REDWOOD CITY, Calif., July 28, 2011 /PRNewswire/ -- Codexis, Inc. (Nasdaq: CDXS) today announced introduction of the CodeXol™ detergent alcohol product line, and announced financial results for the second quarter ended June 30, 2011.
CodeXol™ Detergent Alcohols:Detergent alcohols - a $6 billion worldwide market – are used to make surfactants which act as cleaning and emulsifying agents in household products. They are widely used in laundry detergents, shampoos and other consumer products. Detergent alcohols today are made from non-sustainable palm kernel and petroleum sources. CodeXol™ detergent alcohols will be produced from sustainable sources.
“We look forward to introducing the CodeXol™ line of detergent alcohols to the household and consumer products markets,” said Alan Shaw, Ph.D., President and Chief Executive Officer. “Major consumer products companies are actively seeking more sustainable raw materials for their products in order to reduce environmental impact and minimize volatility in their supply chains. Detergent alcohols can be made from sugar and, ultimately, sustainable cellulosic biomass. Our proprietary cellulase enzymes, along with the detergent alcohols collaboration with Chemtex that we also announced today, represent important steps toward addressing this growing market need.”
The CodeXol™ product line, a family of detergent alcohols that is under development, is enabled by Codexis’ proprietary CodeEvolver™ directed evolution technology.
Second Quarter Financial Highlights:Revenue: For the second quarter of 2011, the company reported revenues of $26.1 million, an increase of 6% from $24.5 million in the second quarter of 2010. Product revenue of $8.4 million decreased 1% over the same time period primarily due to
|SOURCE Codexis, Inc.|
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