SACRAMENTO, CA--(Marketwired - Jun 23, 2014) - Stevia First Corp. (
In 2013, Stevia First achieved success in converting low-grade stevia extract directly into highly purified stevia extract using an enzyme enhancement process. Stevia First has filed new intellectual property related to this process and has been working extensively towards commercialization and implementation at an industrial scale.
Upon successful implementation, the Company intends to implement an annual minimum of 200 metric tons capacity for high purity Reb A through contract manufacturers or strategic partners. The process could enable Stevia First to directly convert low-grade stevia extract, which is commonly marketed for $40,000 per metric ton, into highly purified Reb A, which is often marketed for $100,000 per metric ton or more. The Company recently formed an alliance with Qualipride International in order to gain access to 1,500 metric tons of annual supply of low-grade stevia extract for use as starting material. For perspective on this capacity in the context of the stevia industry, Purecircle is a leading stevia supplier that disclosed as of 2013 a 2,800 metric ton capacity for highly purified stevia extract that could support annual sales of $250 to $300 million.
Stevia First's scale-up efforts to date have involved increasing reaction volumes by 25,000 times over initial laboratory conditions during production of food-grade stevia samples. The Company is now continuing to scale-up this process for pilot production and initial commercialization, with development to continue in mid-2014 directed at an initial production target of 400 kilograms per day of highly purified Reb A stevia extract. The Company estimates certain variable processing costs for initial production quantities to be less than $23,000 per ton, with additional costs related to enzyme production. Larger production runs could provide substantial economies of scale and greater margins. Stevia First is now reliably producing active Stevia enzymes at its facilities to be used within its enzyme enhancement process.
Dr. Brandon Zipp, Stevia First's Director of Research and Development, comments that, "We're finishing what the plant started, converting the most abundant steviol glycoside, stevioside, into the valuable Rebaudioside A and beyond."
Stevia First's CEO, Robert Brooke, adds that, "Since the 2003 discovery of this enzyme by our collaborator, this elegant approach to increasing global Reb A production has eluded the industry, but our team has employed its diverse experiences in handling Stevia UGT enzymes in a manner that has finally enabled a process that works. Discoveries in our lab made recently continue to set us apart, and position us ever closer to bringing our innovations to market."
About Stevia First Corp. (
Stevia First Corp. is an agricultural biotechnology company that has developed expertise for the production of stevia using fermentation and for improvement of traditional stevia farming and processing methods. The Company is also applying breakthrough technologies in software and the life sciences to develop product applications far beyond stevia and the food and beverage industry. For more information visit: www.steviafirst.com.
About the Stevia Industry
The market for all-natural, zero-calorie stevia sweeteners is expanding rapidly. The World Health Organization (WHO) estimates stevia intake could eventually replace 20-30% of all dietary sweeteners. The total global sweetener market was estimated at $58.3 billion in 2010. For more information visit: www.steviafirst.com.
Notice Regarding Forward-Looking Statements
This news release contains "forward-looking statements" as that term is defined in Section 27(a) of the United States Securities Act of 1933, as amended and Section 21(e) of the Securities Exchange Act of 1934, as amended. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, projections of worldwide sales of stevia products, growth of stevia production and global markets. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new projects and development stage companies. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K for the most recent fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.