Codexis signs new biofuels enzyme agreement with Shell

Production developer of biofuels and bio-based chemicals Codexis has signed an Exclusive Negotiation Agreement with Shell.

Shell has agreed to negotiate exclusively with Codexis and would grant the company certain rights and licenses in the biofuels field to develop and sell cellulase enzymes to third parties on a worldwide basis, except Brazil. Codexis has exclusive rights to commercialise its cellulase enzyme technology in all other fields.

‘Currently, our cellulase enzyme technology can only be commercialised in the advanced biofuels field through Shell and its affiliates. If we finalize a new agreement with Shell as we currently anticipate, the rest of the world’s second generation biofuels producers will now also be available as target customers for our technology,’ says Codexis CEO John Nicols.

Codexis and Shell also agreed under the ENA that, beginning at the end of August, Shell can elect to reduce between 13 and 48 full-time employee equivalents under their Collaborative Research Agreement on one day notice. Previously, the required notice period for this type of reduction was 90 days.