Evolva have announced reaching 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 USD 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 flavour 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.