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June 14, 2013

Codexis and Chemtex Achieve Key Milestone in Commercial Development of Bio-Based Chemicals from Non-Food Cellulosic Biomass

REDWOOD CITY, Calif. & TORTONA, Italy–(BUSINESS WIRE)–Jun. 14, 2013–
Codexis (NASDAQ: CDXS), a developer of engineered enzymes for
pharmaceutical, biofuel and chemical production, and Chemtex, a leader
in chemical engineering and renewable processes, today announced the
successful scale-up in the production of CodeXol® detergent
alcohols using cellulosic sugars. The scale-up was achieved at a 1,500
liter demonstration facility at Chemtex’s R&D complex in Tortona, Italy
and is a key milestone in the ongoing effort initiated by the two
companies to develop a fully integrated biomass to detergent alcohols
technology. A combination of Chemtex’s commercially proven PROESA®
cellulosic sugar technology and Codexis’ CodeXyme® 4X
cellulase enzymes was used to produce cellulosic sugars from non-food
biomass, while the CodeXol® detergent alcohol fermentation
process technology – which includes Codexis’ proprietary microorganism
strain – converted these cellulosic sugars to detergent alcohols.

Guido Ghisolfi, President of Chemtex, said, “While the PROESA®
technology is proven at commercial scale for the production of
cellulosic ethanol – as evidenced by the successful start-up of our
commercial facility in Crescentino, Italy – this achievement is further
proof that our platform cellulosic sugar technology is best-in-class for
producing a broad range of bio-based chemicals using sustainable,
non-food sources of biomass. It also validates our conviction that
scaling up these technologies beyond the lab is key to enabling the
learning curve towards commercial viability.

John Nicols, President and CEO of Codexis, said, “This scale-up of
CodeXol® detergent alcohols represents what we believe
is the world’s first successful large scale effort to produce
commercially relevant detergent alcohols from a cellulosic
biomass feedstock. We believe this scale-up demonstrates the robustness
and efficacy of our CodeXyme® cellulase enzymes and the
ability of our CodeXol® detergent alcohol technology to
produce detergent alcohols at commercial specification with the
potential to decrease manufacturing costs below incumbent production
costs.”

Detergent alcohols are used to manufacture surfactants, which are key,
active cleaning ingredients in consumer products such as shampoos,
liquid soaps and laundry detergents. The annual global market for
detergent alcohols, which are currently manufactured from natural oils
and fats and petrochemicals, is approximately $4 billion and is expected
to reach $5.5 billion by 2020. Codexis and Chemtex initiated an effort
in 2011 to produce these high-value chemicals from sustainable, low-cost
and non-food sources of biomass, which has the potential to offer
attractive production economics compared to incumbent production routes.

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.

About Chemtex

Chemtex is a global engineering and technology company wholly-owned by
Italy’s Gruppo Mossi & Ghisolfi (“M&G”). Chemtex specializes in
delivering value-added project solutions for its clients in the
bio-fuels, renewable chemicals, energy, environmental, petrochemical,
polymers and fibers industries. The company benefits from over 60 years
of success in process development and commercializing hundreds of plants
worldwide. Chemtex International Inc., its North American Headquarters,
is located in Wilmington, N.C.

Chemtex is a leader in chemical engineering and renewable processes. It
has engineered and constructed the world’s first commercial-scale
cellulosic ethanol facility in Crescentino, Italy for Beta Renewables
producing cellulosic ethanol from locally sourced cellulosic biomass
using its PROESA® Process.

Codexis Forward-Looking Statements

This press release contains forward-looking statements relating to the
ability of Codexis to produce CodeXol® detergent alcohols at
commercial specification and to decrease the manufacturing costs for
CodeXol® detergent alcohols below production costs for
detergent alcohols currently on the market, the expected growth in the
global detergent alcohols market over the next ten years and Codexis’
ability to offer attractive production economics for CodeXol®
detergent alcohols compared to incumbent production routes. 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 Codexis’ control and that could
materially affect actual results. Factors that could materially affect
actual results include Codexis’ ability to maintain license rights to a
commercial scale expression system for enzymes that convert cellulosic
biomass to sugars, the feasibility of commercializing bio-based
chemicals derived from cellulose, the fluctuations in the price of and
demand for certain commodities used in the production of fossil
fuel-based chemical products, the cost or location of feedstocks used to
manufacture bio-based chemicals and customer approval of Codexis’
potential bio-based chemical products. Additional factors that could
materially affect actual results can be found in Codexis’ Quarterly
Report on Form 10-Q filed with the Securities and Exchange Commission on
May 9, 2013, including under the caption “Risk Factors.” Codexis
expressly disclaims any intent or obligation to update these
forward-looking statements, except as required by law.

Source: Codexis, Inc.

Codexis, Inc.
Investors
Paul Cox, 212-362-1200
ir@codexis.com
or
Media
Jemma
Connor, +44 161 359 3255
jemma.connor@notchcommunications.co.uk
or
Chemtex
Michele
Rubino, 617-230-6162
michele.rubino@chemtex.com

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