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(Alliance News) - Seed Innovations Ltd on Tuesday said its investee Clean Food Group announced a strategic collaboration with Alianza Team, a Latin American food production and lipid-based technology company.
Seed Innovations, a Guernsey-based wellness and life sciences company, positively noted the collaboration, with Chief Executive Ed McDermott saying that Clean Food "added another respected food industry partner to its list of investors".
Clean Food said: "The long-term collaboration agreement will accelerate Clean Food Group's pathway to commercialisation and will combine Clean Food Group's expertise in the production of microbial oils with Alianza Team's 75 years' experience and expertise in developing functional, value-add oils and fats products for the world's leading food manufacturers."
As part of the collaboration, Alianza Team is investing in Clean Food's current Pre series A funding round. Seed currently owns a 5.4% stake in Clean Food and intends to participate in the fundraise.
Seed Innovations shares fell 5.8% to 2.03 pence each on Tuesday morning in London.
By Tom Budszus, Alliance News reporter
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