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LONDON and COPENHAGEN, Denmark, March 31, 2023 (Reuters) /PRNewswire/
Unibio International PLC, the leading sustainable protein company, is pleased to announce that Saudi Industrial Investment Group (“SIIG”), one of the first privately held petrochemical companies in the Kingdom of Saudi Arabia, has entered into an agreement to invest approximately 70… million US dollars (£59 million) in Unibio. Proceeds will be used to realize Unibio’s vision to sustainably feed the world‘s growing population. Unibio will use the funds to build new global manufacturing capacity, expand operational capacity and accelerate of innovation and commercialization.
Improving global food security
Through industrial protein production based on Unibio’s unique fermentation technology – the U-Loop® technology – it is possible to improve food security and feed the growing world population in a sustainable way, without taking up arable land and with low water consumption. The fermentation technology mimics a process that occurs in nature every day and uses methane (e.g. natural gas or biogas) as a feedstock. The production of Uniprotein® is efficient, stable and unaffected by weather variations that affect the production of traditional protein sources.
Uniprotein® is approved for animal feed in the European Union and approval processes are ongoing worldwide. The protein offers equal or better nutritional value than other high-quality proteins such as B. fish meal, and has already been successfully tested on various water and animal species. Uniprotein® is pesticide-free, fully traceable and non-GMO. Uniprotein® is marketed commercially and has met with great interest from compound feed manufacturers and animal and fish farmers worldwide. Production of Unibio’s protein for direct human consumption is under development.
David Henstrom, CEO of Unibio, commented:
“We are pleased to welcome SIIG as a significant investor in Unibio. Your investment will enable us to play a pivotal role in meeting our customers’ sustainable protein needs. Unibio’s technology will improve food security and accelerate the process of feeding the world sustainably. We are pleased that SIIG shares our goal of ensuring food security for the growing world population and helping to end hunger (#SDG2) and we look forward to working together, to accomplish this goal.
Herr Abdulrahman S. Alismail, CEO der Saudi Industrial Investment Group, added added:
“We are very pleased to invest in Unibio and see the company as very well aligned with SIIG’s new strategy of diversifying its investments, entering new sectors with a focus on sustainability and new technologies, and developing partnerships with international companies. Unibio’s focus aligns with Saudi Arabia’s commitment to increase domestic protein production and support food security through innovation and technology. We are investing in Unibio for the long term and we believe that by doing so we will contribute to a more diverse and sustainable economy.”
The investment in Unibio will be disbursed in two tranches: the first tranche of approximately US$25 million (£21 million) will be disbursed now, the second subject to the appropriate FDI approvals. BofA Securities acted as placement agent for Unibio in connection with the transaction.
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