RANCHO SANTA MARGARITA, Calif., June 27, 2017 /CNW/ -- SweeGen Inc., a nature-based sweetener company announced today the conclusion of a framework agreement for the purpose of supplying a leading energy drink company in China, with definitives pending Chinese regulatory approval. Entering the Chinese market with its stevia-based sweetener gives SweeGen access to one of the largest consumer markets in the world.
According to Mintel in their article published on August 25th, 2016, the global energy drink category reached 8.8 billion liters in 2015 with China showing the greatest growth with an impressive 25% increase in sales. The top countries in the energy drink category are the US with 3.3 billion and China with 1.4 billion liters (Mintel) in 2015. Innovation has been a driving force in energy drinks and SweeGen's Bestevia™ Reb-M, a healthier non-caloric sweetener, is expected to drive energy drinks in China to a new height.
Steven Chen, SweeGen's CEO stated, "With a population of over one billion and an increased health awareness, the Chinese market was one of our company's most important strategic targets. The introduction of our Bestevia™ Reb-M will help the Chinese consumers reduce calories while enjoying its amazing sugar-like taste." SweeGen's Bestevia™ Reb-M was favorably accepted by such leading Chinese energy drink company after its rigorous trials and market tests in China. The sweetener is intended to be used in a new product line of energy drinks as soon as regulatory approval in China is completed.
SweeGen's Bestevia™ Reb-M, a unique stevia-based sweetener, received the FDA's Letter of No Objection in February, 2017 confirming this sweetener as a food ingredient that can be used in a variety of food products. Regulatory compliance in China and other world markets is currently underway to provide access of this sweetener to consumers world-wide.
SweeGen (OTC: SWEE) is dedicated to the development, production and distribution of non-caloric sweeteners for the food, flavor and beverage industries. SweeGen's robust product pipeline, intellectual property portfolio, and dedicated manufacturing capacity and R&D provide the Company its foundation for innovation and delivery of high-quality sweeteners. For more information please contact [email protected] and visit SweeGen's website, www.sweegen.com.
This press release contains forward-looking statements including statements regarding the future outlook and performance of SweeGen, Inc., and other statements based on current management expectations, estimates and projections. These statements are subject to a variety of risks and uncertainties, are not guarantees and are inherently subject to various risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. These risks and uncertainties include, without limitation, those that may be discussed from time to time in the company's filings with the Securities and Exchange Commission. The forward-looking statements included in this news release are only made as of the date of this release, and SweeGen, Inc. disclaims any obligation to publicly update any forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
SOURCE SweeGen, Inc.