Clean Food Group Update: Strategic Collaboration

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/

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   or contact: 

Ed McDermott  Lance de Jersey	SEED Innovations Ltd	E: [e-mail]
James Biddle  Roland Cornish	Beaumont Cornish Limited,  Nomad	T: (0)20 7628 3396
Isabella Pierre  Damon Heath	Shard Capital Partners LLP  Broker	T: (0)20 7186 9927
Catherine Leftley  Ana Ribeiro Isabelle Morris	St Brides Partners Ltd,  Financial PR	E: [e-mail]

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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