Eevia Lands First Order for Side Stream Product c. KSEK 342 (KEUR 30)
Eevia Health PLC ("Eevia" or "The Company") received the first sales order from a new pilot customer for two of its liquid sugar concentrates, which are side streams from the berry extract production. The order was for c. KEUR 30 in revenue.
At Eevia, sustainability is at the core of our operations. Since last year, we have been working diligently to valorize our various side streams from the production of berry extracts. We have earlier reported sales of other side streams, such berry powders, and some low-concentration powders. Another significant side stream from the berry extract production is liquid sugars and organic acids.
Eevia constantly seek innovating to reduce waste. During the production of one berry batch of, say, 9-10 tons, Eevia will get c. 100 kg extract. However, in parallel, the manufacturing process also yields almost 10 tons of a liquid that contains c. 10% berry sugars, organic acids, and other compounds. This volume of liquids has until recently been discarded to the waste stream due to the high volume. It is not a desired component in the wastewater by the municipal authorities, as it creates Biological Oxygen Demand in the wastewater treatment plant. However, Eevia has now successfully tested concentrating this volume of liquid up to a level of 65% solids (dry matter) and offered this for sale. Eevia has named this new product Liquid Sugar Concentrate.
After much effort, we have identified and agreed with a pilot customer, who has qualified the samples we have sent and will receive the first commercial shipment this week of approximately eight tons of Bilberry Liquid Sugar concentrate and two tons of Tart Cherry Liquid Sugar concentrate. The revenue will be c. KEUR 30, although we are not being utterly exact on the figures for competitive reasons.
The customer, a North European operator of berry products, berry juices, juice concentrates, and purees, is headquartered in Benelux, but has operations in multiple countries. The product they receive will be sold to food manufacturers to replace corn sugars in bilberry and other jams and purees, creating a more authentic product.
“This is quite a big breakthrough for Eevia, which will significantly impact our product profitability on berry extracts. So far, these volumes have been going to wastewater and have been only costs for us. With these efforts, we will be able to create revenues with low effort and low additional costs. Furthermore, the pilot customer was already impressed with the samples' quality and indicated readiness to take several hundred tons per year. For every 1,000 tons of berries we consume for extract manufacturing, we will be able to produce 100-150 tons of the liquid sugar concentrates,” says Petri Lackman, Eevia’s CTO, who secured the first sale for Eevia.
For further information, please contact:
Stein Ulve, CEO, Eevia Health Plc
Email: stein.ulve@eeviahealth.com or investor@eeviahealth.com
Telephone: +358 400 22 5967
This disclosure contains information that EEVIA HEALTH PLC is obliged to make public according to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on August 27, 2024, at 11:20 CET.
INFORMATION ABOUT EEVIA HEALTH PLC
Eevia Health Plc, founded in March 2017, addresses significant health problems with bioactive compounds extracted from plant materials. The materials are primarily wild harvested from the pristine Finnish and Swedish forests near or above the Arctic Circle. The extracts are sold B2B as ingredients in dietary supplements and food brands globally, and these global brands utilize the ingredients in their consumer product formulas.
Eevia Health is a manufacturer of 100% organically certified plant extracts. Although a significant product, Elderberry extract, is made from cultivated berries, most of Eevia's other raw materials, such as bilberry, lingonberry, chaga-mushroom, and pine bark, are wild-harvested sustainably.
Eevia Health operates a modern green-chemistry production facility in Finland. Manufacturing natural ingredients near the raw material harvest areas, Eevia offers a short value chain with an environmentally friendly carbon footprint, competitive pricing, and extreme transparency. In June 2021, Eevia listed its shares on the Spotlight Stock Market in Sweden under the short name (ticker) EEVIA.
To learn more, please visit www.eeviahealth.com or follow Eevia Health on LinkedIn@EeviaHealth.
