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.
8 October 2024
SEED
Innovations Limited
("SEED"
or the "Company")
Investee
Company Update: Clean Food Group
Clean
Food Group partners with THG LABS to transform cosmetics
industry
SEED Innovations Ltd, the AIM-quoted
investment company offering exposure to disruptive, high-growth, life sciences
and technology ventures typically inaccessible to everyday
investors, is pleased to note an announcement from its investee company Clean Food
Group Ltd ("Clean Food Group" or "CFG"), a UK-based food-tech
business delivering sustainable oils and fats solutions to the
world's food and cosmetics manufacturers, with regards to its
partnership with THG LABS, a UK-based global cosmetics product
developer and manufacturer for world-leading beauty
brands.
SEED's decision to invest in CFG was
driven by the quality of its proprietary, CleanOilCell™, technology
platform, which uses proven, scalable, non-GMO yeast strains and
food waste as its food source to deliver sustainable alternatives
to traditional oil and fat ingredients. This coupled with the
excellent management team, huge market potential and green
credentials were pivotal factors in investing.
SEED owns 7,161,336 shares in CFG
representing 4.6% of CFG on a fully diluted
basis.
Commenting on the announcement, Alfredo Pascual, Director of
Investment Research at SEED, said: "We are delighted to see the partnership between Clean Food
Group and THG LABS, a leading end-to-end service UK cosmetics
manufacturer, come to fruition. This collaboration could
significantly impact the cosmetics sector by introducing innovative
and sustainable oil alternatives, helping to reduce the industry's
reliance on environmentally harmful ingredients like traditionally
agriculturally intense oils. With the global cosmetics market
valued at circa US$374 billion in 2023 and projected to nearly
double by 2032, this partnership is well timed to meet the growing
demand for sustainable solutions."*
The following announcement is set
out without material changes or adjustments and the announcement in
full can be accessed from the following link: Clean Food Group Partnership
Clean Food Group partners
with THG LABS to harness the power of
cutting-edge oils and fats
technology powered by food waste, to drive
innovation and sustainability
in the cosmetics industry
8th
October 2024: Pioneering UK-based
bio-tech business Clean Food Group is pleased to announce an
exciting strategic partnership with leading cosmetics product
development and manufacturer THG LABS to create revolutionary new
raw materials, starting with a low impact, high-performance oil,
for use in beauty and personal care products.
Providing the cosmetics industry
with more sustainable, effective, and responsible bio-equivalent
alternatives to commonly used, more agriculturally intensive
ingredients, the partnership will see the transformation of food
waste into new and valuable resources for the cosmetics
industry.
This collaboration leverages the
expertise of THG LABS Innovation and R&D teams, drawing on
their extensive insight from over 30 years of experience in
creating award-winning skincare, haircare and suncare, as the
manufacturing partner of choice for world-leading beauty brands.
Their support will guide the innovation and directly influence the
cosmetic product pipeline.
Professor Chris Chuck, Technical Lead, Clean Food Group
said "We are delighted to be
collaborating with THG LABS, as a leading innovator and
full-service manufacturer in the cosmetics industry. With the help
of THG LABS, we are excited to bring to market a range of
science-led cosmetics and personal care products that put
sustainability at their core."
Kristal Goodman, Head of Product Innovation, THG LABS
said "Building on THG LABS passion
for biotech and commitment to a more sustainable future, we are
thrilled to be collaborating with Clean Food Group on a new era of
innovation in sustainability. We're constantly challenging
ourselves to improve the environmental impact of our products, not
only within the manufacturing facility but also in the supply chain
of our raw materials."
The genesis for the partnership came
after eight years of pioneering research led by Professor Chris
Chuck, Technical Lead at Clean Food Group. The proprietary
technology platform uses proven, scalable non-GMO yeast strains and
fermentation technology and harnesses bread waste as its food
source, to deliver sustainable alternatives to traditional oil and
fat ingredients.
"The work carried out by Professor
Chris Chuck and his team has inspired a journey to explore the full
potential of Clean Food Group's revolutionary technology, with the
Innovation team at THG LABS championing this project and helping to
drive progress with more sustainable solutions for the cosmetics
industry," said Goodman.
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: info@seedinnovations.co
|
|
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
|
|
Ana Ribeiro
Isabel de Salis
|
St Brides Partners
Ltd,
Financial PR
|
E: seed@stbridespartners.co.uk
|
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, founded by a team
with key experience in growing biotech, food industry and retail
businesses, is backed by established venture capital and family
office investors with track records in 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 THG LABS
THG LABS is a UK-based global
cosmetics product developer and manufacturer for world-leading
beauty brands across skincare, suncare, haircare, body care, and
fragrance. With expertise in Innovation, R&D, Packaging
Development, Design, Process and Production, THG LABS' end-to-end
service project management offers clients support and solutions at
every stage of the product journey.
*Source:
https://www.fortunebusinessinsights.com/cosmetics-market-102614