{"id":124560,"date":"2022-12-06T05:00:58","date_gmt":"2022-12-06T05:00:58","guid":{"rendered":"http:\/\/pressarabia.qa\/?guid=ca18cd396b65b0fb5a0f3d10054059b4"},"modified":"2022-12-06T05:00:58","modified_gmt":"2022-12-06T05:00:58","slug":"sweegen-announces-growth-capital-investments-and-manufacturing-partnership-ahead-of-food-ingredients-europe-2022","status":"publish","type":"post","link":"https:\/\/pressarabia.qa\/sweegen-announces-growth-capital-investments-and-manufacturing-partnership-ahead-of-food-ingredients-europe-2022\/","title":{"rendered":"Sweegen announces growth capital investments and manufacturing partnership ahead of Food Ingredients Europe 2022"},"content":{"rendered":"
Rancho Santa Margarita, Calif., Dec. 05, 2022 (GLOBE NEWSWIRE) — Sweegen<\/a> announced its strategic investment and partnership snapshot ahead of the FI Europe 2022, where it will exhibit zero sugar solutions in immersive food experiences<\/a>, displaying consumers\u2019 favorite foods and beverages with zero sugar solutions in Paris, France, Dec. 6-8.<\/p>\n In the wake of the 2022 company developments of major customer launches, a growing global footprint, and regulatory approvals on its sweeteners and stevia technology, Sweegen is attracting major partners and moving forward with additional growth capital raised from current shareholders, Pasaca Capital<\/a> and Sumitomo Chemical Co.<\/a> (Sumitomo), reaching the \u201cunicorn\u201d status.<\/p>\n \u201cOur growth is meaningful in the world of sweetener innovation as we are bringing wellness solutions to food and beverage brands and consumers in new global regions where sugar reduction is not only a major health trend and need but also a movement for a wellness lifestyle,\u201d said CEO Steven Chen. \u201cWe\u2019re grateful that these shareholders continue to have confidence in our vision to open new markets with our global regulatory plans and explore exciting wellness technologies for food and beverages.\u201d<\/p>\n Largest CPG Companies as Customers<\/strong><\/p>\n Sweegen\u2019s Signature Bestevia\u00ae Reb M was the first new-generation stevia technology<\/a> to receive approval from the European Food and Safety Authority (EFSA).<\/p>\n This landmark approval in 2021, combined with the approval of the regulatory framework for steviol glycosides by the international food safety authority CODEX in 2022, is opening new markets and creating significant opportunities for Sweegen’s customers to launch new products.<\/p>\n The world\u2019s largest food and beverage producers, including top brands for beverage (non-alcoholic and alcoholic), condiment, dairy, and plant-based products, have entered into commitments, contracts, and purchase orders with Sweegen.<\/p>\n Manufacturing Alliance<\/strong><\/p>\n With Sumitomo, Sweegen entered into a strategic alliance in which Sumitomo will contribute one of its manufacturing factories in Asia to a joint venture between the two companies.<\/p>\n Sumitomo will assist in quality assurance and quality control at both the Asian facility and Sweegen\u2019s manufacturing site in Europe.<\/p>\n \u201cOur manufacturing alliance with an exceptional partner like Sumitomo gives Sweegen\u2019s customers the added security and benefit of multiple production facilities and is expected to accelerate Sweegen\u2019s market penetration greatly,\u201d said Chen.<\/p>\n