TheNewswire - September 29 th 2020 - Solarvest BioEnergy Inc. ("Solarvest", or the "Company") (TSXV:SVS), is pleased to announce that it has produced its first commercial batch of proprietary organic Omega-3 powdered supplement, a global first. This production was completed using the Company's patented process and European contract manufacturers. The product is high in DHA (an essential nutrient), and is sustainable, plant-based, EU and USDA certified organic. The product has been reviewed and approved for interstate commerce by the United States FDA as a New Dietary Ingredient #861.
The Company will use the active ingredient powder to manufacture its Eversea TM brand of organic Omega-3 nutraceuticals which will initially be sold in North America and will also be made available as house branded products. The Company also intends to sell the supplement to organic food processors and marketers, such as baby food suppliers, to facilitate the development of enhanced patent-protected products. The Company also intends to pursue other premium animal applications such as high Omega-3 eggs, pet supplements and food.
Grand View Research estimates the size of the global Omega-3 market at USD 2.49 billion in 2019 and forecasts 7.7% annual growth, driven by rising penetration of Omega-3 in the active pharmaceutical ingredients market. The majority of Omega-3 is currently sourced from South American anchoveta and anchovy fisheries which cannot be certified as organic and are subject to the increasing concerns of ocean pollutants. The Company believes that its patented plant-based process offers unique competitive differentiation within the industry.
Solarvest BioEnergy Inc. is an algae biotechnology company whose production platform provides it with an extremely flexible system capable of producing numerous products from Omega 3 fatty acids to human therapeutic proteins. The company has successfully demonstrated the expression of BMP, a high value therapeutic protein, viral antigens (immune stimulating proteins), and Cecropins (antimicrobial peptide/protein). The company has initiated a program for the expression of CBD and THC to be produced in GMP fermentation facilities.
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Statements made in this news release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Company's expectations and projections.
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