Forging a New Frontier in Protein Supply and Feed Sustainability

Intrexon to Acquire EnviroFlight and Enter into Joint Venture with Darling Ingredients

Feb 25, 2016, 16:02 ET from Intrexon Corporation; Darling Ingredients Inc.

WEST PALM BEACH, Fla., YELLOW SPRINGS, Ohio and IRVING, Texas, Feb. 25, 2016 /PRNewswire/ -- Intrexon Corporation (NYSE: XON), a leader in synthetic biology, today announced it has agreed to acquire the business of EnviroFlight LLC and form a joint venture with Darling Ingredients Inc. (NYSE: DAR), the world's largest publicly-traded developer and producer of sustainable natural ingredients from bio-nutrients. EnviroFlight has developed proprietary technologies which enable the rearing of non-pathogenic black soldier fly (BSF) larvae in an industrially scalable manner. This innovative and responsible approach has considerable potential within the $60 billion global animal feed industry as it will provide an environmentally-friendly, toxin-free, sustainable source of high-value nutrients. 

"Current trends in human population growth drive increased demand for protein supply in food production, and we believe that BSF larvae provide the potential to revolutionize the animal feed industries," commented Corey Huck, Senior Vice President and Head of Intrexon's Food Sector. "Through our partnership with Darling, the world's largest producer of sustainable natural ingredients, we look forward to employing EnviroFlight's platform to create high-nutrition, low environmental impact animal and fish feed as well as fertilizer products."

EnviroFlight's scalable approach utilizing BSF larvae opens the door to a plentiful source of high quality nutrients for the aquaculture and livestock industries. Notably within the fish and poultry markets, BSF larvae may be more representative of the typical diet of these natural insectivores than soymeal and other plant-based meal regimens. Additionally fishmeal and fish oil are multi-billion dollar products critical to aquaculture's continued growth, yet demand is outpacing the fairly inflexible supply for these valuable feeds whose manufacture are heavily dependent on wild-caught fish.

"Black Soldier Fly larvae meal may represent a very useful ingredient in aquaculture and importantly it has no impact on the marine ecosystem," stated Rick Barrows, Ph.D., Research Physiologist for Agricultural Research Service in the United States Department of Agriculture. Dr. Barrows added, "Starter diets for rainbow trout incorporating BSF larvae meal resulted in an increase in feed consumption and growth, showing high palatability suggesting it could be useful with some of the more finicky species such as salmon and yellowtail.  Furthermore we have also found the essential nutrients in BSF larvae meal to have high digestibility."

In addition to reducing the depletion of marine ecosystems and decreasing dependence on non-sustainable protein sources, EnviroFlight's insect-based approach offers significant potential to recover the abundant food surpluses given its proficiency converting organic materials into valuable proteins and oils. While working with regulatory agencies to gain approvals for the use of BSF larvae for food animals, EnviroFlight will continue to supply select markets with high quality animal feed and all-natural fertilizers. 

"We are excited to enter this new collaboration with Intrexon, a leader in bio-based solutions to global problems, and to further enhance our broad bio-nutrient product portfolio continuing our goal of providing nutritional, functional, and ecological ingredients for animals," said Randall Stuewe, Chairman and Chief Executive Officer of Darling Ingredients. 

"EnviroFlight has focused on driving necessary change in the global food supply chain, and we look forward to working with Intrexon and Darling Ingredients to realize the considerable promise of insect bioconversion to offer solutions that meet this goal," said Glen Courtright, President of EnviroFlight.

Since late 2014, EnviroFlight has collaborated with Darling Ingredients to refine its scalable production processes for BSF larvae and upgrade its pilot facility. With over 130 years of experience, Darling is the foremost reclaimer and processor of inexpensive bio-sustainable feedstocks, repurposing typically inedible ingredients into usable specialty feed and food solutions. Darling's operational expertise in this area combined with EnviroFlight's innovative approach employing BSF larvae will be leveraged to standardize processes for creating and optimizing BSF-based feed. The joint venture intends to begin construction of a commercial plant this year setting the foundation for future global expansion. 

About EnviroFlight

EnviroFlight is a leader in sustainable animal and plant nutrition aiming to drive transformative change in the global food supply.  EnviroFlight's mission is to develop sustainable animal and plant nutrients using regionally available, low-value materials, emphasizing: production of nutrients in a socially responsible way; eliminating toxins, hormones, and antibiotics from our food supply; and reducing the environmental and financial costs to our food supply.

About Darling

Darling Ingredients Inc. is the world's largest publicly-traded developer and producer of sustainable natural ingredients from edible and inedible bio-nutrients, creating a wide range of ingredients and specialty products for customers in the pharmaceutical, food, pet food, feed, technical, fuel, bioenergy, and fertilizer industries.  With operations on five continents, the Company collects and transforms all aspects of animal by-product streams into broadly used and specialty ingredients, such as gelatin, edible fats, feed-grade fats, animal proteins and meals, plasma, pet food ingredients, organic fertilizers, yellow grease, fuel feedstocks, green energy, natural casings and hides.  The Company also recovers and converts used cooking oil and commercial bakery residuals into valuable feed and fuel ingredients.  In addition, the Company provides grease trap services to food service establishments, environmental services to food processors and sells restaurant cooking oil delivery and collection equipment. For additional information, visit the Company's website at www.darlingii.com.

About Intrexon Corporation

Intrexon Corporation (NYSE: XON) is Powering the Bioindustrial Revolution with Better DNA to create biologically-based products that improve the quality of life and the health of the planet.  The Company's integrated technology suite provides its partners across diverse markets with industrial-scale design and development of complex biological systems delivering unprecedented control, quality, function, and performance of living cells.  We call our synthetic biology approach Better DNA®, and we invite you to discover more at www.dna.com or follow us on Twitter at @Intrexon.

Trademarks

Intrexon, Better World through Better DNA™, Powering the Bioindustrial Revolution with Better DNA, and Better DNA are trademarks of Intrexon and/or its affiliates. Other names may be trademarks of their respective owners.

Safe Harbor Statement

Some of the statements made in this press release are forward-looking statements.  These forward-looking statements are based upon our current expectations and projections about future events and generally relate to our plans, objectives and expectations for the development of our business.  Although management believes that the plans and objectives reflected in or suggested by these forward-looking statements are reasonable, all forward-looking statements involve risks and uncertainties and actual future results may be materially different from the plans, objectives and expectations expressed in this press release.

 

 

 

For more information contact:

Darling Ingredients:
Melissa A. Gaither
VP Investor Relations and Global Communications
Tel:  +1 (972) 717-0300
Email: mgaither@darlingii.com

Intrexon Corporation:
Corporate Contact:
Marie Rossi, Ph.D.
Senior Manager, Technical Communications
Tel: +1 (301) 556-9850
Email: publicrelations@intrexon.com

Investor Contact:
Christopher Basta
Vice President, Investor Relations
Tel: +1 (561) 410-7052
Email: investors@intrexon.com

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SOURCE Intrexon Corporation; Darling Ingredients Inc.



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