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Dec 05, 2022 • 3 days in the past • 4 minute learn
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Momentum from international regulatory approvals and prospects’ product launches drives robust valuation and funding demand.
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Rancho Santa Margarita, Calif., Dec. 05, 2022 (GLOBE NEWSWIRE) — Sweegen introduced its strategic funding and partnership snapshot forward of the FI Europe 2022, the place it is going to exhibit zero sugar options in immersive meals experiences, displaying shoppers’ favourite meals and drinks with zero sugar options in Paris, France, Dec. 6-8.
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Within the wake of the 2022 firm developments of main buyer launches, a rising international footprint, and regulatory approvals on its sweeteners and stevia expertise, Sweegen is attracting main companions and transferring ahead with further progress capital raised from present shareholders, Pasaca Capital and Sumitomo Chemical Co. (Sumitomo), reaching the “unicorn” standing.
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“Our progress is significant on this planet of sweetener innovation as we’re bringing wellness options to meals and beverage manufacturers and shoppers in new international areas the place sugar discount shouldn’t be solely a significant well being pattern and wish but in addition a motion for a wellness life-style,” mentioned CEO Steven Chen. “We’re grateful that these shareholders proceed to trust in our imaginative and prescient to open new markets with our international regulatory plans and discover thrilling wellness applied sciences for meals and drinks.”
Largest CPG Firms as Clients
Sweegen’s Signature Bestevia® Reb M was the primary new-generation stevia expertise to obtain approval from the European Meals and Security Authority (EFSA).
This landmark approval in 2021, mixed with the approval of the regulatory framework for steviol glycosides by the worldwide meals security authority CODEX in 2022, is opening new markets and creating vital alternatives for Sweegen’s prospects to launch new merchandise.
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The world’s largest meals and beverage producers, together with high manufacturers for beverage (non-alcoholic and alcoholic), condiment, dairy, and plant-based merchandise, have entered into commitments, contracts, and buy orders with Sweegen.
Manufacturing Alliance
With Sumitomo, Sweegen entered right into a strategic alliance wherein Sumitomo will contribute considered one of its manufacturing factories in Asia to a three way partnership between the 2 firms.
Sumitomo will help in high quality assurance and high quality management at each the Asian facility and Sweegen’s manufacturing web site in Europe.
“Our manufacturing alliance with an distinctive companion like Sumitomo provides Sweegen’s prospects the added safety and advantage of a number of manufacturing services and is predicted to speed up Sweegen’s market penetration vastly,” mentioned Chen.
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New Applied sciences
Along with the trade’s widest vary of non-GMO higher, tasting Signature stevia substances, Sweegen is introducing extra superior sugar-reducing merchandise, such because the candy proteins Ultratia™ brazzein and thaumatin.
Sweegen’s disruptive peptide expertise allows industrial-scale manufacturing of brazzein for excellent price financial savings to CPG prospects. The commercialization of brazzein has already begun, and Sweegen anticipates a primary regulatory approval for the product in 2023.
Thaumatin is 100,000 occasions sweeter than sugar on a molar foundation. The excessive sweetness issue can translate right into a strategic, cost-effective sugar discount answer for manufacturers in search of to get essentially the most out of pure sweeteners. Sweegen has lately introduced the profitable scale-up manufacturing of those high-intensity sweeteners, and the corporate expects to obtain regulatory approval within the close to future.
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The Market
The worldwide sugar market is at present at $160 billion. Many international meals and beverage firms are at present incorporating Sweegen’s merchandise to exchange synthetic sweeteners, scale back sugar, and launch branded merchandise containing these Sweegen merchandise.
Contacts at FIE
On the FI Europe 2022 commerce truthful in Paris, Sweegen’s sales space will likely be at Stand #7.1D20, the place Sweegen’s administration and international meals and beverage purposes groups will welcome all meals and ingredient prospects and enterprise companions.
About Sweegen
Sweegen supplies sweet-taste options for meals and beverage producers around the globe.
We’re on a mission to cut back sugar and synthetic sweeteners within the international food regimen. Partnering with prospects, we create scrumptious zero-sugar merchandise that customers love. With the perfect trendy sweeteners in our portfolio, similar to Bestevia® Rebs B, D, E, I, M, and N, and candy proteins brazzein and thaumatin, together with our deep information of taste modulators and texturants, Sweegen delivers market-leading options that prospects need, and shoppers favor. Effectively. Into the Future.
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Ahead-Wanting Statements
This press launch contains “forward-looking statements” throughout the that means of the “protected harbor” provisions of the Personal Securities Litigation Reform Act of 1996. Sweegen’s precise outcomes might differ from the estimates, assumptions, and different illustrative materials contained herein, and consequently, a reader mustn’t depend on these forward-looking statements as predictions of future occasions. These forward-looking statements embody, with out limitation, illustrative info relating to Sweegen’s bottom-up assumed market potential, assumed hit charge, and the ensuing income based mostly on these mannequin inputs. These forward-looking statements contain vital dangers and uncertainties that might trigger the precise outcomes to vary materially from the anticipated outcomes.
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Business, Market, and Different Information
On this press launch, we depend on and discuss with info and statistics relating to market members within the sectors wherein Sweegen competes and different knowledge. We obtained this info and statistics from our personal inner estimates and third-party sources, together with stories by market analysis companies and firm filings. We don’t expressly refer to those sources. All of this info includes numerous assumptions and limitations, and the sources of such info can’t assure the accuracy or completeness of such info. The trade wherein Sweegen operates is topic to a excessive diploma of uncertainty and threat as a result of quite a lot of vital components, any of which might trigger outcomes to vary materially from these expressed within the estimates made by Sweegen or third events.
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