Evolva continues transition towards product-based business

21 Aug 2017

Resveratrol, nootkatone and stevia company Evolva has reported that revenue from R&D declined by 18% to CHF2.7 million, but revenue from product sales increased 125% to CHF0.9 million.

Resveratrol, nootkatone and stevia company Evolva has reported its financial results for the first half of the year. While revenue from R&D declined by 18% to CHF2.7 million, revenue from product sales increased 125% to CHF0.9 million as Evolva transitions from being a research organisation to a product-based company.

“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 Simon Waddington, CEO of Evolva. “There is a considerable demand to bring natural ingredients to the market for health, wellness and nutrition and related fields. However, many are limited by supply chain issues. Our mission remains to solve such issues by delivering cost-competitive products, produced in a sustainable way through bio-production. Over the past 13 years Evolva has invested considerable resources to build a powerful and unique innovation engine to make complex ingredients, and importantly, link it to cost-efficient manufacturing processes. However, Evolva does not intend to invest large sums into own manufacturing facilities. We prefer to partner strategically with those who already have such assets, like we have done with Cargill. Similarly, we are now exploring a commercial strategy to rapidly expand product sales, working with market leading companies to bring products to market. We are evaluating our organisational structure to fit this focus. We will provide further details in Q3.”

The company said that it expects to continue expanding its customer pipeline which, in turn, should boost product revenues, which Evolva expects to at least triple in 2017 compared to last year.