ZIVO Announces Commitment by ZWorldwide to Purchase all Zivolife™ Algal Biomass Product Produced Over the Next 18 Months
ZWorldwide Commits to Minimum Annual Volume Purchases for Five Years
ZIVO's Partner Alimenta Expects to Have Significantly Expanded Production Capacity Fully Operational in 2025 to Meet Projected Demand
Zivo Bioscience, Inc. (NASDAQ:ZIVO) ("ZIVO" or the "Company"), a biotech/agtech R&D company engaged in the development of therapeutic, medicinal and nutritional product candidates derived from proprietary algal cultures, today provided an update on the commercialization of Zivolife, its proprietary algal biomass as a food or food ingredient.
Following strong initial sales, ZWorldwide, an independent distributor with exclusive rights to the Zivolife product in North America, informed ZIVO that as part of its commercial agreement it will purchase the entire supply of Zivolife produced for the first 18 months. Additionally, subject to certain contingencies, for each of the next five years including the commitment for the initial 18-month period, ZWorldwide has committed to purchasing at least 24,000 kilograms of product.
"With the successful introduction of Zivolife to the green powder market and sales agreements locked in, we are now actively working with ZWorldwide to drive commercial success and with our contract cultivation partner, Alimenta Algae, to increase production volumes. ZIVO has the know-how to cultivate our proprietary algal biomass in far greater volumes, and we are pursuing plans to increase capacity as rapidly as possible," said John Payne, CEO and Chairman of ZIVO Bioscience.
ZIVO is collaborating with Alimenta Algae SAC ("Alimenta Algae") to repurpose their prior microalgae facility into a larger and more efficient cultivation and processing facility that, once completed, is expected to have the ability to produce up to 100,000 kilograms of dried product per year. The new facility is anticipated to be fully operational in the second or third quarter of 2025. Under the terms of its supply agreement, Alimenta has committed to ZIVO that it will make the necessary investments to the cultivation ponds and to downstream processing. Alimenta Algae is the microalgae subsidiary of Grupo Alimenta, a global, multi-generational, family-run agribusiness with headquarters in Lima, Peru.
"With the key elements of a commercial strategy in place, we now have a manufacturing plan that is capable of meeting the demand we're projecting for Zivolife in this initial market entry. I am optimistic about the future of ZIVO and the consumer uptake of our algal biomass product. Increasing production volume, our primary focus, is a direct path to increasing sales, and we are delighted to announce the significant upgrades Alimenta will be making to their aquaculture facility," added Mr. Payne.
Zivolife is natural, non-GMO and a high source of plant-based protein, naturally occurring beta glucan and fiber. ZIVO's dried microalgae is a source of essential amino acids, polyphenols, iron, potassium and vitamins A, E and B12. Zivolife supports digestive and gut health and helps to support a healthy immune system. It has a mild taste compared with other microalgae and has been tested as shelf stable for up to two years. Zivolife is 100% made from ZIVO's proprietary microalgae. For more information about ZWorldwide and Zivolife, please visit www.zivo.life.
Zivolife is cultivated at a single-source, sustainable aquaculture facility in the foothills of the Peruvian Andes Mountains using proprietary cultivation processes developed in partnership with ZIVO. The partnership has established quality-control testing at facilities in Ica, Peru, Ft. Myers, Florida and certified third-party laboratories. Zivolife will initially be available in limited quantities as ZIVO scales up production. For more information about Grupo Alimenta, please visit www.alimenta.pe.
About ZIVO Bioscience
ZIVO Bioscience is a research and development company with an intellectual property portfolio comprised of proprietary algal and bacterial strains, biologically active molecules and complexes, production techniques, cultivation techniques and patented or patent pending inventions for applications in human and animal health. Please visit www.zivobioscience.com for more information.
Forward Looking Statements
Except for any historical information, the matters discussed in this press release contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Although ZIVO believes that we have a reasonable basis for each forward-looking statement, we caution you that these statements are based on a combination of facts and factors currently known by us and our expectations of the future, about which we cannot be certain. Our actual future results may be materially different from what we expect due to factors largely outside our control, including risks that our strategic partnerships may not facilitate the commercialization or market acceptance of our products; risks that we will be unable to increase production sufficient to meet our expected demand; risks that our products may not be ready for commercialization in a timely manner or at all; risks that our products will not perform as expected based on results of our pre-clinical and clinical trials; our ability to raise additional funds; uncertainties inherent in the development process of our products; changes in regulatory requirements or decisions of regulatory authorities; the size and growth potential of the markets for our products; the results of clinical trials, our ability to protect our intellectual property rights and other risks, uncertainties and assumptions, including those described under the heading "Risk Factors" in our filings with the Securities and Exchange Commission. These forward–looking statements speak only as of the date of this press release and ZIVO undertakes no obligation to revise or update any forward–looking statements for any reason, even if new information becomes available in the future.
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