Jun 2023
microTERRA Investors,
Reflecting on Q2, I am closing this quarter with a feeling that the engine is finally working, and we are moving full steam ahead. After many ups and downs with external manufacturers, we nailed it. We developed three relationships to better understand the process, their machinery, the limitations, etc., and we successfully scaled up!!!!
With our product in hand, we are ready for our clients, and we have had astonishing results in the kitchen. Additionally, we have derisked the fiber activation, making this our second product. We challenged our transformation process from the farm to the bioreactor, and now we are extracting pectin from fresh lemna, which will reinforce our pre-treatment (IP).
Last but certainly not least, we completed the construction of a 1 Ha Lemna farm to be able to prove unit economics and also produce pectin at scale.
Each pillar achieved major milestones, and I couldn't be more proud of this team!
We had a 2-day strategy workshop with our management team to close Q2 and plan the rest of 2023!
Testing our pectin at Zahini labs as part of our co-development kick-off
Our 1-ha Agropark expansion keeps advancing, and we couldn't be more excited
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