Press release 2019-10-23
Extended evaluation agreement on oliveCEPT® in China
ArcAroma has extended its existing oliveCEPT® evaluation agreement with one of the leading olive oil producers in China. Due to the customer’s recent adjustments in the production line, a new evaluation is now being started. By placing oliveCEPT® before malaxation, instead of afterwards, the extraction of Extra Virgin Olive Oil (EVOO) is estimated to be able to increase by the corresponding five to ten percent, which also contributes to a more efficient production process and an improved quality of the end product.
The customer will optimize process time for shorter malaxation time during the season and the goal is to reach 10 to 15 minutes, i.e. a process efficiency of 30 minutes. If the agreed targets of the production period are achieved, the sales contract will amount to an order value of 150 000 EUR in the first or second quarter of 2021. In the previous evaluation period, a production increase was noted when oliveCEPT® was placed before the malaxer, but the customer initially notes that the production increase becomes more significant with a placement before the malaxer. If the targets are met during the production period, the evaluation will result in a sales agreement amounting to EUR 150,000 during the first or second quarter of 2021. Details of targets will not be disclosed at this time.
The customer is located in the largest production area for olive oil, which accounts for 80 percent of the total olive oil production in China. The original evaluation agreement was signed in September 2019. ArcAroma Shanghai Ltd is responsible for the overall project management, which includes installation, operation, personnel training and testing of the machine. China is a growing EVOO market with a larger number of olive trees than there are in Andalusia in Spain. ArcAroma’s goal is for oliveCEPT® to become the technology standard in a growing olive oil market.
For more information, please contact:
Johan Möllerström, CEO
(+46) 768 – 86 81 78
johan.mollerstrom@arcaroma.com
This information is such information that Arc Aroma Pure AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set above, at October 23, 2020 at 10.00 CEST.
About ArcAroma AB (publ)
ArcAroma has developed a patented technology that controls and applies electrical pulses to optimize various biological processes. The CEPT® platform, which is a high-voltage generator combined with a treatment chamber, uses the technology within FoodTech for increased extraction from the raw material and extended shelf-life and increased quality of the final product. Within CleanTech, the CEPT® platform is used for sewage sludge treatment and biogas production. The platform uses short-term high-voltage pulses (PEF) that crush the cell membrane and eliminate unwanted microorganisms.
Our vision is to contribute to a sustainable world by offering efficient green cutting-edge technology that is easy to use in the areas of FoodTech and CleanTech.
ArcAroma’s shares are listed on NASDAQ First North Premier Growth Market. Erik Penser Bank is Certified Adviser and is available at 08-463 80 00 or certifiedadviser@penser.se. www.arcaroma.com