Demand Increases for High-Quality Animal Feed Ingredient
Through Purchase Agreement From Largest U.S. Poultry Producer
SAN DIEGO, CA, Aug. 16, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire – Menon Renewable Products ("Menon" or the "Company"), a global leader in disruptive animal feed technology, announced today that it has received approval for a credit line from one of the largest investment banks headquartered in Europe, which will be utilized to expand the company’s footprint in the United States and meet demand for feed from some of the world’s largest food providers. This credit line helps Menon to move forward towards achieving a market cap of $1B valuation. The announcement comes after a successful trial and subsequent large order for Menon’s proprietary MrFeed® ingredient that was placed by one of the largest producers of poultry and other livestock in the world.
Following the success of numerous trials with poultry and continued commercial orders, the poultry producer has requested increased MrFeed® production. The proprietary ingredient, which is made from 100% renewable sources, is anticipated to be used to support over 300 million birds per year. In addition, investigation is underway by the producer to put MrFeed® to use in other applications such as swine and aquaculture.
“Working with such a large and well-respected food producer, we have been able to measure MrFeed®’s effectiveness on metrics such as growth and survivability on a large scale, in addition to having conversations about scalability and what it will take to introduce MrFeed® as a leading alternative to traditional animal diets on a global scale,” said Dr. Suresh Menon, Founder and President of Menon. “It has always been our goal to replace unsustainable feed ingredients with something that is better for the environment and the animals themselves. This is one more step in that direction.”
Leading up to this announcement, Menon conducted extensive testing of MrFeed® with some of the world’s largest food companies, as well as the largest swine contract research organization (CRO) in the United States. Trials of MrFeed® consistently showed increased growth and survivability of animals against disease challenges without the use of antibiotics, as well as significantly healthier internal organs for the animals at the conclusion of the trials. The consistent success of MrFeed® in these trials, as well as increased interest and demand for the ingredient from livestock and aquaculture producers around the world, added to the validity of the product, making Menon appealing to the investment bank for additional line of credit to achieve $1B in valuation.
MrFeed® has been tested on millions of animals beyond poultry, such as swine, finfish, and shrimp in trials around the world, consistently increasing yields as enhanced immune system health drives faster growth and higher survival rates. The product has been tested extensively in commercial settings worldwide in countries including Saudi Arabia, the United States, Canada, Costa Rica, India, Indonesia, Malaysia, Guatemala, Brazil, and many others.
MrFeed® is a high-quality animal feed ingredient providing essential amino acids and crude protein that are superior to commonly used feed ingredients. Highly digestible and rich in protein, vitamins and minerals, the product has been developed specifically for use in animal diets and provides enhanced survivability, improved immune system health and superior growth without the need for antibiotics.
Learn more about Menon Renewable Products and MrFeed® at www.menon.us.
About Menon Renewable Products:
Menon Renewable Products, Inc. (Menon) was founded in 2013 by Dr. Suresh Menon and is based in San Diego, CA. Menon has developed a patented process that converts hydrocarbon-based sugars from agriculture-based raw materials into a functional animal feed ingredient under the brand name MrFeed®. The ingredient not only overcomes anti-nutritional factors in many animal feed products, but also replaces various grains, related proteins, animal by-products, fishmeal, and other components. MrFeed® meets increasing worldwide demand for an abundant, sustainable, cost competitive and renewable source of animal feed. MrFeed® has been proven in aquaculture, poultry, and swine (with other animal species currently under testing) and has demonstrated superior performance when compared to traditional feeds in the areas of survivability, growth, disease remediation, FCR and overall animal health.
About MrFeed®
MrFeed® represents a disruptive technology that will significantly enhance animal growth and gut health. Through inclusion of a spectrum of unique prebiotics, nucleotides and peptides, MrFeed® enhances digestibility, promotes animal health and reduces the need for antibiotics and other disease remediation treatments. By utilizing agricultural and related by-products, MrFeed® reduces environmental pressure caused by overuse of unsustainable animal feed ingredients (such as fish meal).
Press Contact:
Kyle Porter
CMW Media, President
Menon@cmwmedia.com
1.858.264.6600
Corporate Contact:
Menon Renewable Products
info@menon.us
1.858.675.9990
