L’Oréal steps up its biotech business with Evolva collaboration
Evolva is a pioneer in sustainable, fermentation-based approaches to ingredients for health, wellness and nutrition, with a portfolio that includes stevia, vanilla, saffron and resveratrol.
As well as developing its own proprietary ingredients, the Switzerland-headquartered firm also deploys its technology for partners.
Evolva and L’Oréal will apply Evolva’s fermentation technology platform to develop and optimise yeast strains for the sustainable, cost-effective production of this strategically important cosmetics ingredient.
Luc Aguilar, Global Head of L’Oréal’s Biotechnologies Department, says “Evolva’s biotech platform on yeast design, optimisation and fermentation could end in new cosmetic ingredients bringing a real breakthrough for our customers”.
Evolva CEO Neil Goldsmith adds that this collaboration further validates the broad industry applications potential of his company’s technology platform with products already featured in the health, wellness, and nutrition markets; and now cosmetics.
“We look forward to working with L’Oréal. We are confident that together we can leverage new and sustainable production routes to improve this ingredient’s sustainability profile, reduce its production costs, improve its supply chain predictability, and increase its formulation flexibility in cosmetics,” he says.
The collaboration will begin immediately and conclude in late 2016, and includes an option to expand the ingredient focus.
L’Oréal will pay Evolva research fees during the project period, and additionally, Evolva will be eligible to receive milestone payments based on achieving research objectives.