Hofseth BioCare ASA today received a written confirmation from the Danish Ministry of Food, Agriculture and Fisheries, giving the company's soluble protein (SPH) non-novel food status in the European Union as food supplement.
The Danish Authorities further confirms similar approvals from French and Belgian authorities.
- We have had many sales opportunities to the EU market, but have not been in position to take advantage of these, awaiting this approval. With this confirmation, the entire EU market opens for our SPH-product, says executive Vice President of Sales and Marketing Lucas Altepost in Hofseth BioCare.
The Danish Authorities further confirms similar approvals from French and Belgian authorities.
- We have had many sales opportunities to the EU market, but have not been in position to take advantage of these, awaiting this approval. With this confirmation, the entire EU market opens for our SPH-product, says executive Vice President of Sales and Marketing Lucas Altepost in Hofseth BioCare.
The European Union count for some 25% of the global market for protein concentrates.
The approval also implies that Hoseth BioCare is excused from applying for additional novel food certifications for SPH. Such application-processes normally take a minimum of two years, in addition to involving not insignificant financial investments for the company.
For further information, please contact:
Sjur Jenssen, CEO
tel: +47 9155 3514
e-mail: sj@h-bc.no
Lucas Altepost, VP Sales and Marketing
tel: +47 4829 5703
e-mail: lucas.altepost@h-bc.no
About Hofseth BioCare:
Hofseth BioCare is a Norwegian biomarine company with the key objective to provide high value added biomarine ingredients for human applications. The Company is founded on the core value of sustainability and optimal use of natural resources. Through innovative production technology and logistics, Hofseth BioCare is able to preserve the quality of protein, calcium and oil extracted from fish off-cuts. Products that previously could only be used as animal feed can now be made suitable for human consumption. HBCs objective is thus to contribute to efficient use of marine resources and entering the higher profit market of quality ingredients for human applications.
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.