RCS - Moolec Science SA - Moolec Science Acquires Food Ingredient Capability

Moolec Science SaAnnouncement

11/04/2023 13:30

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RNS Number : 8472V  Moolec Science SA  11 April 2023

 Moolec Science Acquires Food Ingredient Capabilities to Consolidate
Molecular Farming Technology

LUXEMBOURG / ACCESSWIRE / April 11, 2023 / Moolec Science SA (NASDAQ:MLEC;
"Company"; "Moolec"), a science-based food ingredient company focused on
producing animal proteins in plants through Molecular Farming, announced today
the acquisition of plant-based food ingredient capabilities dedicated to the
production and commercialization of functional soy proteins. This will help to
accelerate Moolec's growth in the food ingredients industry by expanding its
commercial network with a top-notch sales team and complementing its Molecular
Farming Platform with industrial capacity, downstream operations, and a highly
experienced team of professionals.

Related Images
(https://cdn.newswire.com/files/x/e2/e6/74a3f0dbfb0c4413d395f7cdcf2a.jpeg)

"This strategic decision accelerates our business plan's execution by
combining existing commercial and manufacturing capabilities in different
geographies, with the deep-science approach of our Molecular Farming Platform.
As a result, Moolec is well-positioned to accelerate its sales ramp ahead of
schedule starting in the 2023/2024 period with estimated revenues in the range
of $6 million," said José López Lecube, Moolec Science's Chief Financial
Officer.

These Food Ingredient Capabilities resulting from the integration of ValoraSoy
include state-of-the-art industrial facilities with a processing capacity of
10,000 tons strategically located in one of the main Argentine soybean
corridors; a team of technicians, engineers, agronomists, and plant-based
professionals; and commercial channels in more than 14 countries on three
different continents. Soy-based protein ingredients are manufactured using
several extrusion technologies and processes which yield ingredients with
texture and fibrousness similar to meat. These solutions are utilized in
several end products such as hamburgers, sausages, and other plant-based
products in the traditional and alternative food industries, industrially and
commercially complementary with Moolec's Molecular Farming pipeline.

Henk Hoogenkamp, Chief Product Officer and co-founder of Moolec,
declared, "We believe plant-based technologies and Molecular Farming taken
together have the power to contribute towards global food security. Moolec is
developing the plant-proteins of the future by using highly efficient
high-protein crops, in this case soybeans, to produce a wide variety of
proteins naturally found in animals. Combining these crops with ValoraSoy's
capabilities, we can accelerate our technology rollout but also specifically
target certain solutions by incorporating real-time feedback from existing
customers around the globe. Leveraging this position, we can consolidate our
Molecular Farming platform and lower the cost of protein-rich foods as we
drive functionality, nutrition, and affordability for the up-and-coming
economies of the world," he finished.

The transaction contemplates acquiring 100% of ValoraSoy in exchange for $6
million, of which ~$2.5 million is paid in cash, and the rest is paid with
Moolec's shares in three years based on vesting and business metrics. Pursuant
to the share purchase agreement, the Company will retain a portion of the
purchase price for a period of 12 months after signing of the transaction
documents. The payment in shares is subject to vesting and the achievement of
business milestones over a period of three years.

Moolec will give a Business Update in Mid-May to review the overall progress
of the Company and the most recent events. For more information on
ValoraSoy, click here (https://pr.report/vDljhCca) .

About Moolec Science SA

Moolec is a science-based food ingredient company focused on producing animal
proteins in plants through Molecular Farming, a disruptive technology in the
alternative protein landscape. Its purpose is to upgrade the taste, nutrition,
and affordability of alternative protein products while building a more
sustainable and equitable food system. The Company's technological approach
aims to have the cost structure of plant-based solutions with the organoleptic
properties and functionality of animal-based ones. Moolec's technology has
been under development for more than a decade and is known for pioneering the
production of a bovine protein in a crop for the food industry. The Company's
product portfolio and pipeline leverages the agronomic efficiency of broadly
used target crops, like safflower, soybean, and pea. Moolec has a growing
international patent portfolio (23, both granted and pending) for its
Molecular Farming technology. The Company is run by a diverse team of Ph.Ds
and Food Insiders, and operates in the United States, Europe, and South
America. For more information, visit www.moolecscience.com
(https://pr.report/AFlW7htH) .

Forward-Looking Statements

This press release contains "forward-looking statements." Forward-looking
statements may be identified by the use of words such as "forecast," "intend,"
"seek," "target," "anticipate," "believe," "expect," "estimate," "plan,"
"outlook," and "project" and other similar expressions that predict or
indicate future events or trends or that are not statements of historical
matters. Such forward-looking statements with respect to performance,
prospects, revenues, and other aspects of the business of Moolec Science S.A.
("Moolec") are predictions, projections and other statements about future
events that are based on current expectations and assumptions and, as a
result, are subject to risks and uncertainties. Although we believe that we
have a reasonable basis for each forward-looking statement contained in this
press release, we caution you that these statements are based on a combination
of facts and factors, about which we cannot be certain. We cannot assure you
that the forward-looking statements in this press release will prove accurate.
These forward-looking statements are subject to a number of significant risks
and uncertainties that could cause actual results to differ materially from
expected results, including, among others, changes in applicable laws or
regulations, the possibility that Moolec may be adversely affected by
economic, business and/or other competitive factors, costs related to the
scaling up of Moolec's business and other risks and uncertainties, including
those included under the header "Risk Factors" in the Form F-1 Registration
Statement filed with the U.S. Securities and Exchange Commission ("SEC"), as
well as Moolec's other filings with the SEC. Should one or more of these risks
or uncertainties materialize, or should any of our assumptions prove
incorrect, actual results may vary in material respects from those projected
in these forward-looking statements. We undertake no obligation to update or
revise any forward-looking statements, whether as a result of new information,
future events or otherwise, except as may be required under applicable
securities laws. Accordingly, you should not put undue reliance on these
statements.

Contact Information

Catalina Jones

Chief of Staff & Sustainability
comms@moolecscience.com (mailto:comms@moolecscience.com)

Martín Taraciuk

Investor Relations
ir@moolecscience.com (mailto:ir@moolecscience.com)

Michael Bowen

ICR, LLC
moolecir@icrinc.com (mailto:moolecir@icrinc.com)

Related Files

Moolec Science Acquires Food Ingredient Capabilities To Consolidate Molecular
Farming Technology - 2023.04.11.pdf (https://pr.report/yKbPLurl)

SOURCE: Moolec Science

 

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