REG - Seed Innovations Ltd - Clean Food Group Update: Strategic Collaboration

Seed InnovationsAnnouncement

08/08/2023 07:00

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RNS Number : 5656I  Seed Innovations Limited  08 August 2023

08 August 2023

 

SEED Innovations Limited

 

("SEED" or the "Company")

 

Investee Company Update: Clean Food Group

Strategic Collaboration with Alianza Team

 

SEED Innovations Ltd, the AIM-quoted company investment company providing
shareholders with exposure to early-stage health, wellness and medical
cannabis companies to which, in normal circumstances, they have limited access
to, is pleased to note an announcement by its portfolio company, Clean Food
Group ('CFG').

 

 

Commenting on the collaboration, Ed McDermott, CEO of Seed said:

 

"It is very exiting that CFG, which is at the forefront of food innovation,
has added another respected food industry partner to its list of investors.
CFG's mission ethos is to provide healthier, sustainable, and competitively
priced functional oils and fats solutions to the world's food and cosmetics
manufacturers. We see this investment and collaboration as another key enabler
towards this mission, one that aids CFG's near term growth aspirations; to
deliver scale of its bio equivalent food oils such as Palm oil."

 

Prior to this capital raise SEED owned 5,850,000 ordinary shares in Clean
Food Group representing 5.4% and it intends to participate in the current fund
raise.

The following announcement is set out without material changes or adjustments
and the announcement in full can be accessed from the following link:
https://cleanfood.group/ (https://cleanfood.group/)

Start of CFG's announcement:

 

UK food-tech business Clean Food Group announces strategic collaboration with
LATAM food technology specialist, Alianza Team

Collaboration includes investment in Clean Food Group's current funding round
and will accelerate market availability of healthy and sustainable oils and
fats products for global food manufacturers

London, 08 August 2023, Pioneering UK-based bio-tech business Clean Food Group
is pleased to announce a new investment and strategic collaboration with
Alianza Team, the Latin American food production and lipid-based technology
expert, a leading company in the world of lipids, nutrition and frozen bakery.

The long-term collaboration agreement will accelerate Clean Food Group's
pathway to commercialisation and will combine Clean Food Group's expertise in
the production of microbial oils with Alianza Team's 75 years' experience and
expertise in developing functional, value-add oils and fats products for the
world's leading food manufacturers. Together, Clean Food Group and Alianza
Team will develop, and bring to market, products which meet the industry's
need for sustainable, functional and cost competitive oils and fats to replace
commonly used and agriculturally intensive food ingredients.

As part of the strategic collaboration, Alianza Team is investing in Clean
Food Group's current "Pre series A" funding round.  The funding round, which
is being supported by both new and existing investors, is expected to close in
August 2023.  Capital raised from this funding will enable Clean Food Group
to accelerate the scale up of its technology platform whilst advancing
critical regulatory and commercial pathways. Clean Food Group expects to
complete a Series A funding in 2024, by which time the business will have
validated technology at a commercial scale and have clear line of sight to
near term revenue generation. The business will raise funds at Series A to
support the build out of a commercial scale manufacturing facility.

Clean Food Group's technology platform is the result of eight years of
pioneering research led by Professor Chris Chuck, Technical Lead at Clean Food
Group. The proprietary technology platform uses proven, scalable yeast strains
and fermentation technology and uses food waste as its food source, to deliver
sustainable alternatives to traditional oil and fat ingredients.

Clean Food Group Co-founder and CEO Alex Neves says "We are delighted to be
sharing the news of this investment and collaboration with Alianza Team today.
The investment is further validation of Clean Food Group's technology platform
and is a key component in enabling the company to proceed to a successful
close of our current funding round. The strategic collaboration with Alianza
Team will drive forward our commercialisation strategy and support our
objective to bring sustainable oils and fats on to the market, at commercial
scale, within the next three years."

Luis Botero, President and CEO at Alianza Team says - "Alianza Team is
committed to creating a new future of healthy and sustainable food choices for
our customers. We are excited to be investing in and collaborating with Clean
Food Group, an organisation where we believe our shared core values of
innovation and sustainability will deliver healthier, more nutritional foods
to improve our food systems for future generations."

 End of CFG's announcement

- Ends -

 

 

 

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

 

  Ed McDermott        SEED Innovations Ltd             E: 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

 Ana Ribeiro          Financial PR

 Isabelle Morris

 

This announcement contains inside information for the purposes of Article 7 of
the Market Abuse Regulation (EU) No. 596/2014, as it forms part of UK Domestic
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

 

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 is a UK-based food-tech business delivering sustainable oils
and fats solutions to the world's food and cosmetics manufacturers, with the
mission to deliver scalable, healthier, competitively priced ingredients that
have a positive impact on the economic, environmental, and social health of
the planet.

Clean Food Group is founded by a team with key experience in growing bio-tech,
food industry and retail businesses supported by established venture capital
and family office investors with a track record supporting fast-growth
start-up companies in highly regulated industries. Clean Food Group's
proprietary technology platform has been developed as a result of 8 years
pioneering research by Professor Chris Chuck, technical lead at Clean Food
Group, and the University of Bath.

About Alianza Team

Alianza Team is a multinational leader in the lipid, nutrition and frozen
bakery sector, with over 75 years of experience. With operations in Colombia,
Mexico, Chile and the United States, it stands out for its extensive expertise
in the development of innovative products, services and technological
solutions. Committed to generating value and making a difference in the
market, they have four key business units: Team Solutions, Team Foods, Team
Caribe and BredenMaster. Their commitment with social, economic and
environmental sustainable development shows how they are fulfilling their
higher purpose of Nurturing a Better Tomorrow.

 

 

 

 

 

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