DENMARK- The Saudi Industrial Investment Group (SIIG) is acquiring a 24% stake in sustainable protein company Unibio International, investing US$70 million, according to a disclosure on the Saudi Stock Exchange.
The Saudi petrochemical firm will acquire a 9.9% stake at US$25 million in the first phase and acquire the rest after obtaining the Danish government’s approval for foreign direct investment (FDI).
The fund will enable Unibio’s vision of feeding the world’s growing population sustainably by rolling out new global production capacity, growing operating capabilities, and accelerating innovation and commercialization.
“We are pleased that SIIG shares our ambition of providing food security for the world’s growing population and helping stop hunger (#SDG2), and we look forward to working together to make it happen,” David Henstrom, CEO of Unibio, commented.
Mr. Abdulrahman S. Alismail, SIIG CEO, says the group is pleased with the investment in line with SIIG’s new strategy to diversify its investments, enter new sectors focused on sustainability and new technologies, and develop partnerships with international companies.
“Unibio’s focus aligns with Saudi Arabia’s commitment to increasing domestic protein production and supporting food security through innovation and technology,” Alismail commented.
“We are investing in Unibio for the long term and believe that by doing so we will contribute to a more diverse and sustainable economy,” Alismail added.
Unibio’s Qatar protein plant
In a 9,000-tonne capacity plant in Qatar, Unibio has a unique fermentation technology- the U-Loop technology- that allows it to produce sustainable protein for feed production, Uniprotein, on an industrial scale.
According to Unibio, “the production of Uniprotein is highly resource-efficient and sustainable compared with the production of traditional protein. Relative to soy production, Uniprotein uses no arable land and significantly less water”.
Uniprotein is approved for us in the EU and is in the process of getting other global registrations. Additionally, the production of Unibio’s protein for direct human consumption is under development.