ADL Bionatur Solutions and Amyris Expand Contract to 2020
ADL Bionatur Solutions and Amyris Expand Contract to 2020 - Contract expanded to 2020 with ADL revenues anticipated to exceed EUR 12 million |
[19-July-2019] |
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 About Amyris Forward-Looking Statements 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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Company Codes: Madrid:ADL, NASDAQ-NMS:AMRS |
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