Investee Company Update: Clean Food Group
Portfolio company Clean Food Group acquires one million litre fermentation facility in Liverpool to accelerate commercialisation.
- SEED ownership in CFG 7,161,336 shares (4.6% fully diluted)
- Fermentation facility capacity one million litre
- Facility location 12-acre Liverpool site
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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 the announcement by its portfolio company, Clean Food Group ("CFG"), of the acquisition of a one million litre fermentation plant (the "Acquisition") from Algal Omega 3 Ltd (In Administration) for an undisclosed sum.
The Acquisition and resultant initial associated costs of the plant will be funded from CFG's existing cash resources and will provide CFG with a 12-acre Liverpool facility, offering extensive R&D resources and significant opportunity for future expansion.
This announcement follows news earlier in the month that CFG secured regulatory approval for its CLEAN Oil™ 25 product as a cosmetic ingredient in the United Kingdom, Europe, and the United States.
SEED owns 7,161,336 shares in CFG representing 4.6% of CFG on a fully diluted basis.
CFG's full announcement can be accessed here: https://cleanfood.group/news.
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