Carbiotix starts evaluation project with Nordic contract manufacturing company that produces plant based dairy alternatives
Carbiotix (publ) ("Carbiotix" or "Company") announces today that the Company has started a ninemonth evaluation project with a Nordic contract manufacturing company that produces plant based dairy alternatives. The initial evaluation study conducted in the first quarter of 2022 demonstrated positive results to produce CarbiAXOS from a side-stream fibre product in the production of plant based dairy alternatives. This project will therefore evaluate, in detail, the technical and economic feasibility of scaling up CarbiAXOS production using the same fibre. The project will serve as a business case for the contract manufacturing company and also for other global plant based dairy alternative manufactures looking for more value adding applications for their side-stream fibre products in the production.
Kristofer Cook, CEO of Carbiotix, comments
"I am very excited to announce this evaluation study and look forward to constructing our first business case for utilising side-stream fibre products from plant based dairy alternative manufacturing as a complementary starting material to corn fibre. I have previously communicated that we will continuously evaluate different fibre sources as a means to hedge against the risk of corn bran supply disturbances, embrace sustainability in the local supply and distribution of products, broaden our product portfolio, and explore different business models and partners.
The global plant based dairy alternative market is expected to reach 25 Billion USD in the next five years. Notable companies in this market include Swedish-based Oatly, US-based Coca Cola Company, France-based Danone, Swiss-based Nestlé and Belgium-based Alpro, as well as numerous contract manufactures. The growth in this market will ensure that side-stream fibre volumes continue to grow over time, a potential and untapped opportunity from our perspective.(1)
Fibre is today a side-stream product in the production of plant based dairy alternative products and is typically sold by manufactures as an animal feed or to the production of other lower end food applications. Producing a higher-end prebiotic ingredient from this fibre utilising our patented technology is a much more appealing and interesting application for these side-stream products from a societal health, sustainability and financial perspective. Demonstrating a viable business case for the fibre in question will not only allow Carbiotix to potentially generate value through this potential partner but also allow the Company to begin exploring other business opportunities from side-stream fibres generated from a global list of plant based dairy alternative companies.”
This is information that Carbiotix AB is obliged to make public according to the EU Market Abuse Regulation (MAR). The information was made publicly available by the Company’s contact person set out below on 30 March 2022.
Forward-looking statements
This communication contains forward-looking statements, consisting of subjective assumptions and forecasts for future scenarios. Predictions for the future only apply as of the date they are made and are, by their nature, as is research and development work in the biotechnology segment, associated with risk and uncertainty. With this in mind, the actual outcome may deviate significantly from the scenarios as described in this press release.
For further information:
Carbiotix AB
Kristofer Cook, CEO
Tel: +46 (0)708-796580
E-mail: kristofer.cook@carbiotix.com
Carbiotix AB (CRBX) (www.carbiotix.com) is an award-winning biotechnology company pioneering microbiome healthcare through a range of cost-effective gut health testing services and a portfolio of microbiome modulators covering prebiotic ingredients, medical foods and therapeutics.