This initial offtake agreement has a term of three years and establishes commercial conditions for the delivery of GLASO in US territory with an initial estimated volume of 50 tons for 2025.
GLASO is a nutritional omega 6 oil obtained from bioengineered safflower seeds. With high-GLA (gamma linolenic acid) concentration, Moolec's product contains almost 3 times more GLA than conventional sources such as borage and primrose oil, making it the most concentrated GLA oil available on the market. GLA is widely recognized for its healthpromoting attributes and is primarily embraced as a valuable addition to various diets in the form of a dietary supplement, functional food, cosmetics, and animal nutrition such as pet food, main application targeted by this offtake Agreement.
'We are thrilled to announce this significant supply agreement for our GLASO nutritional oil product. This milestone, coupled with our new partnership for industrial toll processing, marks a pivotal step in our mission to deliver high-quality, innovative health solutions to our customers worldwide. It underscores our commitment to quickly scaling from small to large volume production and meeting the growing demand for sustainable nutritional ingredients,' said
Moolec's Molecular Farming Platform encompasses revolutionary technology enabling the production of high-quality ingredients, such as nutritional oils and proteins, in plants. The Company leads the industry in demonstrating that its technology can be scaled efficiently, affordably, and sustainably. This allows for ingredients to be designed that will offer significant cost-in-use reductions compared to traditional and cellular agricultural methods.
Note to reader: Due to the competitive nature of these agreements, and the fact that
About
Moolec is a science-based ingredient company leader in the use of Molecular Farming technology for food and dietary supplementation markets. The Company's mission is to create unique food ingredients by engineering plants with animal protein genes. Its purpose is to redefine the way the world produces animal proteins, for good and for all. Moolec's technological approach aims to have the cost structure of plant-based solutions with the nutrition and functionality of animal-based ones. Moolec's technology has been under development for more than a decade and is known for pioneering the production of a bovine protein in a crop for the food industry. The Company's product portfolio and pipeline leverages the agronomic efficiency of broadly used target crops, like soybean, pea, and safflower to produce oils and proteins. Moolec also has an industrial and commercial R&D capability to complement the company's Molecular Farming technology. Moolec secures a growing international patent portfolio (25+, both granted and pending) for its Molecular Farming technology. The Company is run by a diverse team of Ph.Ds and Food Insiders, and operates in
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This press release contains 'forward-looking statements.' Forward-looking statements may be identified by the use of words such as 'forecast,' 'intend,' 'seek,' 'target,' 'anticipate,' 'believe,' 'expect,' 'estimate,' 'plan,' 'outlook,' and 'project' and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. Such forward-looking statements with respect to performance, prospects, revenues, and other aspects of the business of Moolec are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Although we believe that we have a reasonable basis for each forward-looking statement contained in this press release, we caution you that these statements are based on a combination of facts and factors, about which we cannot be certain. We cannot assure you that the forward-looking statements in this press release will prove accurate. These forward-looking statements are subject to a number of significant risks and uncertainties that could cause actual results to differ materially from expected results, including, among others, changes in applicable laws or regulations, the possibility that Moolec may be adversely affected by economic, business and/or other competitive factors, costs related to the scaling up of Moolec's business and other risks and uncertainties, including those included under the header 'Risk Factors' in Moolec's Annual Report on Form 20-F filed with the
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