Moolec Signs an Offtake Agreement With Major Global CPG Company to Hit the US Market in 2025

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LUXEMBOURG / ACCESSWIRE / July 15, 2024 / Moolec Science SA (NASDAQ:MLEC) ("the Company"), a Molecular Farming ingredient company, announced today the signing of an offtake agreement with one of the largest global consumer packaged goods and pet food companies for the use of Moolec's patented science-based GLA Safflower Oil product, GLASO? (the "Agreement"). This initial offtake agreement has a term of three years and establishes commercial conditions for the delivery of GLASO? in US territory with an initial estimated volume of 50 tons for 2025.

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GLASO? is a nutritional omega 6 oil obtained from bioengineered safflower seeds. With high-GLA (gamma linolenic acid) concentration, Moolec's product contains almost 3 times more GLA than conventional sources such as borage and primrose oil, making it the most concentrated GLA oil available on the market. GLA is widely recognized for its health-promoting attributes and is primarily embraced as a valuable addition to various diets in the form of a dietary supplement, functional food, cosmetics, and animal nutrition such as pet food, main application targeted by this offtake Agreement.

Moolec Science also announces that it has signed binding agreements with farmers to cultivate safflower as well as with an industrial partner to secure state of the art downstream capacity. Both agreements are paramount to ensure a fully-controlled and traceable supply chain for GLASO?.

"We are thrilled to announce this significant supply agreement for our GLASO? nutritional oil product. This milestone, coupled with our new partnership for industrial toll processing, marks a pivotal step in our mission to deliver high-quality, innovative health solutions to our customers worldwide. It underscores our commitment to quickly scaling from small to large volume production and meeting the growing demand for sustainable nutritional ingredients," said Martín Salinas, Chief Technology Officer & Co-Founder of the Company.

Moolec's Molecular Farming Platform encompasses revolutionary technology enabling the production of high-quality ingredients, such as nutritional oils and proteins, in plants. The company leads the industry in demonstrating that its technology can be scaled efficiently, affordably, and sustainably. This allows for ingredients to be designed that will offer significant cost-in-use reductions compared to traditional and cellular agricultural methods.

Gastón Paladini, CEO & Co-Founder of Moolec, concluded: "We are very excited about this team accomplishment. It is a concrete and important step in Moolec's path to commercialize our flagship technology. Going forward, we will intensify our business development and commercialization efforts with major participants in the manufacturing and ingredients business."