On December 30, 2023, Novozymes and Chr. Hansen announced that their future combined company will be called "Novonesis". The name is derived from the Greek word "genesis", meaning "new beginning", reflecting the dawning of a new era in bio-solutions. Novalis will unleash the full potential of bio-solutions to create significant value for all stakeholders and society at large.
Novozymes reflects our past, our accomplishments, and our shared vision," said Ester Baiget, president and CEO of Novozymes. We are committed to harnessing the transformative potential of biology and stand ready to embrace unprecedented opportunities. At Novonis, we will unite the brightest minds and best science and technology in the field to help our clients and businesses prosper while solving some of their biggest challenges. We are ushering in an era of biological solutions, which is why we chose to name our new company Novonis, meaning 'a new beginning'."
Cees de Jong, Chairman of Novozymes, added: "We worked closely with Cohanson to decide on the name Novozymes. It was vital to find a name that could accommodate our 10,000 employees, but more importantly, the name should represent the future potential of bio-solutions. We believe the name Novonis has done just that. The name reflects the tremendous commitment we have made to making BioSolutions a bigger part of our planet's future."
Meanwhile, the name Novonis is complemented by a brand identity inspired by microbiology.
Progress on the merger
The merger approval process is proceeding on schedule and the transaction is expected to close in the first quarter of 2024, subject to regulatory approvals. Prior to the completion of the proposed merger, Novozymes and Cohanson will operate as independent companies.
The name Novonesis is derived from the roots of classical science. The word "Genesis" means "origin" or "beginning" in Greek, and pays tribute to the pivotal role of ancient Greek thinkers in the development of today's science. "Novo" means "new". The name Novo is associated with strong scientific capabilities, a purpose-driven mentality, a Nordic heritage and a contributing member of society. These are assets and values that will be shared by the future merged company.
Post-merger overview
Expected CAGR of organic sales including synergies through 2025: 6-8% (baseline 2023).
Global network of 23 manufacturing sites and nearly 40 R&D and application centers with approximately 10,000 talented and purposeful employees.
Commitment to achieve carbon neutrality by 2050, reduce Scope 1 and Scope 2 emissions from its own operations by 75% by 2030, and reduce Scope 3 emissions across its supply chain by 35% by the end of 2030.
The target for gender balance among all Professionals and senior managers is 45% to 45% by 2030.
About Chr. Hansen
Chr. Hansen is a global, differentiated biotechnology company that develops natural ingredient solutions for the food, nutrition, pharmaceutical and agriculture industries. At Chr. Hansen, we have the ability to drive positive change through microbial solutions. We have been working for 145 years to make sustainable agriculture, better food and healthier lives accessible to more people around the world. Our microbial and fermentation technology platform, including our extensive and relevant collection of some 40,000 microbial strains, has game-changing potential. Meeting customer needs and global trends, we continue to unleash the power of beneficial bacteria to address global challenges such as food waste, global health and overuse of antibiotics and pesticides. As the world's most sustainable food ingredients company, we touch the lives of more than 1 billion people every day. Driven by our tradition of innovation and our intellectual curiosity to explore science, our purpose - to make the world a better place. naturally - is at the heart of everything we do.
About Novozymes
Novozymes is a global leader in biological solutions. Together with our customers, partners and global community, we help build a better life by improving industrial performance while conserving the planet's resources. As the world's largest supplier of enzymes and microbial technologies, our biological innovations enable higher agricultural yields, low-temperature washing, energy-efficient production, renewable fuels, and many other benefits we depend on today and in the future. We call it "rethinking the future".
