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The ingredients manufacturer Evolva is setting its sights on stronger cooperation with partners and is evaluating its organisational structure to fit this goal. The transition into a product-based company is well underway thanks to developments in the first half of 2017.
Evolva product sales in the first half of the year are “up strongly”, according to a company statement announcing the financial results for the first half of 2017. Product revenues accounted for 25 per cent of total income, up from 11 per cent in the first half of 2016.
“This is an exciting time for Evolva to take the next logical step in our company’s transformation process into a product-based company,” said CEO Simon Waddington.
But the Basel-based company does not intend to invest “large sums” into its own manufacturing facilities. “We prefer to partner strategically with those who already have such assets, like we have done with Cargill,” explained Waddington.
Commercial strategies will help rapidly expand product sales, and Evolva is evaluating its organisational structure to fit this focus. According to Waddington, the company will provide further details on this in the coming weeks.
Evolva partnered with Cargill to produce EverSweet, a stevia-based, zero-calorie sweetener. In April the two companies entered into a production and commercialisation agreement, and EverSweet is expected to be launched next year. Cargill is currently retrofitting its production facilities in Blair, Nebraska to this end.
The citrus ingredient nootkatone was launched in 2015 as a flavour and fragrance ingredient, and Evolva is now seeking to have it approved as an ingredient for pest control. The company expects to receive a decision from the US Environmental Protection Agency (EPA) in the second half of 2018. Nootkatone is said to be particularly effective against mosquitos, which can transmit the Zika virus.
Developments with resveratrol, which promotes healthy aging, are also proceeding well. According to Evolva, the first half of 2017 saw sales of resveratrol surpass those obtained in the whole of 2016. In February it launched Veri-te, the brand for marketing its high-purity, sustainably produced resveratrol, and it announced earlier this month that the Swedish wellness innovator Nutrinovate is now a customer.