London, UK (11 December 2012) – Tate & Lyle PLC (Tate & Lyle), a global provider of ingredients and solutions to the food, beverage and other industries, announces that it has signed an agreement with Nandi Proteins Ltd, a spin-out of Heriot-Watt University in Edinburgh, to develop an early-stage protein ingredient technology for use in the food texturants space.
The agreement grants Tate & Lyle an exclusive worldwide licence for the technology for food and beverage use while Nandi Proteins Ltd retains the rights to develop the technology for other applications such as pharmaceutical. Tate & Lyle will be responsible for developing and in due course commercialising the technology including its manufacturing, applications development, sales and marketing.
Tate & Lyle’s partnership with Nandi Proteins Ltd was delivered through its Open Innovation team which is part of its Innovation and Commercial Development group. Tate & Lyle’s Open Innovation team leverages its global network to develop partnerships with universities, research institutes and start-ups specialising in food science with the aim of commercialising their technologies and bringing new products to market.
John Stewart, Open Innovation Manager at Tate & Lyle said: “We look forward to further developing Nandi’s food ingredient technology which has the potential to be an excellent addition to our texturants offering. This agreement represents another example of Tate & Lyle’s Open Innovation team successfully developing strong, mutually beneficial partnerships with early-stage companies.”
Mike Brennand, Executive Chairman of Nandi Proteins Ltd said: “Our agreement with Tate & Lyle is a powerful validation of Nandi’s approach of developing partnerships with major food industry players. Tate & Lyle’s technical resources and global customer reach combined with our technology make this a ‘win-win’ partnership and we look forward to a long and successful partnership in the years to come”.
Notes to editors
For all media or general enquiries, please contact Mathew Wootton (details below).
If you are a university, start-up business or a similar organization, and want to learn more about Open Innovation at Tate & Lyle, please contact:
Open Innovation Manager
Tate & Lyle Innovation & Commercial Development
For more information contact:
Group VP, Investor and Media Relations
t:+44 (0)20 7257 2110
m:+44 (0)7500 100 320
About Nandi Proteins Ltd
Nandi Proteins Ltd is a sales, marketing, IP and licensing company spun out of Heriot-Watt University, Edinburgh in 2001. The company was established to exploit patented process technology and know how to improve the functional properties of common proteins such as whey, egg and soy. The company’s objective is to become a market leader in the field of denatured protein technology. Denatured egg and dairy proteins are currently being produced on a factory scale and have been successfully used in applications by major companies in the food industry
About Tate & Lyle:
Tate & Lyle is a global provider of ingredients and solutions to the food, beverage and other industries, with operations in over 30 locations worldwide.
Tate & Lyle operates through two global divisions, Speciality Food Ingredients and Bulk Ingredients, supported by our Innovation and Commercial Development group. The Group's strategy is to become a leading global provider of Speciality Food Ingredients through a disciplined focus on growth, and by driving Bulk Ingredients for sustained cash generation to fuel this growth.
Speciality Food Ingredients consists of three platforms: Texturants, which includes speciality starches and stabilisers; Sweeteners, which comprises nutritive sweeteners and our range of no-calorie sweeteners including SPLENDA® Sucralose; and our Health and Wellness portfolio which includes speciality fibres and our salt-reduction offering. Additionally, our Food Systems business provides a wide variety of blended ingredient solutions.
Tate & Lyle Bulk Ingredients includes bulk sweeteners, industrial starches and fermentation products (primarily acidulants). Corn co-products from both divisions are primarily sold as animal feed.
Tate & Lyle is listed on the London Stock Exchange under the symbol TATE.L. American Depositary Receipts trade under TATYY. In the year to 31 March 2014, Tate & Lyle sales totalled £3.1 billion. For more information, please visit http://www.tateandlyle.com.
SPLENDA® is a trademark of McNeil Nutritionals, LLC.