important dates
May 5, 2022           Annual General Meeting
August 25, 2022     Half-year 2022 Report

About Evolva
Evolva is a Swiss biotech company focused on the research, development and commercialization of ingredients based on nature. We have leading businesses in Flavors and Fragrances, Health Ingredients and Health Protection. Evolva's employees, half of which are women, are dedicated to make the best products that can contribute to health, wellbeing and sensory enjoyment. Find out more at evolva.com and connect with us on LinkedIn.

For Evolva multimedia content, please visit: evolva.com/multimedia-library.

Contact
Thomas Schneckenburger, PhD, CFA
Head of Investor and Corporate Relations
+41 61 485 2003
+41 79 407 9952
thomass@evolva.com

Disclaimer
This announcement is not an offer of securities into the United States. The securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the 'Securities Act'), and may not be offered, pledged, sold, delivered or otherwise transferred, directly or indirectly, in the United States, except pursuant to an exemption from, or transaction not subject to, the registration requirements of the Securities Act. No public offering of securities is being made in the United States. Further, the securities referred to herein have not been and will not be registered under the applicable securities laws of Canada, Australia or Japan or under the applicable securities laws of any other jurisdiction where to do so might constitute a violation of such laws.

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.