Hofseth BioCare ASA has received its first US order for delivery of the company's branded omega-3 oil platform for human consumption, "omeGO". The order is a result of the sales agreement HBC entered into with MRM in November 2011.
The extra-virgin salmon oil product will be launched in the US Health Food retail channel by the purchaser MRM in March 2012. MRM, with corporate headquarters in Oceanide, CA USA, is a highly regarded producer of dietary supplements for sports nutrition and general health in the US and international markets.
- The order and later US launch of omeGO are important steps forward for Hofseth BioCare. We have been able to penetrate the world's largest market for omega-3 oils since we deliver high quality omega-3 oil for human consumption. Based on salmon oil, free of contaminants and with practically no taste and odor, omeGO stands out in the marketplace. We look forward to see the product launched, says CEO Sjur Jenssen at Hofseth BioCare.
- We are very excited about the completion of our search for the best quality omega-3 oil that meets our very strict quality standards relative to sustainable sources, purity, and freshness in a completely natural omega-3 oil. OmeGO oil represents the best product available in the market and we are looking forward to a successful launch, says CEO Mark Olson at MRM.
omeGO Extra Virgin Salmon oil represents a new approach to how the oil is sourced, and produced. omeGO is dedicated for human consumption from the sourcing of the raw material to its new enzymatic production technology. The enzymatic processing solves many of the issues that the traditional crude fish oil industry is facing, such as sustainability, fish taste, lack of freshness of the raw material and lack of quality control in the value chain.
While most omega oil 3 products on the market today are based on raw material from South-American pelagic fisheries, Hofseth BioCare, extracts oil from fresh cut offs from the Norwegian Progressive Aquaculture industry. This guarantees fresh omega 3 oil and secures full traceability throughout the value chain.
The global market for marine ingredient omega-3 materials is valued at USD 1,500 million with North America as the largest segment accounting for approximately 40% of the total. The global market for Omega-3 ingredients has enjoyed growth of 20% in 2008 and 2009 and is expected to increase at a compound annual growth rate of 12% until 2015.
Sjur Jenssen, CEO Hofseth BioCare ASA
Tel: +47 9155 3514
Email: sj@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.