|By Marketwired .||
|July 11, 2014 08:04 AM EDT||
LIBOURNE, FRANCE and PARIS, FRANCE -- (Marketwired) -- 07/11/14 -- Fermentalg (EURONEXT PARIS: FALG), an industrial biotechnology company that specializes in the production of oils and proteins derived from microalgae, and Sofiprotéol, an industrial and finance company in France's vegetable oil and protein crop industry, have announced the signing of an agreement that marks a new phase in their partnership for the production and sale of Omega-3.
Following the discussions between Fermentalg and Sofiprotéol referred to in the Registration Statement filed by Fermentalg(1), the two companies have agreed upon a series of terms according to which:
- The joint programme's industrial processes and resources will now be managed by Fermentalg at its new Industrial Development Unit (IDU) which is scheduled to be commissioned at the end of 2015. Built to a capacity of 4x20m3, the IDU(2) will be used for the pilot development phases for Fermentalg programmes as well as for pre-sales and sales production;
- Oleon (a subsidiary of Sofiprotéol) will act as non-exclusive distributor for the products manufactured by Fermentalg at the IDU;
- the sale of Proléalg shares means that Fermentalg now owns 65% of the capital of the joint venture with Sofiprotéol;
- Fermentalg and Sofiprotéol could envisage the production and/or commercialization by Proléalg of other molecules of interest beyond those initially planned (EPA and DHA).
Proléalg will be fully consolidated within Fermentalg. Any revenue generated during the pilot phase will be booked directly by Fermentalg.
For Pierre Calleja, Founder and Chairman and CEO of Fermentalg: "Thanks to the funds raised by the IPO that have been set aside for this project, we will have an industrial unit that has 4 times the capacity of the one initially planned by the joint venture. The partnership programme with Sofiprotéol will therefore be managed directly from our site. I am delighted with this new phase in our non-exclusive collaboration which will not only allow us to harness our capacity to sell our Omega-3 rich oils around the world, but also broaden our horizons in the industrial exploitation of microalgae."
For Jean-Philippe Puig, CEO of Sofiprotéol: "This agreement and the industrial resources and capacity currently under development by our partner that it brings with it will enable Sofiprotéol to pursue its rapid development on today's Omega-3 markets."
Founded in 2009 by Pierre Calleja, Fermentalg is an industrial biotechnology company that specializes in producing sustainable oils and proteins derived from the exceptional properties of microalgae. Its patented technology allows it to target a range of fast-growing global markets, from nutrition and animal feed to cosmetics and health, green chemistry and energy. Fermentalg has already signed its 1st industrial and commercial joint-venture for the production of Omega-3 oils rich in EPA and DHA as well as several other partnerships with leading industrial groups. Fermentalg shares are listed on Euronext in Paris (FR0011271600 - FALG). For more information, visit the Fermentalg website at: www.fermentalg.com
Sofiprotéol is an industrial and financial company in the oilseed and proteins sector. Its purpose is to create sustainable value in the oilseed and protein sectors, making a contribution to a better diet for human beings and to protecting the planet. The agribusiness activities of Sofiprotéol are organized in two divisions: the Oilseed Division (crushing and oil refining, oil refining and packaging for food, production of biodiesel, oleochemistry) and the Animal Division (animal nutrition, hygiene, biosecurity, feed specialties and food products: pork, poultry and eggs). The company also has financial activities as a development bank: in 2013, it provided support via loans and acquisitions of minority stakes in no fewer than 140 companies in the sector. Sofiprotéol recorded 2013 sales of EUR 7 billion and has 8,240 staff in some 20 countries. Website: www.sofiproteol.com
(1) Section 4.2.7, page 22 of the Registration Statement filed with the French market authority, the Autorité des marchés financiers (AMF), on 14 March 2014 under No. I.14-040.
(2) Section 6.8, page 118 et seq. of the Registration Statement.
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