This first order for partially processed microalgae biomass confirms the commercial feasibility of Simris’ recent broadening of their microalgae platform into BIOMIMETICS and NOVEL FOODS. Now with international heavyweight
The 1,6 MSEK order for partially processed microalgae biomass marks the first important step in Simris’ three-pronged development plan to commercialize its algae platform. While the announcement did not reveal if the order was related to BIOMIMETICS or NOVEL FOODS, it confirms Simris’ qualifications as a B2B-supplier that can offer both a biotech algae platform for discovery, production, and extraction of various bioactive substances for advanced skin care and pharmaceuticals, as well as dry microalgae biomass for further extraction of high-value nutraceuticals and other food supplements.
This order was for freeze-dried microalgae, and as
Build-up to refinancing in 2022
Earlier this month, Simris secured bridge financing of 7 MSEK while also communicating its plan to raise additional capital in 2022. This will most likely be a good point in time, when we expect that Simris will have some more B2B-contracts under its belt, preferably some that clearly demonstrate the quality, competitiveness and commercial potential of their algae platform, especially within BIOMIMETICS.
We also hope that future deals, and particularly the deal announcements, more clearly reflect the actual value embedded in the company’s platform rather than just the volume value of the individual products or ingredients it can produce.
With Simris’ founder, algae pioneer Fredrika Gullfot stepping down as CEO, effective from
All in all, we see a fair chance for the investor sentiment and focus to transition away from the tunnel vision on short-term sales development that has hampered the share, to instead focus more on Simris’ position at the forefront of the marine microalgae space as a vertically integrated, B2B-focused microalgae biotech. Therefore we continue to see a high but difficult-to-quantify potential for the stock.
Read here: https://www.emergers.se/simris_f_en/
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