TIDMFIPP
Frontier IP Group plc
14 June 2021
Reach - a non-regulatory announcement
AIM: FIPP
14 June 2021
Frontier IP Group Plc
("Frontier IP" or the "Group")
Portfolio news - Nandi Proteins appoints David Flower, former
Managing Director, Europe, for Singha beer maker Boon Rawd as Chief
Executive Officer
Frontier IP, a specialist in commercialising intellectual
property, today announces that portfolio company Nandi Proteins
("Nandi" or the "Company") has appointed David Flower as Chief
Executive Officer. David is the former Managing Director, Europe,
for Singha beer maker the Boon Rawd Brewery Company. He was
previously Managing Director Home Baking for Kerry Foods.
David joins Nandi at an important stage. The Company is scaling
up its first commercial products to create a wide range of
customised ingredients based on vegetable and animal proteins.
These functional proteins can be used to replace undesirable
ingredients, such as fat, gluten and E-number additives in
processed foods, or those that people do not want to consume -- for
example, replacing animal proteins with vegetable proteins.
The Company has gained significant industrial traction and is
collaborating with major companies on several applications,
including:
-- vegetable proteins to replace egg whites and xanthan gum n
gluten-free products to improve their taste and texture. Nandi is
leading a project in collaboration with one of the world's biggest
ingredient companies, AB Mauri, and Origin Enterprises, part of
Agrii to develop this technology
-- vegetable proteins to replace egg whites in mycoprotein-based
meat alternatives, turning vegetarian products into vegan
products
-- vegetable proteins to replace chemical binders in plant-based alternative meats
-- proteins to replace chemical emulsifiers in baked products
-- animal proteins to replace fat in processed meats
The technology is a suite of novel processes and process control
technology to control very precisely the way proteins denature,
consisting of hardware to sit in food manufacturing lines and
software.
David has also been a Managing Director at Noon Foods and
Commercial Director for Dairy Crest.
He is a non-executive director at Jack & Bry, which is
developing jackfruit-based meat-free pepperoni pizza toppings,
burgers and sausages.
In September last year, Nandi announced it had successfully
raised GBP720,000 in a convertible loan, including GBP360,000
investment from the UK government's Future Fund, matched by
GBP320,000 from Frontier IP and GBP40,000 from Shackleton Finance
Limited. A more detailed explanation of its technology is
below.
David Flower, Chief Executive Officer of Nandi Proteins, said:
"I am delighted to be taking this leadership role for Nandi
Proteins at such crucial time in the Company's development. Against
a backdrop of increasing consumer awareness of how important a
healthy diet is and of the role of proteins within it, the Nandi
offering is very relevant. Be it gluten replacements, fat
substitutes, or others, Nandi's technology will become part of the
functional protein landscape."
Neil Crabb, Frontier IP Chief Executive Officer, said: "Nandi's
exciting technology has the potential to help solve some of the
pressing problems facing the food industry. We are delighted that
David, with his long and broad experience in the food industry, has
decided to join the Company to oversee its future success."
ENQUIRIES
Frontier IP Group Plc T: 020 7332 2338
Neil Crabb, Chief Executive neil@frontierip.co.uk
Andrew Johnson, Communications & Investor M: 07464 546 025
Relations
Company website: www.frontierip.co.uk
Allenby Capital Limited (Nominated Adviser) T: 0203 328 5656
Nick Athanas / George Payne
ABOUT NANDI'S TECHNOLOGY
Nandi's patented technology is based on the knowledge that the
functional properties of proteins change when they unfold
(denature). Controlled denaturation can be used to deliberately
change and control the protein functionality as an ingredient. The
Company is focused on two protein types:
-- globular proteins, where the molecules are folded into a
spherical shape, found in vegetables and dairy; and
-- spiral proteins, where long chains of molecules form spirals
or helices. They are found in meat.
In both cases, chemical bonds along the length of, and between
different portions of, the protein molecule keep the proteins in
their shapes.
Applying heat breaks the weak bonds allowing the proteins to
unfold. The structure of the protein that was previously 'inside'
the folded protein is now exposed. This allows it to interact with
its surroundings -- for example by binding onto water molecules --
enhancing functionality such as solubility and emulsifying
ability.
The unfolded structure also allows for new chemical bonds to
form between one protein to another. The result is that individual
protein molecules can become joined together to create a network
which will change functional properties such as thickening and
gelation abilities.
These denaturation processes are already widely used in food
ingredient processing and cooking. For example, an egg white
consists of globular proteins suspended in water. When you fry the
egg, the proteins unfold and create a mesh, which traps the water
molecules. The egg white solidifies. The challenge is in
controlling the process precisely. Cook the egg for too long, too
many protein bonds form, the net's mesh becomes too tight, and the
white becomes rubbery.
By controlling the heat applied and monitoring the unfolding
process extremely precisely, Nandi can precisely create protein
functionality that allows it to replace the functionality of fat
and additive molecules such as emulsifiers.
Nandi is capable of producing modified proteins from both
globular proteins (present in a wide range of naturally-occurring
foodstuffs, including whey, potato, soy and peas, as well as eggs)
and spiral proteins present in meat (Nandi is specifically
exploring the modification of collagen proteins).
Nandi achieves control of the unfolding process by using
chemistry and light-based systems to measure in real time a range
of key variables as heat is applied to proteins in solution. This
allows the Company to maximise their functional properties, such as
emulsification, solubility, acid stability, foaming, water binding
and gelation.
The company's technology includes proprietary sensor systems
which can be used across existing manufacturing processes to
control the variables and create functional proteins.
ABOUT FRONTIER IP
Frontier IP unites science and commerce by identifying strong
intellectual property and accelerating its development through a
range of commercialisation services. A critical part of the Group's
work is involving relevant industry partners at an early stage of
development to ensure technology meets real world demands and
needs.
The Group looks to build and grow a portfolio of equity stakes
and licence income by taking an active involvement in spin-out
companies, including support for fund raising and collaboration
with relevant industry partners at an early stage of
development.
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