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ADL Bionatur Solutions and Amyris Expand Contract to 2020
LEÓN, Spain and EMERYVILLE, Calif., July 19, 2019 /PRNewswire/ -- ADL Bionatur Solutions (MAB: ADL), a company specialized in research and development of sustainable health and beauty products, services and industrial fermentation production, announces today the expansion of its existing production agreement with Amyris, Inc. (Nasdaq:AMRS). Amyris is a leader in the development and production of pure, sustainable, fermentation-derived ingredients for the Health & Clean Beauty markets.
The expansion follows previous contract expansions in June and December 2018. ADL will produce up to five ingredients for Amyris during the contracted period with the contract revenues amounting to at least EUR 12 million and an extension option for future years. According to Grand View Research, the global fermented ingredients market size was valued at approximately US $22 billion in 2018 and expected to expand at a growth CAGR of 8.5% between 2019-2025. Amyris has a very differential share of this growth with the current product portfolio growing at over 100% in 2019.
"ADL Bionatur Solutions has proven its quality, cost effectiveness and consistency as our production partner in the last two years. To enable us to meet the growing demand for our high‑quality cosmetic and sustainable ingredients business, a reliable partner for delivering clean fermentation ingredients is essential. We are happy to continue working with ADL through such a successful relationship," said Eduardo Alvarez, Chief Operating Officer of Amyris.
"This is already the third expansion of our production agreement with Amyris proving ADL is a valuable partner in fermentation production. Amyris has shown a continuous disruptive way of making the world healthier one molecule at a time, delivering solutions for a growing world. Our expertise as well as our production capacity ensure our ability to pursue a jointly ambitious and sustainable growth path. We, at ADL, are aiming for the first EBITDA positive year in 2019 and successful partnerships like this give us confidence that we can continue this trend in 2020 and beyond," said Pilar de la Huerta, CEO of ADL Bionatur Solutions.
About ADL Bionatur Solutions
ADL Bionatur Solutions (MAB: ADL) is a company specialized in biopharma manufacturing plus research and development of health, cosmetic and beauty products, services and industrial fermentation production. The Company, that owns the largest fermentation production plant in Southern Europe, carries out high value-added product development, scale-up and production for third parties. International healthcare companies as well as first-in-class academic and industrial laboratories mainly from Europe and the US are part of ADL's customer base. The biopharma manufacturing business is complemented by a research and development division, which creates a proprietary product pipeline in animal and human health. ADL is listed on the MAB, Spain's Alternative Stock Market (ISIN ES0184980003) and its major shareholder is the investment fund Black Toro Capital holding 73%. More information is available at www.adlbionatur.com.
Amyris is the integrated renewable products company that is enabling the world's leading brands to achieve sustainable growth. Amyris applies its innovative bioscience solutions to convert plant sugars into hydrocarbon molecules and produce specialty ingredients and consumer products. The company is delivering it's No Compromise™ products and services across several markets, including specialty and performance chemicals, flavours and fragrances, cosmetics ingredients, pharmaceuticals, and nutraceuticals. More information about the company is available at www.amyris.com.
This release contains forward-looking statements regarding Amyris, and any statements other than statements of historical fact could be deemed to be forward-looking statements. These forward-looking statements include, among other things, statements regarding future events, such as expected Amyris product and business growth in 2019 and beyond, including growth in product demand, and the anticipated growth of the global fermented ingredients market, including Amyris's share thereof. These statements are based on management's current expectations and actual results and future events may differ materially due to risks and uncertainties, including risks related to Amyris's liquidity and ability to fund operating and capital expenses, risks related to potential delays or failures in development, production and commercialization of products, risks related to Amyris's reliance on third parties, and other risks detailed from time to time in filings Amyris makes with the Securities and Exchange Commission, including Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. Amyris disclaims any obligation to update information contained in these forward-looking statements, whether as a result of new information, future events, or otherwise.
Amyris, the Amyris logo and No Compromise are trademarks or registered trademarks of Amyris, Inc. in the U.S. and other countries. All other trademarks are the property of their respective owners.
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SOURCE Amyris, Inc.