Singapore's Sophie's Bionutrients, a sustainable urban food production technology company, selected as a FoodTech 500 finalist

SINGAPORE,Dec. 16,2020 -- Sophie's Bionutrients,world'sfirst food tech companyto use microalgae and patent-pending technologies to develop 100% plant-based and sustainable alternative protein has been selected as a FoodTech 500 finalist. Conceptualised by Forward Fooding,a first-of-its-kind collaborative platform fostering innovation via food tech data intelligence & corporate-startup collaboration,FoodTech 500celebrates global entrepreneurial talent at the intersection between food,technology,and sustainability.

As a next-generation sustainable urban food production technology company,Singapore-based Sophie's Bionutrients participated in this programme in October this year competing against 500 food tech startups from 52 different countries. After being assessed based on business size,digital footprint and sustainability score,Sophie's Bionutrients have been announced as one of the finalists. The final winners and rankings will be declared in February next year.

"At Sophie's Bionutrients,we consider food technology and innovation as the key to a better,more sustainable future. We believe in unlocking the power of nature and harnessing technology's potential to help build a more environment-friendly and healthy future. At FoodTech 500,it was great participating with hundreds of other startups from all over the world that share the same vision and compassion for planet earth and are trying to leverage food technology for a better tomorrow. We are honoured to be selected as finalists and even more encouraged to keep innovating for healthier,greener food choices,"said Eugene Wang,Co-Founder & Chief Executive Officer at Sophie's Bionutrients.

Sophie's Bionutrients are leading the food industry into the future where — owing to the ever-increasing global population and rapidly depleting resources,includingarable landas well asfreshwater— growing food products using bioreactors will be a necessity and not a choice. Leveraging single-cell micro-algae as a scalable and sustainable source of protein,Sophie's Bionutrients produces a cost-effective and accessible pure high-protein flour for a wide range of food applications.

This not only helps with food security but also addresses supply chain disruptions. According to a March 2020 Market Study report,the APAC market held nearly25% of the global microalgae market shareand is estimated to make further growth owing to the rising interest of industries in the production of microalgae-based products.

Learn more about Sophie's Bionutrients athttps://sophiesbionutrients.com.

About Sophie's Bionutrients

Sophie's Bionutrients is on a mission to unleash the limitless possibilities of nature,restore our planet and eliminate food allergies by creating plant-based,protein-rich alternatives to meat and seafood using microalgae,the mother of all food and plant life. In 2019,Sophie's Bionutrients won SGD 1 million grant from Temasek Foundation the Liveability Challenge and will open its first urban protein production facility in Singapore in 2020.