REG - Ocean Harvest Tech. - Grant of Patent

Ocean Harvest TechnologyAnnouncement

27/02/2024 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20240227:nRSa5014Ea&default-theme=true

RNS Number : 5014E  Ocean Harvest Technology Group PLC  27 February 2024

27 February 2024

 

Ocean Harvest Technology Group plc

 

("OHT", the "Company", or the "Group")

 

Grant of Patent

 

Significant Milestone for OHT's IP Strategy

 

 

Ocean Harvest Technology Group Plc (AIM: OHT), a leading researcher, developer
and supplier of proprietary blended seaweed products as functional additives
for the global animal feed industry, is pleased to announce that it has been
granted a second patent, covering a wide range of claims about the benefits of
using its OceanFeed(TM) product in the diets of a range of animals.

 

The patent protects the claims:

 

i)          of how OHT's product positively impacts the gut through
its proven pre-biotic effect; and,

ii)          that this results in increased body weight and/or
improved feed efficiency in a wide range of animals.

 

The grant of this patent is a core pillar of OHT's intellectual property
strategy and protects OHT's IP over the core claims of how its OceanFeed(TM)
proprietary blended seaweed additive products work and the benefits it leads
to which are so important to OHT's customers.  Importantly, the patent covers
a range of formulations providing OHT with significant flexibility in the
future, both in terms of which seaweeds the Company uses and the exact
proportions in which these are combined to produce the end products delivered
to customers.

 

The patent, GB1909443.2 "Seaweed Blend for Modifying Gut Microbiota" has been
issued by the UK Intellectual Property Office and similar applications have
been made in other relevant jurisdictions by OHT. To OHT's knowledge, this is
the only patent that has been granted in any of OHT's target markets which
covers the mode of action of a seaweed blend as an additive to animal feed
diets.

 

This patent provides OHT with a significant competitive advantage by ensuring
that whilst others can blend seaweeds together, they would not be able to make
any of the core claims about the benefits of the product that OHT can make and
which ultimately matter to the end buyers of OceanFeed(TM). This patent also
acts as a significant barrier to entry in the supply of blended seaweed
products as additives to animal feed.

 

OHT's IP strategy is part of a multi-pronged approach to build a competitive
advantage for the business alongside its supply chain strategy, accumulation
of "know how" and an ever expanding body of data from dozens of commercial and
academic trials carried out over many years. The Company is working to make
seaweed-based feed additives a material part of the $40 billion animal feed
additive market and to ensure OHT can maintain its position as a leading
producer of seaweed blends to this market.

 

Mark Williams, CEO of OHT, commented:

 

"The granting of this patent is a very important milestone for OHT.  For a
number of years we have been demonstrating improved performance in production
animals from adding OceanFeed(TM) to their diets including higher growth
rates, reduced mortality and improved feed efficiency.  The grant of this
patent enables us to uniquely make and protect the claims over these
performance improvements and how they are achieved, which is through the
specific pre-biotic effect our product has in the microbiome of the animals."

 

 

For more information please contact:

 Ocean Harvest Technology Group plc                                     Tel: +44 (0) 1737 735018

 Mark Williams, CEO

 Cavendish Capital Markets Limited (Nominated Adviser and Sole Broker)  Tel: +44 020 7220 0500
 Geoff Nash / Seamus Fricker / George Dollemore (Corporate Finance)

 Tim Redfern / Harriet Ward (ECM)

 Camarco (Financial PR Adviser)                                         Tel: +44 (0) 203 757 4991
 Tom Huddart / Rosie Driscoll / Letaba Rimell                           oht@camarco.co.uk (about:blank)

 

The information contained within this announcement is deemed to constitute
inside information as stipulated under the Market Abuse Regulations (EU No.
596/2014) which is part of UK law by virtue of the European Union (Withdrawal)
Act 2018. Upon the publication of this announcement, this inside information
is now considered to be in the public domain.

 

 

Notes to Editors

 

Ocean Harvest Technology Group plc is a global leader in the development and
commercialisation of value adding proprietary products from blending multiple
species of seaweed. The Company provides a range of natural additives focused
on improving animal performance and the sustainability of the feed chain,
through its unique and proven proprietary seaweed blends. The Company sources
its seaweed globally, utilising sustainable and socially responsible
harvesting of largely wild blooming seaweed species.  Its products are
produced in its facility in Vietnam and sold into the $40bn animal feed
additive sector in multiple markets across the world.

For more information, please visit www.oceanharvesttechnology.com
(about:blank) .

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  MSCFLFVRFDIRFIS