RCS - Seed Innovations Ltd - Investee Company Update: Clean Food Group Ltd

Seed InnovationsAnnouncement

05/12/2022 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:20221205:nRSE4992Ia&default-theme=true

RNS Number : 4992I  Seed Innovations Limited  05 December 2022

5 December 2022

SEED Innovations Limited

("SEED" or the "Company")

Investee Company Update: Clean Food Group Ltd

SEED Innovations Ltd, the AIM-quoted company investing in fast-growing and
industry-leading businesses with a focus on the medical cannabis, health, and
wellness space, is pleased to note an announcement released by portfolio
company, Clean Food Group Ltd ("Clean Food Group" or "CFG"), a UK-based
cellular agriculture company focused on the commercialisation of palm oil by
fermentation. CFG has received an investment from Doehler Ventures, the
venture arm of Doehler Group (https://www.doehler.com/en/) GmbH
(https://www.doehler.com/en/) ("Doehler"), who are focused on early-stage
start-ups in the Nutrition & Technology ecosystem.

Ed McDermott, CEO of SEED, commented: "I am very pleased to share news of
CFG's investment from, and strategic partnership with, Doehler Ventures. For a
young company, CFG's opportunity to be involved with an influential and global
producer, marketer and provider of technology-driven natural ingredients and
systems represents a key milestone.

"This latest investment by Doehler Ventures further highlights CFG's
opportunity as a disruptive food-tech business bringing sustainable,
cultivated foods to market. The collaboration provides CFG with Doehler
Group's industry-leading expertise in production scale up, to accelerate its
proprietary fermentation platform and accelerate the production of its palm
oil alternative."

The Company owns a holding of 5,850,000 shares representing 5.38% of CFG's
total issued share capital. The investment by Doehler in CFG has no current
impact on this position.

The following extract from the announcement is set out without material
changes or adjustments and the announcement in full can be accessed from the
link below this section.

Doehler Ventures invests in food-tech business Clean Food Group to
accelerate   scale up and market approval of sustainable Palm Oil
Alternative

·    Doehler Ventures has made an investment in pioneering food-tech
business Clean Food Group

·    Through a further technical collaboration agreement Doehler Group
will provide its industry-leading expertise in production scale up to
accelerate Clean Food Group's technology,

·    Clean Food Group's mission is to be part of the solution to the
environmental crisis beginning with the production of its palm oil alternative

Today, 5 December 2022, Clean Food Group - a pioneering UK-based food-tech
business that has developed a revolutionary and sustainable, bioequivalent
alternative to palm oil has announced that it has received investment from
Doehler Ventures, part of the Doehler Group, a global producer, marketer and
provider of technology-driven natural ingredients, ingredient systems and
integrated solutions for the global food, beverage and nutrition industry.

As part of an accompanying collaboration agreement between the two companies,
Doehler Group will support the scale up of the Clean Food Group's technology,
demonstrating production at commercial scale as well as manufacturing product
batches required for market approval. The two groups plan to continue the
strategic partnership in the future, as Clean Food Group continues to develop
their category offerings.

The revolutionary sustainable palm oil alternative will help reduce the
detrimental environmental impact of a range of palm-based ingredients that can
be found in nearly 50% of all packaged products on our supermarket shelves.
Clean Food Group's mission is to be part of the solution to this environmental
crisis beginning with the production of its palm oil alternative.

The global palm oil market was valued at US$ 50.6 billion in 2021 and is
expected to reach US$ 65.5 billion by 2027. However, palm oil production
continues to be a major driver of deforestation of some of the world's most
biodiverse habitats, impacting critically endangered species like the
orangutan, pygmy elephant and Sumatran rhino. This process combined with the
conversion of carbon-rich peat soils, is releasing millions of tonnes of
greenhouse gases into the atmosphere, contributing to climate change.

Alex Neves, co-founder and CEO of Clean Food Group says: "We are delighted to
be partnering with Doehler Group, a leading manufacturer and innovator within
the area of technology-driven natural ingredients and ingredient systems.

With Doehler Group's support, we are excited to accelerate the scale-up of our
ground-breaking technology, which will allow us to bring our sustainable palm
oil alternative to market more quickly."

- Ends -

For further information on the Company please
visit:  www.seedinnovations.com (http://www.seedinnovations.com/)    or
contact:

 

 Ed McDermott       SEED Innovations Ltd         E:  info@seedinnovations.co (mailto:info@seedinnovations.co)

 Lance de Jersey
 James Biddle       Beaumont Cornish Limited,    T: (0)20 7628 3396

 Roland Cornish     Nomad
 Isabella Pierre    Shard Capital Partners LLP   T: (0)20 7186 9927

 Damon Heath        Broker
 Catherine Leftley  St Brides Partners Ltd,      E:  info@stbridespartners.co.uk (mailto:info@stbridespartners.co.uk)

 Isabelle Morris    Financial PR

 Max Bennett

 

Notes

Seed Innovations Ltd

SEED Innovations is an AIM quoted investment company focused primarily on
disruptive high growth life sciences and technology businesses particularly
within the medical cannabis arena. The Company's strategy is to identify
early-stage opportunities that have an upcoming investment catalyst and grow
its portfolio in terms of value whilst limiting the number of investee
companies to a level where relevant time can be devoted to each.

About Clean Food Group

Clean Food Group was co-founded by CEO Alex Neves and Co-Chairman Ed McDermott
in 2021, with the goal of becoming the leading independent UK cultivated food
ingredients business. CFG is a British based food Technology Company which
aims to become the leading independent UK cultivated food business. CFG are
developing a sustainable yeast technology that produces cultivated,
sustainable alternatives to palm oil and soy protein, two ingredients in food
and cosmetics with currently massive and still growing demand and negative
environmental impact. CFG has gathered a knowledgeable board of directors and
an experienced advisory team which familiarity with both biotechnology, life
sciences and high-growth industries.

Having acquired the IP for a technology platform that produces a
bio-equivalent palm oil alternative using microbial fermentation from the
University of Bath in Q1 2022, Clean Food Group has secured a 2-year
collaboration with the university to scale the technology and bring its palm
oil alternative to market.

About Doehler Group:

Doehler is a global producer, marketer and provider of technology-driven
natural ingredients, ingredient systems and integrated solutions for the
global food, beverage and nutrition industry. Doehler is all about mastering
multi- sensory performance and nutrition. Being Sustainable by nature®, we
help to nourish the world better - good for people, good for planet®.

All our ingredients are derived from natural raw materials. Doehler's
comprehensive product portfolio of natural ingredients ranges from natural
flavours, natural colours, natural health ingredients, a broad range of
plant-based ingredients to ingredient systems and end-to-end solutions.
Focused on science, technology and innovation, we shape the future of
nutrition.

Our customers are at the heart of all we do and are the reason why we exist.
With more than 45 production sites, 75 offices and application centres,
Doehler creates value for customers in over 160 countries. More than 8,500
dedicated employees, including 1,000 people in R&D and technology, are
committed to making our customers successful.

"WE BRING IDEAS TO LIFE." describes Doehler's integrated and entrepreneurial
approach to innovation. This also includes innovation services, market
intelligence, advice on food safety and microbiology, as well as sensory &
consumer science. Doehler also runs its own venture unit with more than 85
active ventures. Smart ideas have a way of becoming great products.

Every day, millions of people around the world enjoy products created by
Doehler.

This information is provided by Reach, the non-regulatory press release distribution service of RNS, part of the London Stock Exchange. 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/)
.

Reach is a non-regulatory news service. By using this service an issuer is confirming that the information contained within this announcement is of a non-regulatory nature. Reach announcements are identified with an orange label and the word “Reach” in the source column of the News Explorer pages of London Stock Exchange’s website so that they are distinguished from the RNS UK regulatory service. Other vendors subscribing for Reach press releases may use a different method to distinguish Reach announcements from UK regulatory news.

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  NRAQLLFBLLLXFBK