Codexis Names Veteran Chemical Executive to Lead Codexis do Brasil
REDWOOD CITY, Calif., Oct. 11, 2011 /PRNewswire/ -- Codexis, Inc. (Nasdaq: CDXS) today announced that Achilles Antonio Clement has been named Director, Latin America. He will head the newly-formed Codexis do Brasil Participacoes Ltda., with responsibility for managing Codexis' expanding role in Latin America. He will report to David Anton, Ph.D., Chief Technology Officer and SVP, Process Development and Manufacturing.
"Achilles Clement brings Codexis broad experience in building and leading fuels and chemicals businesses in Latin America," Dr. Anton said. "Brazil is the world's fastest growing market for biofuels. His appointment, and the establishment of Codexis do Brasil, are significant elements of our growth strategy in this important region. We are very pleased to welcome Achilles to our leadership team."
This announcement follows the signing last month of a joint development agreement between Codexis and Raizen Energia S.A, Brazil's largest sugar and ethanol producer, to develop an improved first generation ethanol process with enhanced performance economics.
Mr. Clement joins Codexis after more than 40 years in operations, sales and business development with DuPont in Latin America. He most recently served as Vice President, Global Business Development and earlier, Vice President of Sales, for DuPont's safety and environmental consulting division in Latin America. He was also active in developing new biofuels, including ethanol and butanol in the region.
Previously, Mr. Clement led sales, marketing and production for DuPont's titanium dioxide business, serving the plastics, paint and paper industries, and held senior business development management positions in the company's chemicals business. Prior to DuPont, he spent six years as a field manager in various sugar mills. He holds a degree in agronomy from the School of Agronomy Luiz de Queiroz, Piracicaba, Brazil.
Codexis is an industrial biotechnology company developing products that make manufacturing processes faster, cleaner and cheaper. Codexis' technology is commercialized with leading global pharmaceutical companies and is in development for advanced biofuels with Shell and for biobased chemicals. For more information, visit www.codexis.com.
Forward-Looking Statements
This press release contains forward-looking statements relating to Codexis' opportunities to improve the performance and cost structure of first generation ethanol with Raizen. 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 that could materially affect actual results. Important factors known to Codexis that could materially affect actual results include Codexis' dependence on the performance of other parties, including Raizen; Codexis' ability to grow its business if Codexis is unable to commercialize its technology in biofuels; fluctuations in the price of and demand for petroleum-based products may reduce demand for biofuels; the availability of renewable feedstocks may limit Codexis' biofuel opportunities; the demand for biofuels may be significantly reduced by reductions or changes to existing fuel regulations and policies; and risks associated with Codexis' international business. Additional factors that could cause results to affect actual results can be found in Codexis' Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on August 3, 2011, including under the caption "Risk Factors." Codexis expressly disclaims any intent or obligation to update these forward-looking statements, except as required by law.
Contacts:
Media: Lyn Christenson, [email protected], 650.421.8144 or Saskia Sidenfaden, [email protected], 212.827.3771. Investors: Henk Adriaenssens, [email protected], 650.421.8331
SOURCE Codexis, Inc.
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