Two companies collaborate to develop and commercialize fermentation-derived steviol glycosides.
March 6/Reinach, Switzerland/Press Release -- Evolva Holding SA entered into an agreement with Cargill to jointly develop and commercialize fermentation-derived steviol glycosides. Cargill will be responsible for commercialization and has agreed to make a CHF 5 million (approximately USD 5.3 million) equity investment in Evolva. Additionally, Evolva stands to receive up to USD 7.5 million in milestone payments and has the right to a 45% participation in the final business. If Evolva decides not to exercise this option it will receive royalty payments from global sales of the co-developed steviol glycoside products; these royalties will scale from mid-single digit to low double-digit percentages as a function of sales volume and other parameters.
Cargill brings to the collaboration its vast manufacturing and commercial expertise in bulk sweeteners, food ingredients, and of course stevia sweeteners. Cargill is a global market leader in the stevia-based sweetener category with consumer products and as an ingredient, which can be found in a variety of branded food products and beverages sold in the U.S., Europe, Mexico, and South America.