Simris Alg AB (publ) today announced the launch in Sweden of its newly reformulated Omega-3 product containing both EPA and DHA which, for the first time, can be sold in the EU.
Simris’ previous Omega 3 capsules were not approved for sale in the EU, a major obstacle by any measure. To overcome this, the Company has worked with other microalgae specialists to procure the necessary inputs for a newly formulated, EFSA-approved, highly concentrated capsule that is half the size, and yet contains twice as much EPA and DHA as before. Furthermore, by offering the product in refill pouches, Simris is able to sell the range at a substantially lower price point to encourage more consumers to make the switch to algal Omega-3.
Since 2011, Simris has pioneered the drive for algae to replace fish as the source of DHA and EPA in nutritional supplements. Algae are the primary source of these essential fatty acids; fish simply accumulate them in their bodies by eating algae. With our oceans being progressively depleted of life, and marine ecosystems under pressure, Simris has remained committed to educating consumers about the true source of EPA and DHA and encouraging a switch to algal Omega-3.
EPA and DHA are referred to as ”essential fatty acids” because they are essential for the human body to develop and to function throughout life. The brain and eye are highly enriched with omega-3 fatty acids. EPA and DHA have been shown to contribute to the brain and eye development in the developing fetus and the breastfed child*, as well as contributing to the normal function of the brain, eye and heart in adults**. This should come as no surprise when one considers that about 60% of the brain is fat, and half of that fat is comprised of Omega-3 fatty acids.
Beyond the human health benefits, and the obvious benefits of reduced pressure on fish stocks and marine ecosystems, Simris algal Omega-3 does not contain any of the pollutants (including microplastics and heavy metals) that accumulate in fish. Simris’ new Omega-3 is even Halal and Vegan certified, and contains no fish, dairy or gluten.
The demand for both EPA and DHA as an ingredient in pharmaceuticals, food supplements, pet foods, infant formula and foods & beverages continues to grow. The global market for EPA and DHA as an ingredient was estimated to be worth $1,53bn in 2021, up 2,1% on the previous year. In the same year, the market for consumer products containing EPA and DHA Omega-3 was estimated to be worth US$47bn, an increase of 3.2%***.
“Our data suggests that more than 90% of EPA and DHA is still sourced from fish. The opportunity for this to be displaced by algal-sourced Omega-3 is therefore significant. Few people seem to know that Omega-3 originates in algae, especially as it is often referred to as fish oil. When we share the science, i.e., that it is the algae that are the primary source of EPA and DHA Omega-3, and not fish, most are surprised and then switch to an algal-sourced Omega-3. My mission is to ensure that we build the awareness that algae are the primary source of EPA and DHA Omega-3, offer a product that is fully sustainable and outperforms fish oil, and sell it at a cost-competitive price” said Julian Read, CEO of Simris Alg AB.
Available at https://eu.simris.com , the new Simris Omega-3, is initially purchased as a Starter Pack containing a refillable glass jar and two refill pouches, each containing 60 capsules of EPA and DHA Omega-3. To reduce the overall amount of packaging used, and to facilitate a lower retail price, repeat customers will only need to buy refill pouches.
This new cost competitiveness enables more consumers to choose algae rather than fish as their source of supplemental Omega-3. Considering that more than 90% of the Omega-3 in food supplements is still sourced from fish (an unsustainable resource) this Simris innovation lays down the foundation for a significant and sustainable revenue stream for the Company in coming years.
“Simris are pleased to be able to finally bring an EU-approved Omega-3 supplement to the Swedish market. Not only do these new capsules contain twice as much EPA and DHA as the old formulation, but they are also half the size, making them much easier to swallow. These improvements, together with a reduction in the amount of overall packaging used through repeat purchase, enable us to lower our selling price considerably. Whilst launch now first in Sweden, before launching in the US, via the Amazon platform in the US, in early February. We will then roll out into other key European markets later in 2023” continued Julian Read.
Simris shareholders will be offered a discount and should contact the Simris at info@simris.com for details.
* Maternal intake of 200 mg DHA a day contributes to the normal brain and eye development of a fetus and of breastfeeding infants.
** A daily intake of 250 mg EPA and DHA contributes to the normal function of the heart. A daily intake of 250 mg DHA contributes to the normal function of the brain. A daily intake of 250 mg DHA contributes to the maintenance of normal vision.
*** Global Organisation for EPA & DHA (GOED)
For more information contact:
Julian Read
CEO Simris Alg AB
Email: julian@simris.com
Phone: +46767888212
www.simrisalg.se
ABOUT SIMRIS ALG AB (PUBL):
Simris Alg is a biotechnology company identifying high value, natural, biologically active compounds found in microalgae and cyanobacteria to extract for applications in skincare, nutrition, and biopharmaceuticals. The company sustainably grows microalgae and cyanobacteria at industrial scale within its photobioreactor facility whereby conditions are optimized for production of these high-value compounds.
Simris Alg’s shares are traded on the Nasdaq First North Growth Market with the short name SIMRIS and ISIN code SE0008091664. Certified Adviser is Amudova AB, telephone: 08-546 017 58, email: info@amudova.se.