April 11, 2023

 

Saudi group to invest US$70 million in sustainable protein company Unibio

 

 

Unibio International PLC, a sustainable protein company, announced that the Saudi Industrial Investment Group (SIIG) has signed an agreement to invest approximately US$70 million in the company.

 

The proceeds will be deployed to enable Unibio's vision of feeding the world's growing population in a sustainable way. The company will use the funds to roll-out new global production capacity, grow operating capabilities and accelerate innovation and commercialisation.

 

Through industrial protein production based on Unibio's unique fermentation technology, the U-Loop® technology, it is possible to improve food security and feed the world's growing population in a sustainable way without use of arable land and with low water usage, Unibio said. The fermentation technology mimics a process that occurs in nature every day and uses methane as feedstock.

 

The production of Uniprotein® is efficient, stable, and independent of weather deviations that impact the production of traditional protein sources, Unibio added.

 

Uniprotein® is approved for feed in the European Union and global registrations are in progress. The protein provides nutrition on par with or better than other high-quality proteins, such as fishmeal, and has been tested successfully in various aqua and animal species.

 

Uniprotein® is also free from pesticides, fully traceable and non-GMO. Having been launched commercially, Uniprotein® is attracting significant global interest from feed compound companies and animal and fish farmers.

 

David Henstrom, chief executive officer of Unibio, said: "We are delighted to welcome SIIG as a significant investor in Unibio. Their investment will enable us to play a pivotal role in meeting our customers' need for sustainable protein. Unibio's technology will improve food security and speed up the process of feeding the world in a sustainable way. We are pleased that SIIG shares our ambition of providing food security for the world's growing population and helping stop hunger and we look forward to working together to make it happen."

 

Abdulrahman S. Alismail, CEO of the Saudi Industrial Investment Group, said: "We are extremely pleased to invest in Unibio and see it as strongly aligned with SIIG's new strategy to diversify its investments, enter new sectors focused on sustainability and new technologies and develop partnerships with international companies. Unibio's focus aligns with Saudi Arabia's commitment to (increase) domestic protein production and supporting food security through innovation and technology. We are investing in Unibio for the long-term and believe that, by doing so, we will contribute to a more diverse and sustainable economy."

 

The investment in Unibio will be paid in two tranches: the first tranche of approximately US$25 million has been paid with the second subject to applicable Foreign Direct Investment approvals. 

 

BofA Securities acted as placement agent to Unibio in connection with the transaction.

 

- Unibio