RANCHO SANTA MARGARITA, Calif.— Sweegen, the wellness ingredient innovator, announced its strategic investment and partnership snapshot ahead of the FI Europe 2022, where it exhibited zero sugar solutions in immersive food experiences, displaying consumers’ favorite foods and beverages with zero sugar solutions, and won the Food Tech Innovation Award in Paris. Sweegen was awarded for its novel bioconversion process for the production of Bestevia Reb M, the first new stevia ingredient produced via a new production technology approved for use in the European market by the European Food Safety Authority (EFSA).
In the wake of the 2022 company developments of major customer launches, a growing global footprint, and regulatory approvals on its sweeteners and stevia technology, Sweegen is attracting major partners and moving forward with additional growth capital raised from current shareholders, Pasaca Capital and Sumitomo Chemical Co. (Sumitomo), reaching the “unicorn” status.
“Our growth is meaningful in the world of sweetener innovation as we are bringing wellness solutions to food and beverage brands and consumers in new global regions where sugar reduction is not only a major health trend and need but also a movement for a wellness lifestyle,” said CEO Steven Chen. “We’re grateful that these shareholders continue to have confidence in our vision to open new markets with our global regulatory plans and explore exciting wellness technologies for food and beverages.”
Sweegen’s Bestevia Reb M was the first new-generation stevia technology to receive approval from the European Food and Safety Authority (EFSA).
This landmark approval in 2021, combined with the approval of the regulatory framework for steviol glycosides by the international food safety authority CODEX in 2022, is opening new markets and creating significant opportunities for Sweegen’s customers to launch new products.
The world’s largest food and beverage producers, including top brands for beverage (non-alcoholic and alcoholic), condiment, dairy, and plant-based products, have entered into commitments, contracts, and purchase orders with Sweegen.
With Sumitomo, Sweegen entered into a strategic alliance in which Sumitomo will contribute one of its manufacturing factories in Asia to a joint venture between the two companies.
Sumitomo will assist in quality assurance and quality control at both the Asian facility and Sweegen’s manufacturing site in Europe.
“Our manufacturing alliance with an exceptional partner like Sumitomo gives Sweegen’s customers the added security and benefit of multiple production facilities and is expected to accelerate Sweegen’s market penetration greatly,” said Steven Chen.
In addition to the industry’s widest range of non-GMO better tasting Signature stevia ingredients, Sweegen is introducing more advanced sugar-reducing products, such as the sweet proteins Ultratia™ brazzein and thaumatin.
Sweegen’s disruptive peptide technology enables industrial-scale production of brazzein for great cost savings to CPG customers. The commercialization of brazzein has already begun, and Sweegen anticipates a first regulatory approval for the product in 2023.
Thaumatin is 100,000 times sweeter than sugar on a molar basis. The high sweetness factor can translate into a strategic, cost-effective sugar reduction solution for brands seeking to get the most out of natural sweeteners. Sweegen has recently announced the successful scale-up production of these high-intensity sweeteners, and the company expects to receive regulatory approval in the near future.
The global sugar market is currently at $160 billion. Many global food and beverage companies are currently incorporating Sweegen’s products to replace artificial sweeteners, reduce sugar, and launch branded products containing these Sweegen products.
About Sweegen
Sweegen provides sweet-taste solutions for food and beverage manufacturers around the world.
We are on a mission to reduce sugar and artificial sweeteners in the global diet. Partnering with customers, we create delicious zero-sugar products that consumers love. With the best modern sweeteners in our portfolio, such as Bestevia Rebs B, D, E, I, M, and N, and sweet proteins brazzein and thaumatin, along with our deep knowledge of flavor modulators and texturants, Sweegen delivers market-leading solutions that customers want, and consumers prefer. Well. Into the Future.
For More Information:
https://sweegen.com/newsroom/sweegen-announces-growth-capital-investments-manufacturing