Unibio International PLC has confirmed that privately-owned petrochemical company Saudi Industrial Investment Group (SIIG) has signed an agreement to invest approximately US$70 million in the Danish protein tech company.
Using its own fermentation technology, called “U-Loop”, Unibio is producing “Uniprotein”. The technology which has been scaled-up to an industrial scale and is being rolled out globally, uses methane, such as natural gas and biogas as feedstock.
The funds will be used to roll-out new global production capacity, grow operating capabilities, and accelerate innovation and commercialisation.
“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 (#SDG2) and we look forward to working together to make it happen, Unibio CEO David Henstrom said.
Available as a powder or as pellets, Uniprotein is approved for feed in the European Union and global registrations are in progress. According to Unibio, the single-cell 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. It is free from pesticides, fully traceable, and non-GMO.
The company added that Uniprotein is attracting significant global interest from feed compound companies and animal and fish farmers, and that the production of Unibio’s protein for direct human consumption is under development.
SIIG CEO Abdulrahman S Alismail said the investment in Unibio is 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.
“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,” he said.
The investment in Unibio will be paid in two tranches: the first tranche of approximately $25 million is paid now with the second subject to applicable Foreign Direct Investment approvals.
BofA Securities acted as placement agent to Unibio in connection with the transaction.
