Vancouver, British Columbia–(business wire)–Eatwell Investment Group Co., Ltd. (of “Company” Also “Eat Well Group” or “EWG”) (CN:EWG) (US:EWGFF) (FRA:6BC0) announces the appointment of Dr. Bernhard van Lengerich to the Company’s Advisory Board to assist management with investment insights and general corporate strategy related to the Company’s plant-based investment portfolio.
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PhD in Food/Biotechnology
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Leadership experience at General Mills, Beyond Meat, Unilever, etc.
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As an advisor, he led the development and launch of the first Beyond Burger and served on Beyond Meat’s board of directors
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Appointed to help portfolio companies address foodtech and innovation, identify ESG-driven opportunities and maximize technology trend mapping
Dr. Bernhard van Lengerich holds a PhD in Food/Biotechnology from the Technical University of Berlin, Germany and has worked at General Mills, RJR Nabisco, Unilever, Beyond Meat and the Buehler Group.
“We are honored to welcome Bernhard to the Eat Well Group. In, his values align with our mission,” said Mark Anid, CEO and Director of Eat Well Group.
Dr. van Lengerich graduated with honors from the Technical University of Berlin and completed his doctoral dissertation in the field of extrusion. After his doctoral dissertation he worked for several prominent organizations such as Coperion, RJR in the US, Nabisco in Switzerland, and Buehler Group in Switzerland. In 1994, Bernhard joined General Mills, Inc.GMI” Also “General Mills), where he led the Game Changer Innovation Program in Minneapolis and created the groundbreaking GMI Technology Venture Initiative to enable faster, higher impact innovation. After more than 20 years as Chief Scientific Officer and Vice President of Technology Strategy at General Mills, he was responsible for science and technology development across the company until his retirement in 2015.
Bernhard joined Beyond Meat in 2016 in an advisory role as Acting Chief Technology Officer and Head of Research and Development. During his tenure at Beyond Meat, he led the development and launch of his first Beyond Burger, then served on Beyond Meat’s board of directors until 2021.
In addition, Dr. van Lengerich serves on the Board of the German Institute for Food Technology, Bountyfield International, and advises S2G Ventures, Brightseed Bio, Benson Hill, UKKO, and several other organizations in the US and Europe. .
He is the inventor or co-inventor of over 150 patents, holds an honorary professorship at the Technical University of Berlin, Germany, where he teaches the science and technology of extrusion, and is a Fellow of the Institute of Food Technologists, Chicago. There is also. Bernhardt was an invited participant in discussions at the White House Office of Science and Technology Policy on global protein security under the Obama administration.
Bernhardt’s focus remains on supporting innovative solutions for sustainable food systems with a focus on supporting global food security initiatives. To help address this increasingly important issue, Bernhard founded his Seeding the Future Foundation. It is a 501(c)(3) private family foundation focused on seeding and supporting impactful innovations that help transform our food system. The foundation creates and funds seeds for the Global Food Systems Challenge of the Future, hosted by the Institute of Food Technologists (IFT) of Chicago and awarding prizes of up to $1 million annually. In its first year, the Challenge received over 900 submissions from his team of innovators around the world. The management of Eat Well Group believes that Dr. Vanlengerich and his Seeding the Future Foundation will improve our food system to make it more sustainable, affordable, accessible, attractive, safe and nutritious. Very enthusiastic and confident in their ability to fulfill their mission of providing high quality food. Trusted by consumers.
We have also increased our available credit facility with Cortland Credit Lending Corporation to a maximum of $6.5 million (the “Additional Credit Facility”) for a total of up to $40 million (the “Credit Facility”). Concurrently, the Company extended the maturity date of the credit facility from July 31, 2022 to October 31, 2022. Additional credit facilities are expected to be used for further growth initiatives and general working capital. As of the date of this document, the Company has drawn down a total of $33.5 million of its available $40 million credit facility. The Credit Facility continues to hold the primary security interest in all of the Company’s assets.
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About Eatwell Group
Eat Well Group is a publicly traded investment firm focused primarily on high growth companies in the agribusiness, food tech, plant-based and ESG (environmental, social and governance) sectors. Eat Well Group’s management team has a proven track record of sourcing, financing and succeeding companies in a wide range of industries and maintains current investment mandates in the health and wellness industry. The team has funded and invested in early stage ventures for over 25 years. The result is unparalleled access to deal flow and the ability to build opportunistic portfolios aimed at generating superior risk-adjusted returns.
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This news release contains certain forward-looking information and forward-looking statements within the meaning of applicable Canadian and US securities laws (collectively, “forward-looking statements”). Information about future prospects is often, but not always, “seeks,” “predicts,” “believes,” “plans,” “estimates,” “expects,” and “likely.” , and are identified using words such as “intended”. Statements that an event or outcome “could”, “would”, “should”, “could” or “could” and other similar expressions. These forward-looking statements include, but are not limited to, our ability to draw on the Additional Credit Facility, our intended use of the proceeds of the Additional Credit Facility and the repayment of the Credit Facility upon maturity. Undue reliance should not be placed on such forward-looking statements. Forward-looking information is based on assumptions that may prove to be inaccurate. We believe these assumptions are reasonable under the circumstances. However, forward-looking information is subject to business and economic risks, uncertainties and other factors, and actual operating results may differ materially from those expressed or implied in the forward-looking information. There is a possibility. For more information regarding the risks and challenges of the Company, its investee companies and its business, investors should review the annual report available at www.sedar.com.
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