In independent third-party tests with the National Renewable Energy Laboratory (NREL) in Golden, Colorado and Chemical Engineering Research Consultants in Toronto, Canada, CodeXyme® cellulase performed comparably or better than other leading enzymes. The studies compared the conversion of glucan to C6 sugars on dilute-acid pre-treated corn stover, using leading commercial enzyme products at their optimal pH and temperature. CodeXyme® 3 (Codexis’ cellulase enzyme from 2011) was found to convert the same or more glucan at the same enzyme load as competing cellulase packages, and CodeXyme® 4 fared even better against the latest alternative commercial enzymes.Commercial and Manufacturing Plan In September 2012, Codexis established a robust applications capability and has since sold CodeXyme® 4 and 4X to over a dozen potential partners and customers at lab and pilot scale. CodeXyme® cellulase has been used successfully to hydrolyze biomass pre-treated with both acid-based and hydrothermal methods, as well as in sequential and simultaneous hydrolysis and fermentation. Codexis is scheduled to scale up its novel CodeXyme® 4X cellulase strain at commercial scale in the second quarter of this year. CodeXyme® 4X cellulase will also be used in pilot production of bio-based CodeXol TM detergent alcohols in collaboration with Chemtex in Rivalta, Italy by mid-year. Upcoming Press Conference at the World Biofuels Conference in Rotterdam, The Netherlands Dave Anton, Codexis’ Senior Vice President, Bioindustrials, will discuss CodeXyme® cellulase today, March 12, 2013 at the World Biofuels Conference in Rotterdam, The Netherlands. The briefing will be held at 1pm (CET) in the Blue Room of the Beurs-World Trade Center. Learn more about CodeXyme® cellulase at www.codexis.com/codexyme. About Codexis, Inc. Codexis, Inc. engineers enzymes for pharmaceutical, biofuel and chemical production. Codexis’ proven technology enables scale-up and implementation of biocatalytic solutions to meet customer needs for rapid, cost-effective and sustainable process development – from research to manufacturing. For more information, see www.codexis.com. CodeXyme®, CodeEvolver®, CodeXporter® and CodeXol™ are trademarks or registered trademarks of Codexis.
Forward-Looking StatementsThis press release contains forward-looking statements relating to ability of Codexis’ CodeXyme® cellulase enzymes to significantly improve yields and reduce the cost of cellulosic sugar production for biofuels and bio-based chemicals, the potential commercial scale-up of Codexis’ CodeXyme® cellulase enzymes in the second quarter of 2013, the scheduled use of Codexis’ CodeXyme® cellulase enzymes in our CodeXol™ detergent alcohol demonstration facility by mid-2013 and Codexis’ expectation that CodeXyme’s first full-scale commercial facility will result in CodeXyme® cellulase becoming the lowest cost-in-use enzyme package. You should not place undue reliance on these forward-looking statements because they involve known and unknown risks, uncertainties and other factors that are, in some cases, beyond our control and could materially affect actual results. Factors that could materially affect actual results include the success of Codexis’ CodeXyme® cellulase enzymes program being heavily dependent on Codexis’ ability to secure third-party funding; the feasibility of the commercialization of biofuels derived from cellulose; Codexis’ ability to maintain license rights to a commercial scale expression system for enzymes that convert cellulosic biomass to sugars; fluctuations in the price of and demand for certain commodities may reduce demand for Codexis’ technology; Codexis’ biofuel business opportunities may be limited by the availability, cost or location of feedstocks; and changes to existing biofuel regulations and policies may present technical, regulatory and economic barriers to demand for Codexis’ CodeXyme® cellulase enzymes. Additional factors that could materially affect actual results can be found in Codexis’ Quarterly Report on Form 10-Q for the period ended September 30, 2012 filed with the Securities and Exchange Commission on November 7, 2012, including under the caption “Risk Factors.” Codexis expressly disclaims any intent or obligations to update these forward-looking statements, except as required by law.