The partnership of ICL Food Specialties & ICL Planet Startup Hub with EIT FAN will create an extremely powerful value proposition for European foodtech entrepreneurs
ICL Food Specialties together with ICL Planet StartUp Hub, both members of ICL Group, a leading global specialty minerals and specialty chemicals company, announced a partnership with EIT Food Accelerator Network (FAN) and its affiliate ShakeUpFactory hub. EIT FANis one of the world’s largest and dynamic food innovation communities. ICL will join EIT FAN Corporate partners network to promote its quest to collaborate and invest in startups focused on new ways of addressing global challenges in food production. These challenges range from tackling food insecurity through novel ingredients to the scaling up of processes.
EIT Food Accelerator Network is a leading theme-based acceleration program with a pan-European scope that helps and support startups to validate their technology and further advance their investment and commercial readiness. The program spans across 5 European hubs and connects impactful agrifood startups with industry-leading corporate and research partners.
The vision of ICL Food Specialties is to be the partner of choice for food companies and create impactful solutions for better food systems. With more than 75 years of experience in the food industry, ICL Food Specialties offer diverse solutions that deliver plant-based proteins, protein management applications, and functional ingredient systems to deliver texture, stability and shelf-life enhancement across multiple products and markets, including plant-based applications, meat, poultry, seafood, dairy, beverage and bakery.
ICL Planet is the corporate AgriFood innovation and investment platform that was created as an innovation catalyst investing in early stage, pilot-ready startups, as well as more mature, market-ready start-ups operating within the agriculture and foodTech domains. The initiative was established in order to advance and nurture game-changing technology companies active in addressing critical global needs and making a positive and sustainable environmental impact. Activity was first launched in 2021 and so far ICL Planet has invested more than $15M in 5 portfolio companies.
“This partnership brings an innovative value proposition for startups in the EIT food network that are looking for both fundraising and collaboration with an established corporation. We can offer our advanced infrastructure, extensive experience & insights, along with R&D, market, and regulatory support via ICL Food Specialties, and the smart investment via ICL Planet Startup Hub” says Sathaporn Srichuwong, PhD, Head of Front-End Innovation at ICL Food Specialties and the Foodtech lead at ICL Planet Startup Hub. “By joining the EIT Fan network, ICL will be able to connect with stakeholders across EU food systems, especially in the areas of new natural ingredients and alternative proteins, which fully align with the ICL Food Specialties growth strategy”.
ICL Food Specialties
ICL Food Specialties is a member of ICL Group, a leading global specialty minerals company. The company creates impactful solutions for humanity’s sustainability challenges in the global food, agriculture and industrial markets. ICL leverages its unique bromine, potash and phosphate resources, its passionate team of talented employees, and its strong focus on R&D and technological innovation, to drive growth across its end markets. ICL shares are dually listed on the New York Stock Exchange and the Tel Aviv Stock Exchange (NYSE and TASE: ICL). The company employs more than 12,000 people worldwide, and its 2022 revenues totaled approximately $9 billion.
To access ICL’s interactive Corporate Social Responsibility report, please click here.
For more information on ICL America Do Sul, visit ICL-ADS’s website at https://iclamericadosul.com/.
About ICL Planet Startup Hub
ICL Group is a leading global specialty minerals company, which creates impactful solutions for humanity’s sustainability challenges in the global food, agriculture and industrial markets. ICL Planet Startup Hub is the vehicle in which ICL cultivates, nurtures, and accelerates innovation and technologies in the AgriFood tech ecosystem. It seeks to invest and grow disruptive companies that can favorably affect the industries it works in and leads.
For more information, visit ICL Planet website at https://www.icl-planet.com/.
You can also learn more about ICL on LinkedIn.
About EIT Food
EIT Food is the world’s largest and most dynamic food innovation community. We accelerate innovation to build a future-fit food system that produces healthy and sustainable food for all. Supported by the European Institute of Innovation and Technology (EIT), a body of the European Union, we invest in projects, organizations and individuals that share our goals for a healthy and sustainable food system. We unlock innovation potential in businesses and universities and create and scale agrifood startups to bring new technologies and products to market. We equip entrepreneurs and professionals with the skills needed to transform the food system and put consumers at the heart of our work, helping build trust by reconnecting them to the origins of their food.
Find out more visit EIT’s website at www.eitfood.eu
Forward Looking Statements
This announcement contains statements that constitute forward-looking statements, many of which can be identified by the use of forward-looking words such as “anticipate,” “believe,” “could,” “expect,” “should,” “plan,” “intend,” “estimate” and “potential,” among others.
Forward-looking statements appear in this press release and include, but are not limited to, statements regarding the company’s intent, belief or current expectations. Forward-looking statements are based on management’s beliefs and assumptions and on information currently available to management. Such statements are subject to risks and uncertainties, and actual results may differ materially from those expressed or implied in the forward-looking statements due to various factors, including, but not limited to: estimates, forecasts and statements as to management’s expectations with respect to, among other things, business and financial prospects, financial multiples and accretion estimates, future trends, plans, strategies, positioning, objectives and expectations, general economic, market and business conditions, supply chain and logistics disruptions, the potential for new COVID-19 variants, global unrest and conflict, governmental and regulatory requirements and actions by governmental authorities, including changes in government policy, changes in environmental, tax and other laws or regulations and the interpretation thereof. As a result of the foregoing, readers should not place undue reliance on the forward‐looking statements contained in this press release concerning the timing of the transaction, or other more specific risks and uncertainties facing ICL, such as those set forth in the “Risk Factors” section of its Annual Report on Form 20-F filed on February 23, 2022, as such risk factors may be updated from time to time in its Current Reports on Form 6-K and other filings ICL makes with the U.S. Securities and Exchange Commission from time to time.
Forward-looking statements refer only to the date they are made, and the company does not undertake any obligation to update them in light of new information or future developments or to publicly release any revisions to these statements in order to reflect later events or circumstances or to reflect the occurrence of unanticipated events.
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