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IFF, Amyris Sign Renewable Fragrance Ingredients Pact
Posted: April 29, 2013
International Flavors & Fragrances Inc. (IFF) has signed a pact with renewable products company Amyris to develop and commercialize a specific set of renewable fragrance ingredients.
Under the terms of the multi-year agreement, IFF and Amyris will jointly develop a sustainable, cost-effective and reliable source of key fragrance ingredients. IFF will have exclusive rights to these renewable fragrance ingredients for applications in the flavors and fragrances field, and Amyris will have exclusive rights in other fields. IFF and Amyris will share in the economic value derived from these ingredients.
"As our companies join forces we look forward to co-creating new cost-effective, sustainable ingredients to meet the growing needs of our customers and the global consumer," said Doug Tough, IFF chairman and CEO.
"Our collaboration with IFF is a critical element of our strategy to build on our synthetic biology platform to deliver new renewable ingredients to a range of industry sectors," added John Melo, Amyris president and CEO. "We are confident in achieving the milestones we have set under this as well as our other collaborations in the F&F space," Melo concluded.
"We are excited to strengthen our biotechnology platform and continue exploring additional opportunities that biotechnology offers," said Ahmet Baydar, senior vice president of R&D at IFF.