Investments in Controlled Environment Agriculture (CEA) provide consistent sourcing of safe, effective ingredients using a fraction of the land and water resources
PROVO, Utah, Feb. 28, 2019 /PRNewswire/ -- As part of its annual investor day, Nu Skin Enterprises, Inc. today shared its long-term strategy for consistently sourcing pure, safe and effective ingredients for use in its products. To accomplish this, Nu Skin plans to build on its investment in Controlled Environment Agriculture (CEA) technologies to develop sustainable ingredients that are traceable from seed to solution.
Nu Skin's CEA strategy grows out of a desire to provide consumers safe, effective and traceable product ingredients while drastically reducing the land and water resources required. Nu Skin believes it will be able to uniquely position itself in CEA by combining its world-class scientific rigor with patented technology that controls and adjusts the growing environment. This ability to control factors such as water, light and temperature allows Nu Skin to optimize ingredients for its various products.
"At Nu Skin, we have always focused on using only the best, most effective ingredients in our products," said Ritch Wood, CEO. "This is a natural evolution in our commitment to innovate where we intend to infuse the best of nature, the latest in science and the most advanced technology into pure, safe and sustainable products."
Nu Skin's initial CEA investment has been centered around the acquisition of Groviv and its subsequent technology development. Groviv develops automated, climate-smart agriculture systems that use a fraction of the water and land required in traditional farming without the use of herbicides and pesticides. Nu Skin plans to continue to develop its Groviv technology while also identifying additional technologies or companies that support its product development initiatives. As the technology is developed, Nu Skin plans to begin adding CEA-sourced ingredients to its products in place of traditionally grown ingredients.
About Nu Skin Enterprises, Inc.
Founded more than 30 years ago, Nu Skin Enterprises, Inc. develops and distributes innovative consumer products, offering a comprehensive line of premium-quality beauty and wellness solutions. The company builds upon its scientific expertise in both skin care and nutrition to continually develop innovative product brands that include the Nu Skin® personal care brand, the Pharmanex® nutrition brand, and most recently, the ageLOC® anti-aging brand. The ageLOC brand has generated a loyal following for such products as the ageLOC LumiSpa skin cleansing and treatment device, ageLOC Youth nutritional supplement, the ageLOC Me® customized skin care system, as well as the ageLOC TR90® weight management and body shaping system. Nu Skin sells its products through a global network of sales leaders in Asia, the Americas, Europe, Africa and the Pacific. As a long-standing member of direct selling associations globally, Nu Skin is committed to the industry's consumer guidelines that protect and support those who sell and purchase its products through the direct selling channel. Nu Skin is also traded on the New York Stock Exchange under the symbol "NUS." More information is available at nuskin.com.
Important Information Regarding Forward-Looking Statements: This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that represent the company's current expectations and beliefs. All statements other than statements of historical fact are "forward-looking statements" for purposes of federal and state securities laws and include, but are not limited to, statements of management's plans regarding the company's CEA strategy and the outcomes and success of this strategy. In some cases, you can identify these statements by forward-looking words such as "believe," "expect," "anticipate," "intend," "plan," "continue," "will," "would," "could," "may," "might," the negative of these words and other similar words. The forward-looking statements and related assumptions involve risks and uncertainties that could cause actual results and outcomes to differ materially from any forward-looking statements or views expressed herein. These risks and uncertainties include, but are not limited to, competitive pressures, technological difficulties and limitations, alternative strategies and alternative uses of company and management resources, management's limited experience with CEA technologies, and consumer demand for the ingredients and products developed through the CEA strategy. The company's financial performance and the forward-looking statements contained herein are further qualified by a detailed discussion of associated risks set forth in the documents filed by the company with the Securities and Exchange Commission. The forward-looking statements set forth the company's beliefs as of the date that such information was first provided, and the company assumes no duty to update the forward-looking statements contained in this release to reflect any change except as required by law.
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