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The RTO was an interesting opportunity and worth investigating, but the decision is clear. Eevia can now put full attention and resources to its new strategic business plan, which the newly elected Board endorsed on November 6 and now has re-endorsed. The immense opportunities and prospects of Eevia’s Arctic polyphenol products within the gut health and adjacent health areas constitute a path to significant revenue growth and value creation for our Company.
Stein Ulve, CEO of Eevia Health
Polyphenols such as proanthocyanidins can play a huge role in human health. Polyphenols have been marginalized as a component in our modern processed food compared to what our ancestors would take in through a more plant-heavy diet. We aim to compete by providing health solutions consumers can benefit from with the highest-quality polyphenol extracts and blends in the market.
Erik Eide, Eevia's Commercial Director
We are extremely excited to welcome Dr. Clayton to the Board of Directors of Eevia Health. She has already advised us on gut health strategies, and we have experienced the wealth of knowledge and personal network she has that is directly relevant to the business plans we have for Eevia.
Stein Ulve, Eevia's CEO
It is necessary for Eevia Health to receive external non-dilutive funding to progress the Retinari™ project, which is a game-changing eye health prophylactic, towards market launch. Eevia is working to secure other supplemental funding options, including commercial partners, to strengthen the initiation of the safety study. Other than funding, we are immediately ready to proceed with the project. The product has huge societal, individual, and commercial impact potential.
Stein Ulve, Eevia's CEO
We see a spike in the interest for Feno-Chaga organic, and it is a product with good profitability for us, so we are especially pleased to see conversion to sales orders for this SKU. Dietary supplements based on mushrooms are growing fast in key markets. Various agencies estimate 10 to 15% growth (CAGR 2025 -2030) for mushroom-derived products. Chaga is known as the “King of Mushrooms". Feno-Chaga is one product we have conducted a human clinical trial on with interesting results for stress management and sports performance.
Anna-Maija Vanhatalo, Customer Service Manager
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
Petri Lackman, Eevia's CTO
I’m grateful for the vote of confidence in our Company from our current and new investors. The rights issue funds are essential pillars in our financial growth plan. Eevia plans to take advantage of several great market opportunities. The board and the management team focus on our financial targets and revenue growth. I look forward to communicating our progress with you going forward.
Stein Ulve, CEO at Eevia
I’m grateful for the vote of confidence in our Company from our current and new investors. The rights issue funds are essential pillars in our financial growth plan. Eevia plans to take advantage of several great market opportunities. The board and the management team focus on our financial targets and revenue growth. I look forward to communicating our progress with you going forward.
Stein Ulve, CEO at Eevia
I’m grateful for the vote of confidence in our Company from our current and new investors. The rights issue funds are essential pillars in our financial growth plan. Eevia plans to take advantage of several great market opportunities. The board and the management team focus on our financial targets and revenue growth. I look forward to communicating our progress with you going forward.
Stein Ulve, CEO at Eevia
First-order sales of new products are milestones. It is a significant start sale for our tart cherry product, which we expect will open the gates for other brands. It is a long-sought win with an extremely fastidious customer. The customer is excited about the quality and strength of this product. One can see the difference in quality from competitor’s products with the naked eye – our product's dark, vibrant red color exudes potency.
Erik Eide, Commercial Director of Eevia Health
This opportunity will provide scientific substantiation on our ingredient funded by our partner and a global sales and distribution reach for this ingredient. The partnership has interesting growth potential for Eevia’s revenues from 2025 onward without major expenses by Eevia in 2024 or 2025. By outsourcing this ingredient's clinical substantiation, marketing, sales, and distribution, Eevia Health can focus its limited resources on other extract products in its portfolio and, for this ingredient, supporting our partner on the supply chain and manufacturing. Our partner will be able to scale up the sales volume of this product, which will benefit our overall revenue growth.
Stein Ulve, CEO
One step at a time we move towards addressing a significant global health problem. This is a big step with potential for significant business revenue growth and societal impact.
Erik Eide, Eevia's Commercial Director
This is an important sale and an indication of our potential. After a lengthy sales process, Eevia has established a new, larger and sophisticated customer who will increase our distribution and visibility in the market. A great win for our Team
Erik Eide, Commercial Director
By being in this ecosystem led by Valio, Eevia could identify possible applications for our products and side streams in food and beverage sector. We expect this partnership to open new, interesting avenues for our future R&D activities as well.
Petri Lackman, CTO
"We are very happy to see our Australian distributor succeed in this product group and pleased to see that our European Elderberry extracts succeed in competition with other less bioactive extracts in the Far Eastern markets."
Stein Ulve, CEO
The BioMAP comparison of our pine bark extract against the market leader is compelling and confirms that our product is nearly identical in vitro bioactivity to the market leader. Substantiating bioactivity in human primary cells can support sales traction and order updates from the marketplace.
Stein Ulve, CEO of Eevia Health
We achieved remarkable results on our eye-health ingredient in the Eurofins BioMAP in-vitro assay system employing over 140 biomarkers. The data strengthened the case for possible clinical efficacy in maintaining homeostasis of Retinal Pigment Epithelium cells (RPE cells) in the human eye. This brings us closer to the market launch of a novel and effective pre-treatment for macular degeneration to a EUR 5 billion eye-health segment utilizing Finnish circular raw materials and pharmacology competencies to drive an ophthalmologic health innovation that provides eye health protection, improves patient care outcomes, and reduces costs to the health system.
Petri Lackman, Chief Technical Officer
We were in 2022 criticized by some investors for offering too little information related to sales orders, so we lowered the threshold to KEUR 10. Lately, we have been criticized for informing about too small orders. After contemplating this, we have raised the threshold to KEUR 50 for informing about sales orders.
Stein Ulve, CEO
The BioMAP study provided unique bioactivity data on our key extracts, which strengthen our competitive position in selected nutraceutical segments.
Stein Ulve, CEO
This opportunity fits our strategy to build the business on our basic ingredients, while we develop proprietary novel prophylactic nutritional solutions addressing significant global health problems.
Erik Eide, Eevia's Commercial Director
Eevia had a transformative 2023 where we broadened our customer base and laid the foundation for strong growth in the years to come. The credit line provides for short-term working capital to continue with our strategic focus on expanding the business.
Stein Ulve, Chief Executive Officer
Although we were in contact some years ago, before Covid, we see this as the first order from this customer. Although the order is small, we are excited, because the contract manufacturer serves several large brands, and our pine bark extract has the potential to compete well. The customer is excited in general about our polyphenol products, and we expect further orders during 2024.
Anna-Maija Vanhatalo, Sales Manager at Eevia Health
It is the first order from this customer. Although the order is small, we are a bit excited, because the business came via one very well-known independent product formulator, who is kind of an “industry influencer”, and who formulates products for several large brands. We first met him in Las Vegas in October 2023, so the sales cycle was not that long. He is excited about our polyphenol products and may include our ingredients in products for other brands.
Anna-Maija Vanhatalo, Sales Manager at Eevia Health
This project is a welcome opportunity for Eevia to lock in significant revenues for 2025, and potentially for 2026 and 2027. This and similar opportunities we have in our pipeline provide traction towards achieving our long-term revenue target of EUR 25 million
Stein Ulve, Eevia's CEO
We are excited to get these orders because it is a promising start to the marketing and sale of our side stream products. It constitutes a welcome upcycling development which will impact our profitability and further our industry-leading sustainability status.
Anna-Maija Vanhatalo
The ability to offer FOB prices from New Jersey will make Eevia more competitive in the North American market. It will support our partners in North America to improve our value proposition in terms of rapid response and reliability of supply, while we reduce logistical costs.
Erik Eide
We are happy to do the “maiden shipment” under this new supply-chain arrangement. We believe keeping buffer stock in the US with ready imported materials with all certificates issued including the USDA NOP certificate for organic products, will provide better customer service and improved ability to serve smaller orders.
Anna-Maija Vanhatalo, Customer Service Manager, Eevia Health Plc
We warmly welcome Erik to this new role. His strong experience in solution sales and nutraceuticals in the international environment, has led to success in his previous roles. Erik brings a deep understanding of how companies work on operational and executive levels, and how to create value for customers. He will contribute significantly to the success and global growth of Eevia and we are extremely pleased with him joining our team.
Stein Ulve, CEO of Eevia Health Plc
The post-covid market is evolving and we are adapting. We have now significant interest in the North American market
Stein Ulve, CEO
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