Solarvest Enters First Supply Agreement for its Organic Omega-3 Products for Human Nutraceutical Use
March 17, 2014 (Source: Marketwired) — SOLARVEST BIOENERGY INC. (TSX VENTURE:SVS) (“Solarvest”) announces that its operating division, Solarvest (P.E.I.) Inc., has signed a Memorandum of Understanding for the supply of its organic Omega-3 products to the Canadian human nutraceutical market. The MOU provides for a two year exclusive supply agreement, which may be extended an additional year if certain supply volume conditions are met.
Solarvest and this development/distribution partner will begin immediately to work together to develop premium organic nutraceuticals for the Canadian market. This collaboration will focus each partner’s strengths; Solarvest’s unique organic process to derive organic Omega-3 products from algae, coupled to a substantial distribution network and a recognized brand.
Solarvest’s partner has become the leader in this market segment and has made a commitment to seek out products that are produced in a sustainable and environmentally positive manner. Solarvest’s 100% organic/chemical free products and production seamlessly align with these objectives and the rapidly growing natural products market.
About The Omega-3 Market:
The Omega 3 nutraceutical and food enhancement market has grown substantially since early in the 2000’s. The total market, in all forms, including human and animal health is reported to be 13 billion dollars globally and forecasted to be approximately 7 billion in the United States by 2015. The health benefits of marine based Omega 3 fatty acids including coronary heart disease prevention has been generally recognized and has led to these substantial consumption levels. Vegetarian, vegan and organic diets tend to be low in Omega 3s. Solarvest intends to meet this market need with a premium organic Omega 3 product line which, for the first time, will provide the opportunity for food processors to enhance and consumers to supplement, their respective products and diets.
About Solarvest BioEnergy:
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Solarvest BioEnergy Inc. is an algae technology company whose algal-based production platform provides it with an extremely flexible system capable of being adapted to produce clean energy in the form of hydrogen and health products such as Omega oils in an economic and environmentally sensitive manner.
The TSX Venture Exchange has neither approved nor disapproved the contents of this news release.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
The 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 Solarvest’s expectations and projections.
Raj Shah has professional experience working for over a half a dozen years at financial firms such as Merrill Lynch and First Allied Securities Inc., ... <Read more about Raj Shah>