Botaneco Partners with Multinational Nutrition Company and signs new Supply Agreement
QUEBEC, Aug. 23, 2012 /CNW/ - Botaneco Corp. ("Botaneco") (TSX-V:BOT), a leading natural specialty ingredients company providing key ingredients to the food and personal care industries, today announces that it has partnered with a multi-billion dollar international nutrition company. Under the terms of a twelve-month partnership, Natunola Health Inc., a subsidiary of Botaneco, will work with this new partner to process and deliver approximately 1,000,000 pounds of flax per year.
The unique technology employed yields a functional flax ingredient that allows our partner to claim a combination of the patent-pending functional properties of the flax together with an excellent concentration of Omega-3 oil. This, together with the ingredient's extended shelf life stability, allows for a competitive marketing advantage over other flax ingredients, especially as Omega-3 oil has well publicized health benefits and is considered an essential nutrient.
"Botaneco has significant capabilities to extract high value, sustainable, and stable ingredients from all parts of the seed, offering significant competitive advantages." stated Michelle Scarborough, CEO of Botaneco. "Working with this new partner provides an opportunity to expand that capability and meet the ever increasing market opportunities for flax in food and nutritional segments of the global market. We are delighted to partner with this international nutrition company and look forward to further developing our relationship with them."
The total dollar amount of the business is in excess of CDN $1,000,000 and both parties agree to negotiate a new term 60 days before the twelve-month period concludes.
Processing will occur at Natunola's 40,000 square foot plant in Winchester, Ontario with the ability to expand the facility should demand for this unique proprietary flax product increase.
About Botaneco Corp.
Botaneco Corp is a world leader in the development of natural specialty ingredients and technologies that meet tomorrow's needs, today. The Company's true expertise is turning Mother Nature's energy source, the Seed, into high value proprietary ingredients sold into food and personal care products worldwide. Headquartered in Calgary, Alberta, the company operates two state of the art manufacturing sites in Alberta and Ontario with a robust research and development capability. The Company has developed, patented and commercialized a suite of technologies, and has over 200 customers today. The company has been awarded the Canadian Agri-Food Award of Excellence for its flaxseed technology marketed in the natural food industry. Botaneco holds patents for its Hydresia Oleosome, Vegetable Oil Gel, Whey Protein and Flaxseed De-hulling technology.
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SOURCE: Botaneco Corp.For further information:
Kevin Richardson, PhD
President & CEO