Hofseth Biocare ASA: Commences the project for a second hydrolysis plant in Norway to triple capacity

Hofseth BioCare ASA ("HBC" or the "Company", and together with its consolidated subsidiaries, the "Group") is pleased to announce a Board resolution to start a project to build a second hydrolysis plant in Berkåk, Norway through HBC Berkåk AS ("HBC Berkåk"), a wholly owned subsidiary of the Company.

HBC Berkåk will be engaged within the manufacturing, marketing and sale of clinically proven, human grade, sustainable marine proteins, collagens, and oils from Norwegian Atlantic salmon harvested from sustainable aquaculture. The planned capacity of the Berkåk plant will be 2.5x the current capacity of the Company’s Midsund facility.

The project will strengthen HBC’s commitment to R&D and discovery science which has enabled the development of a unique portfolio of sustainably sourced and clinically proven ingredients for human and pet markets globally

The Company will over the coming few months aim to secure the funding for Capex requirements for the Group's Berkåk facility, as well as other working capital needs for the HBC Berkåk build-out via bank and leasing facilities. The intention is to develop a second enzymatic hydrolysis plant to more than triple current production volumes of HBC’s unique marine ingredients.

Sustainability aspects are firmly integrated into all aspects of how HBC operates.  HBC ensures there is no food waste by using its proprietary technology and IP to upcycle the raw material offcuts from the fresh fish not used in the production of fillets and portions from Norwegian processors, into bioactive ingredients with patented health benefits and health claims.  

The demand for our marine-based proteins continues to grow strongly, particularly following new published research demonstrating GLP-1 activation from ProGo® Bioactive Peptides.

For further information, please contact:

Jon Olav Ødegård, CEO at HBC

Phone:

E-mail:  

About Hofseth BioCare ASA:

HBC is a Norwegian consumer and pet health ingredient supplier and an incubator for new pharmaceutical drug leads. For OmeGo®, clinical trial work with our salmon oil is ongoing to improve lung health in allergic asthma and urban populations with exposure to raised pollution levels. A study in mild COVID has completed successfully demonstrating important immune health benefits for faster recovery. For CalGo®, preclinical and clinical trial work is delineating the joint health benefits of the natural, undenatured type II collagen contained in it. ProGo® provides both metabolic and gastrointestinal (GI) health benefits. The former includes GLP1 activity and hence consistent weight loss with improved energy levels from improved iron metabolism. The peptides also support muscle health providing a triad of benefits important for healthy ageing and active lifestyles. In terms of GI health, a special formula of soluble protein hydrolysate (SPH / ProGo®) is being developed as a Medical Food to help treat Inflammatory Bowel Disease, and for Iron Deficiency Anemia. Research is ongoing to identify the individual elements within its ingredients that modulate inflammation and the immune response with pre-clinical studies ongoing in multiple clinics and University research labs. 

The company is founded on the core values of sustainability, optimal utilization of natural resources and full traceability. Through an innovative hydrolysis technology, HBC can preserve the quality of the lipids, proteins and calcium from fresh salmon off-cuts. HBC's headquarters are in Ålesund, Norway with branches in Oslo, London, Zürich, New Jersey and Palo Alto. HBC is listed on Oslo Børs with ticker "HBC".

This information is subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act