Erik Deaner, CEO of Carbiotix, comments:
Once again, I am very pleased with the growth in NutraCycle customer projects since Carbiotix last reported customer projects at the end of December. During Q1, we added 15 new customers, 3 more than our quarterly target of 12 customers. Even with this conversion, the number of qualified leads at the end of the quarter increased to over 120, with over 10,000 prospects (ie. companies we have identified but are yet to enter into discussions with). Our trade show participation in Q1 included Future Food Tech in San Francisco, providing both a good number of qualified leads, but also an opportunity to position Carbiotix as a leader in the area of onsite upcycling. Going forward, we will continue to exhibit at select trade shows while focusing even more on cost-effective targeted digital out-reach.

During Q1, we had an increased focus on the development of robust business cases for the offsite sale of ingredients and onsite fortification of products. Moreover, we continued to build out our customer base geographically and across all side-streams to maximize learnings, adding our first customers in South America and 18 new side-streams in total. Both activities allowed us to better understand the potential of different side-streams, and the advantages of NutraCycle with regards to attractive payback periods for offsite ingredient sales as well as the up to 80% savings when fortifying products onsite.

Going forward, in addition to securing our first NutraCycle license agreement, as communicated in our recent Letter of Intent announcement, our ambition will be to roll out business case updates across all project reports. Moreover, we will further build out our customer pipeline by leveraging “best in class” business cases focusing on targeted digital marketing. We anticipate that both activities will allow the Company to increase the rate of pre-study project completion from one per week in Q2 to two per week by the end of Q4 2025. This in turn will allow us to accelerate over time the number of customer projects that we elevate to joint development and license agreements.

I am also happy to communicate that the company has made significant strides from a technology innovation standpoint. After announcing the development of our second-generation process two years ago, leading to a doubling of product yields, Carbiotix has now moved onto our third-generation process. In addition to providing further improvements to the yield of target products, as well as being more efficient and less expensive, the third-generation process is now customized for each customer, and from a process specification standpoint, is designed to continually improve over time. Moreover, we have fully embedded both the discovery and application of third-party technologies that have the potential to provide complementary value in the process development model. I truly believe this rapid customization and open ecosystem approach, with regards to the accelerated vetting of third-party technologies, will help Carbiotix hold a technology leadership position going forward. This evolving technology portfolio is one key cornerstone of our competitive value proposition, in addition to leveraging the collective data of the NutraCycle network for continual process optimization and product development work, as well as offering an attractive business model that is 100% aligned with the long term interests of our customers to develop healthier, more profitable and sustainable products.”

Link to visual overview
https://carbiotix.com/assets/img/nutracycle-development-blue-25-03-31.jpg

Forward-looking statements
This communication contains forward-looking statements, consisting of subjective assumptions and forecasts for future scenarios. Predictions for the future only apply as of the date they are made and are, by their nature, as is research and development work in the biotechnology segment, associated with risk and uncertainty. With this in mind, the actual outcome may deviate significantly from the scenarios as described in this press release.

This is information that Carbiotix AB is obliged to make public according to the EU Market Abuse Regulation (MAR). The information was made publicly available by the Company’s contact person set out below on 31 March 2025.

Carbiotix AB
Erik Deaner, CEO
Tel: +46 (0)738 67 30 85
E-mail: erik.deaner@carbiotix.com

Carbiotix AB (CRBX) (www.carbiotix.com) is an award-winning biotechnology company pioneering the onsite upcycling of plant-based side-streams. Carbiotix mission is to improve the health of people by increasing the consumption of prebiotics and other active ingredients from upcycled side-streams. Carbiotix offers one core service today called NutraCycle, an on-site upcycling and fortification service allowing food & beverage, ingredient, and feed producers to turn plant-based products into healthier, more profitable, and sustainable products.