Evo Foods will leverage Ginkgo's cell
engineering capabilities to explore recombinant production methods
for egg proteins
PALO
ALTO, Calif. and BOSTON, May 11, 2022
/PRNewswire/ -- Evo Foods, a consumer packaged goods company
creating the next generation of plant-based substitutes for animal
products, and Ginkgo Bioworks (NYSE: DNA), the leading horizontal
platform for cell programming, today announced a partnership to
develop a method for producing animal-free egg proteins for use in
Evo's products.
Facing increasing consumer demand for animal-free food
alternatives, companies throughout the food industry are searching
for optimal animal protein replacements that can seamlessly
supplement consumer tastes. Current egg substitutes have
limitations in their ability to replicate the texture, taste,
cooking properties and nutritional profile of eggs. Evo started in
2020 with the mission to end animal agriculture by creating
superior substitutes for animal-derived products by leveraging
India's crop biodiversity,
starting with the launch of several animal-free egg substitute
products. The company recently showcased its products in the U.S.
for the first time in San
Francisco on April 27, 2022.
By collaborating with Ginkgo, Evo intends to create next generation
egg substitutes with vastly improved properties.
"As consumers and food brands alike call for more sustainable
food options, we are excited to collaborate with Ginkgo to pioneer
a new class of animal-free ingredients," said Kartik Dixit, CEO,
Evo Foods. "Evo is committed to
playing a part in feeding our ever-growing world, and this
partnership will support us as we develop next-generation products
in this market."
"Ginkgo is always looking for new ways to help developers solve
massive societal challenges through the use of biology, and
partnering with Evo Foods to create more sustainable food
ingredients is the perfect opportunity," said Jason Kelly, CEO and cofounder, Ginkgo Bioworks.
"We're excited to help Evo make delicious food ingredients
sustainably."
Evo Foods is using Ginkgo's Cell Development Kits (CDKs) for
this work. CDKs are designed to cut the cost of launching a cell
program and speed up development timelines to build engineered
proteins or microbes. The service is also designed to enable
customers to prototype their idea in modules, with each module
potentially providing data that can inform the customer's project
and business strategy. To learn more about Ginkgo CDKs, please
visit www.ginkgobioworks.com/grow.
About Evo Foods
Evo Foods is a consumer packaged goods
(CPG) company operating in the United
States and India that
merges Indian crop biodiversity and cutting-edge science and
technology to create the next-generation of plant-based substitutes
for animal products starting with eggs. For more information, visit
www.evofoods.in.
About Ginkgo Bioworks
Ginkgo is building a platform to
enable customers to program cells as easily as we can program
computers. The company's platform is enabling biotechnology
applications across diverse markets, from food and agriculture to
industrial chemicals to pharmaceuticals. Ginkgo has also actively
supported a number of COVID-19 response efforts, including K-12
pooled testing, vaccine manufacturing optimization and therapeutics
discovery. For more information, visit www.ginkgobioworks.com.
Forward-Looking Statements of Ginkgo Bioworks
This press release contains certain forward-looking statements
within the meaning of the federal securities laws, including
statements regarding the potential success and objectives of the
partnership, Ginkgo's Cell Development Kits and Ginkgo's cell
programming platform. These forward-looking statements generally
are identified by the words "believe," "can," "project,"
"potential," "expect," "anticipate," "estimate," "intend,"
"strategy," "future," "opportunity," "plan," "may," "should,"
"will," "would," "will be," "will continue," "will likely result,"
and similar expressions. Forward-looking statements are
predictions, projections and other statements about future events
that are based on current expectations and assumptions and, as a
result, are subject to risks and uncertainties. Many factors could
cause actual future events to differ materially from the
forward-looking statements in this press release, including but not
limited to: (i) the effect of Ginkgo's business combination with
Soaring Eagle Acquisition Corp. ("Soaring Eagle") on Ginkgo's
business relationships, performance, and business generally, (ii)
risks that the business combination disrupts current plans of
Ginkgo and potential difficulties in Ginkgo's employee retention,
(iii) the outcome of any legal proceedings that may be instituted
against Ginkgo related to its business combination with Soaring
Eagle, (iv) volatility in the price of Ginkgo's securities now that
it is a public company due to a variety of factors, including
changes in the competitive and highly regulated industries in which
Ginkgo operates and plans to operate, variations in performance
across competitors, changes in laws and regulations affecting
Ginkgo's business and changes in the combined capital structure,
(v) the ability to implement business plans, forecasts, and other
expectations after the completion of the business combination, and
identify and realize additional opportunities, (vi) the risk of
downturns in demand for products using synthetic biology, (vii) the
unpredictability of the duration of the COVID-19 pandemic and the
demand for COVID-19 testing and the commercial viability of our
COVID-19 testing business, and (viii) changes to the biosecurity
industry, including due to advancements in technology, emerging
competition and evolution in industry demands, standards and
regulations. The foregoing list of factors is not exhaustive. You
should carefully consider the foregoing factors and the other risks
and uncertainties described in the "Risk Factors" section of
Ginkgo's annual report on Form 10-K filed with the U.S. Securities
and Exchange Commission (the "SEC") on March
29, 2022 and other documents filed by Ginkgo from time to
time with the SEC. These filings identify and address other
important risks and uncertainties that could cause actual events
and results to differ materially from those contained in the
forward-looking statements. Forward-looking statements speak only
as of the date they are made. Readers are cautioned not to put
undue reliance on forward-looking statements, and Ginkgo assumes no
obligation and does not intend to update or revise these
forward-looking statements, whether as a result of new information,
future events, or otherwise. Ginkgo does not give any assurance
that it will achieve its expectations.
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SOURCE Evo Foods USA Inc