AgriFORCE Growing Systems completes acquisition of manufacturing IP from Manna Nutritional Group
by CM Staff
The Company has also completed the engineering work for small-scale manufacturing and has begun preparation for planned production in Saskatchewan, Canada.
VANCOUVER — AgriFORCE Growing Systems Ltd., an intellectual property (IP)-focused AgTech company trying to advance sustainable cultivation and crop processing, announced it has completed the previously announced acquisition of the intellectual property of Manna Nutritional Group (MNG). The IP encompasses patent-pending technologies to naturally process and convert grain, pulses and root vegetables, resulting in low-starch, low-sugar, high-protein, fiber-rich baking flour products, as well as other products. The core process is covered under a pending patent application in the U.S. and key international markets.
Independent lab testing reportedly indicates that MNG’s soft white wheat baking flour contains over 30 times the fiber, 3 times the protein, and more than 80% less starch than conventional flour. The Company’s initial focus is on wheat, in which the flour has applications for baked goods, breads and snacks.
As further announced earlier this year, the Company is on track to pilot test its first branded product in the specialty flour category under the brand un(Think) Foods with businesses and consumers later this year.
The Company has also completed the engineering work for small-scale manufacturing and has begun preparation for planned production in Saskatchewan, Canada, with initial operations expected to commence in second half of 2022.
“We are excited to close on the acquisition of the MNG intellectual property, as it allows us to launch innovative consumer products that leverage our broad industry expertise and expanding multinational footprint,” said AgriFORCE CEO Ingo Mueller. “We have been working aggressively behind the scenes since first announcing the planned acquisition and look forward to launching our first product later this year. In addition to our own branded products, we are in discussions with food manufacturers to private label a variety of consumer products. We believe these products address a multi-billion dollar, underserved market in the all-natural flour, bakery and snack categories. Moreover, this acquisition is aligned with our broader strategy of leveraging our IP to meet the growing demand for healthy, delicious, and nutritious foods”.
Dr. Stu Gordon, Board Member of Manna Nutritional Group, explained, “AgriFORCE is an ideal partner as they bring broad international capabilities and relationships across the industry to accelerate the commercialization of the MNG IP. The extensive market research conducted by AgriFORCE further validated the consumer demand for nutritious, high fiber, high protein low carbohydrate food products that do not compromise on taste consumers expect.”
