Ocean Harvest Technology Group PLC Grant of Patent

RNS Number : 5014E

Ocean Harvest Technology Group PLC

27 February 2024

 

27 February 2024

 

Ocean Harvest Technology Group plc

 

("OHT", the "Company", or the "Group")

 

Grant of Patent

 

Significant Milestone for OHT's IP Strategy

 

 

Ocean Harvest Technology Group Plc (AIM: OHT), a leading researcher, developer and supplier of proprietary blended seaweed products as functional additives for the global animal feed industry, is pleased to announce that it has been granted a second patent, covering a wide range of claims about the benefits of using its OceanFeed^TM product in the diets of a range of animals.

 

The patent protects the claims:

 

i)          of how OHT's product positively impacts the gut through its proven pre-biotic effect; and,

ii)          that this results in increased body weight and/or improved feed efficiency in a wide range of animals.

 

The grant of this patent is a core pillar of OHT's intellectual property strategy and protects OHT's IP over the core claims of how its OceanFeed^TM proprietary blended seaweed additive products work and the benefits it leads to which are so important to OHT's customers.  Importantly, the patent covers a range of formulations providing OHT with significant flexibility in the future, both in terms of which seaweeds the Company uses and the exact proportions in which these are combined to produce the end products delivered to customers.

 

The patent, GB1909443.2 "Seaweed Blend for Modifying Gut Microbiota" has been issued by the UK Intellectual Property Office and similar applications have been made in other relevant jurisdictions by OHT. To OHT's knowledge, this is the only patent that has been granted in any of OHT's target markets which covers the mode of action of a seaweed blend as an additive to animal feed diets.

 

This patent provides OHT with a significant competitive advantage by ensuring that whilst others can blend seaweeds together, they would not be able to make any of the core claims about the benefits of the product that OHT can make and which ultimately matter to the end buyers of OceanFeed^TM. This patent also acts as a significant barrier to entry in the supply of blended seaweed products as additives to animal feed.

 

OHT's IP strategy is part of a multi-pronged approach to build a competitive advantage for the business alongside its supply chain strategy, accumulation of "know how" and an ever expanding body of data from dozens of commercial and academic trials carried out over many years. The Company is working to make seaweed-based feed additives a material part of the $40 billion animal feed additive market and to ensure OHT can maintain its position as a leading producer of seaweed blends to this market.

 

Mark Williams, CEO of OHT, commented:

 

"The granting of this patent is a very important milestone for OHT.  For a number of years we have been demonstrating improved performance in production animals from adding OceanFeed^TM to their diets including higher growth rates, reduced mortality and improved feed efficiency.  The grant of this patent enables us to uniquely make and protect the claims over these performance improvements and how they are achieved, which is through the specific pre-biotic effect our product has in the microbiome of the animals."

 

 

For more information please contact:

Ocean Harvest Technology Group plc	Tel: [phone]
Mark Williams, CEO
Cavendish Capital Markets Limited (Nominated Adviser and Sole Broker)	Tel: [phone]
Geoff Nash / Seamus Fricker / George Dollemore (Corporate Finance)   Tim Redfern / Harriet Ward (ECM)
Camarco (Financial PR Adviser)	Tel: [phone]
Tom Huddart / Rosie Driscoll / Letaba Rimell	[e-mail]

 

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU No. 596/2014) which is part of UK law by virtue of the European Union (Withdrawal) Act 2018. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

 

 

Notes to Editors

 

Ocean Harvest Technology Group plc is a global leader in the development and commercialisation of value adding proprietary products from blending multiple species of seaweed. The Company provides a range of natural additives focused on improving animal performance and the sustainability of the feed chain, through its unique and proven proprietary seaweed blends. The Company sources its seaweed globally, utilising sustainable and socially responsible harvesting of largely wild blooming seaweed species.  Its products are produced in its facility in Vietnam and sold into the $40bn animal feed additive sector in multiple markets across the world.

For more information, please visit www.oceanharvesttechnology.com.

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

 

END

 

 

MSCFLFVRFDIRFIS