DGAP-News: NextFerm Technologies Ltd.
NextFerm Technologies Announces First Commercial Purchase Order of ProteVin(TM) in the US
2021-07-26 / 16:03
The issuer is solely responsible for the content of this announcement.
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NextFerm Technologies (TASE:NXFR), a food-tech company developing ProteVin(TM), a vegan, yeast-based, non-GMO protein
alternative and other innovative yeast-based nutrients, announced that it has received first commercial Purchase Order
for ProteVin(TM) from a US customer.
The Purchase Order, of USD70K, was received from PrimaLife Nutrition, a new brand aiming to be the first to launch a
vegan sports protein powder based on ProteVin(TM) in the US and to provide athletes for the first time with a vegan
formula with nutritional value similar to whey protein powder and excellent taste.
This Purchase Order marks the achievement of a second out of three milestones set by the company for 2021 according to
its strategic plan for commercialization of ProteVin(TM) in 2022. In light of the progress with a number of potential
customers, the company expects to receive additional Purchase Orders for ProteVin(TM) by the end of 2021.
On the production side, the company is currently in dialogues with several potential subcontractors in the food
industry and is progressing as planned towards engagement with a subcontractor by the end of 2021.
Boaz Noy, Chief Executive Officer of NextFerm, said, 'We are happy to announce of the receipt of first commercial
Purchase Order for Protevin(TM) by PrimaLife Nutrition LLC, an emerging vegan-based sports' nutrition brand from
Florida. This order represents the achievement of yet another important milestone for commercialization Protevin(TM) by
2022, earlier than anticipated, and serves as a great vote of confidence in our technology and the benefits it has to
the end consumers. In light of our progress with other potential customers, we expect to receive additional orders in
the coming months as we advance towards engagement with manufacturing sub-contractor before the end of this year.'
Walter Ross, Owner of PrimaLife Nutrition, said, 'I intend to promote Protevin(TM) through multiple channels, including
digital campaigns as well as traditional brick and mortar stores. As someone who has received education and
certifications in Sports Nutrition and Personal Training, I see great value in Protevin(TM) due to its high degree of
sustainability and complete amino acid profile. Having a single-ingredient, environmentally friendly, and complete
protein, with digestibility comparable to whey, makes Protevin(TM) a perfect solution. I also believe its
flavor-neutral profile and a shelf-life similar to current market categories make implementing the technology and
creating a demand feasible,' Mr. Ross concluded.
About NextFerm Technologies
NextFerm Technologies, traded on the Tel Aviv Stock Exchange (TASE:NXFR) is a food-tech company engaged in the
research, development, manufacturing and marketing of innovative, functional and vegan yeast-derived, non-GMO protein
alternatives for various applications in the food and food supplement markets and the growing market for animal-derived
protein alternatives.
NextFerm's flagship product is ProteVin(TM), a vegan, yeast-derived protein alternative with nutritional value that is
similar to animal-derived protein and a neutral flavor, with no aftertastes that are typical of plant-based protein.
ProteVin(TM) is designed for a variety of categories in the alternative protein market, which is estimated at USD13
billion, with an annual growth rate of 10%, including milk and dairy substitutes, meat substitutes and additional
categories such as infant nutrition, adult nutrition, and sports nutrition. NextFerm is gearing up for
commercialization of the product in the US in 2022.
Another product currently being sold is Astaferm(R), an innovative astaxanthin-based antioxidant derived from yeast
that has been sold in the US since the end of 2020 through well-established and leading brands in the food supplement
market in the US.
The company has additional products which have been licensed to Lallemand, a global giant focused on yeast.
For more information, visit the NextFerm website at: www.nextferm.com
Legal Notice Regarding Forward-Looking Statements
This announcement also includes forecasts, projections, assessments, estimates and other information which refer to
future events and matters, the realization of which is uncertain and not exclusively under the Company's control
(forward-looking information). The main facts and data used to support this information are facts and data regarding
the current position of the Company and its businesses (including the scope of sales and levels of profitability,
manpower, commercial engagements and more), facts and data regarding the current global position of the Company's
operating segments (including industry-specific financial developments, environmental regulatory developments, the
competitive environment, technological developments, the reinsurance market and more), and macro-economic facts and
data (including the economic situation both in Israel and around the world, yields in the capital markets, social and
state developments and more), all as known by the Company when publishing this announcement. The forward-looking
information included above in this announcement is significantly based upon, in addition to the existing information
held by the Company, on the Company's current assessments and expectations of future developments vis-a-vis each one of
the aforementioned parameters, and the interconnectedness of each one of these developments. The Company has no
certainty that its forecasts and assessments will indeed eventuate, and the Company's operating results may be
materially different than the results assessed or implicit based on that set forth above, inter alia, as a result of a
change in any of the aforementioned factors.
Contact Details
Nextferm Technologies Ltd.
Yossi Ohana - Chief Financial Officer
+972 54-771-5893
yossio@nextferm.com
Investor and Media contact
Meirav Gomeh-Bauer
+972 54-476-4979
meirav@bauerg.com
Company Website
https://www.nextferm.com/
News Source: News Direct
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2021-07-26 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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Archive at www.dgap.de
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Language: English
Company: NextFerm Technologies Ltd.
United States
EQS News ID: 1221703
End of News DGAP News Service
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July 26, 2021 10:03 ET (14:03 GMT)
