Shell Grants Codexis Rights to Commercialize Cellulase Enzymes for Biofuels

REDWOOD CITY, Calif.–(BUSINESS WIRE)–Codexis, Inc. (NASDAQ:CDXS), a developer of cost-advantaged processes for the production of biofuels, bio-based chemicals and pharmaceuticals, today announced that the company has signed an agreement (the “New Agreement”) with Shell to expand Codexis’ ability to commercialize its CodeXymeTM cellulase enzymes.

“Codexis has developed some of the most cost effective and competitively advantaged cellulase enzymes in the world. Securing the rights to market these enzymes to advanced biofuel companies outside of Shell is a major milestone for the company”
Under the New Agreement, which is effective August 31, 2012, Shell has granted Codexis a royalty-bearing, non-exclusive license to develop, manufacture, use and sell cellulase enzymes developed under the companies’ Amended and Restated Collaborative Research Agreement, effective November 1, 2006 (the “Shell Research Agreement”). The scope of the New Agreement is worldwide, except Brazil, for enzymes used in the biofuels field. Codexis already has exclusive rights to commercialize its cellulase enzymes in other fields.

“Codexis has developed some of the most cost effective and competitively advantaged cellulase enzymes in the world. Securing the rights to market these enzymes to advanced biofuel companies outside of Shell is a major milestone for the company,” said John Nicols, President and CEO of Codexis. “We also remain focused on the Brazil market, where our discussions with Raízen continue regarding commercialization of our cellulase enzymes for second generation ethanol production.”

In exchange for these new rights, Codexis will be obligated to pay Shell a low single-digit percentage royalty on net sales of CodeXymeTM cellulase enzymes to customers other than Shell and its affiliates. Codexis will also be obligated to pay Shell a low single-digit percentage royalty on Codexis’ own use of cellulase enzymes in the biofuels field. Shell is also entitled to preferential pricing on purchases of cellulase enzymes from Codexis should the companies mutually agree to enter into a future supply arrangement.

Contacts

Codexis, Inc.
Investors:
Paul Cox, 212-362-1200
ir@codexis.com
Media:
Patrick Hillmann, 312-854-7520
media@codexis.com

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✔ Install carbon monoxide detectors - Carbon monoxide is an odorless, tasteless, invisible gas. Carbon monoxide results from the incomplete combustion of fossil fuels, such as wood, kerosene, gasoline, charcoal, propane, natural gas, and oil.

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✔ Check your detector batteries - It is a good idea to change the batteries in both your smoke and carbon dioxide detectors every year.  Since the batteries will probably still have charge in them, use them in a non-critical function, such as in remote controls.

✔ Check your fire extinguisher - Be sure to check your fire extinguishers every autumn to make sure it is functioning properly.

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  • indoor candles, matches or lighter
  • a flashlight with fresh batteries
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  • an index card with the telephone number of your local utility companies
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