Seed Innov Regulatory News (SEED)

28 November 2023 

SEED Innovations Limited

("SEED" or the "Company")

Investee Company Update: Clean Food Group

Clean Food Group and Roberts Bakery Partner to Pioneer Bread Waste Reduction

SEED Innovations Ltd, the AIM-quoted company investment company providing shareholders with exposure to early-stage health, wellness and medical cannabis companies, to which, in normal circumstances, they have limited access to, is pleased to note the partnership agreement with Roberts Bakery announced by its investee company Clean Food Group Ltd ("Clean Food Group" or "CFG"), a UK-based food-tech business delivering sustainable oils and fats solutions to the world's food and cosmetics manufacturers. 

SEED owns 7,161,336 ordinary shares in CFG representing 5.4% of CFG on a fully diluted basis.

The following announcement is set out without material changes or adjustments and the announcement in full can be accessed from the following link: : https://www.prnewswire.co.uk/news-releases/clean-food-group-and-roberts-bakery-partner-to-pioneer-bread-waste-reduction-in-the-baking-industry-301998181.html?tc=eml_cleartime

Start of CFG's announcement:

· The novel partnership between Clean Food Group and Roberts Bakery will see bread product waste transformed into valuable oils and fats

· Roberts will be the first bakery in the UK to validate the use of factory bread waste in the production of sustainable oils

· The companies aim to establish a circular, sustainable ecosystem to address the challenges of the strained food system in the UK

LONDON, Nov. 28, 2023 /PRNewswire/ -- The pioneering UK-based bio-tech business Clean Food Group, today announces its groundbreaking partnership with Roberts Bakery, one of the UK's leading bakery brands. The first of its kind partnership will see Clean Food Group transform surplus bread products into sustainable consumable oils. This collaboration marks a significant step forward as both companies aim to address the pressing issue of food waste.

The partnership will focus on utilising Roberts Bakery's surplus bread as a feedstock for Clean Food Group's proprietary fermentation technology. Waste bread is a significant concern to producers and retailers, with studies finding that nearly one million tons of bread are lost from the supply chain each year1. This innovative process will convert the discarded bread into valuable oils and fats, showcasing the potential of circular economy principles within the food industry.

The investigation is currently in the trial phase; in the future, the ambition for this partnership is to create a circular ecosystem. In this process, Roberts will be able to use the glucose syrup and oils created by their own surplus bread supply, in their own bread and biscuits.

Professor Chris Chuck, Co-founder at Clean Food Group, who has been the pioneering force behind the technology platform, said: "We're seeing some great results from our early trials, irrespective of what the bread is, our yeast can use not just the whole carbohydrate fraction but the protein and microelements present as well. This all-in-one feed, gives us a real advantage over using more complex media, in both performance and sustainability."

Will Harrop, Head of Sustainability and the Environment at Roberts, said: "This partnership with Clean Food Group is an important one for us here at Roberts. We are committed to optimising the environmental and social impact of our business and part of this is reducing the impact of food waste, working towards our goal of Net Zero and supporting our Deforestation and land use change plan. This partnership with Clean Food Group is also a wonderful opportunity to investigate new ways to reduce the impact of our food waste in the production of new oils and fats that have a positive impact on the environment."

Clean Food Group is focused on scaling its technology, advancing the regulatory pathways associated with bringing sustainable oils and fats to market, and working closely with a range of commercial partners.

Clean Food Group Co-founder and CEO Alex Neves, said: "This is an exciting time for Clean Food Group and we're delighted to be working with Robert's Bakery on this first of its kind partnership. We're entering a new era for oils and fats, one where we can address the biggest concerns in modern food production, from limiting wasted food sources and creating more nutritionally advanced food while reducing the environmental impact of traditional ingredients."

End of CFG's announcement

- Ends -

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Notes 

Seed Innovations Ltd 

SEED Innovations is an AIM quoted investment company focused primarily on disruptive high growth life sciences and technology businesses particularly within the medical cannabis arena. The Company's strategy is to identify early-stage opportunities that have an upcoming investment catalyst and grow its portfolio in terms of value whilst limiting the number of investee companies to a level where relevant time can be devoted to each. 

About Clean Food Group

Clean Food Group is a UK-based food-tech business delivering sustainable oils and fats solutions to the world's food and cosmetics manufacturers, with the mission to deliver scalable, healthier, competitively priced ingredients that have a positive impact on the economic, environmental, and social health of the planet.

Clean Food Group is founded by a team with key experience in growing bio-tech, food industry and retail businesses supported by established venture capital and family office investors with a track record supporting fast-growth start-up companies in highly regulated industries. Clean Food Group's proprietary technology platform has been developed as a result of 8 years pioneering research by Professor Chris Chuck, technical lead at Clean Food Group, and the University of Bath.