Nutrition Technologies signs distribution agreement in Japan
Sumitomo Corporation, an existing investor of Nutrition Technologies, will distribute insect-based products for use in a range of sectors, including pet food and aquafeed products.
Nutrition Technologies signed an MoU agreement with Sumitomo Corporation with a portfolio valued at over USD 100 million. The MoU allows Sumitomo to distribute Nutrition Technologies products into the Japanese market for use in a range of sectors, including pet food and aquafeed products.
Sumitomo Corporation is an existing investor of Nutrition Technologies. This is an opportunity for Nutrition Technologies to extend its commercial reach in Japan, thanks to Sumitomo Corporation’s extensive distribution network and aligned companies within their group.
“This distribution agreement not only secures supply for our existing customers and the strength of demand we have for future production, but emphasizes our commitment to the success of Nutrition Technologies, and underlines the strategic alignment between the two companies. We envisage a bright future where the two businesses can grow together,” said Masahito Uno, general manager Life Sciences Division of Sumitomo Corporation.
Nutrition Technologies currently ships industrial volumes of material throughout Europe, Asia and South America, from its two-hectare factory in Malaysia. “We have been working with Sumitomo for a number of years, and this is another rewarding step forward in our shared journey toward a more sustainable future. Japan represents a very exciting market for us, and as we already work together, Sumitomo is the perfect partner to continue this development,” said Nick Piggott and Tom Berry, co-CEOs and co-founders of Nutrition Technologies.
Sumitomo Corporation also recognizes that there are many other opportunities outside of the feed sector, such as in sustainable cosmetics and Sustainable Aviation Fuel (SAF), and is already creating linkages with key partners to develop these products, which are expected to come online in the coming years.