Parabel and Worldwide Group Sign License Agreement
Melbourne, FL (PRWEB) July 31, 2013 -- Parabel, Inc. (OTCQB: PABL), a provider of end-to-end solutions for feed and food production, today announced that it has finalized a Master License Agreement with Worldwide Strategic Investments Company, a subsidiary of Worldwide Group, for the implementation of a commercial-scale license unit in Colombia for the production, harvesting and processing of high-grade protein for animal feed under the Colombian registered entity name of PROTILEMNA de Colombia, SAS.
The agreement provides for the phased construction and operation of a commercial-scale license unit of approximately 5,000 hectares. With substantial expertise in construction and project management, Worldwide will be strongly positioned to execute each phase quickly and efficiently for PROTILEMNA de Colombia.
“We firmly believe that Parabel’s technology will provide a new source of feed and food in Colombia and elsewhere in Latin America,” said Dr. Joaquin Enrique Tomas, Director and COO of Worldwide Group. “We have been reviewing the details of Parabel’s system for some time, and have been impressed with its results, so it is pleasing to finalize this agreement and to begin the important work of promoting food security and economic growth in Colombia.”
To date, Parabel has entered into contracts with customer licensees in China, Malaysia and Ecuador. In total, the agreements contemplate the build-out of thirteen full-scale license units, representing an order book value of over $4 billion.
“This agreement underlines our commitment to address critical market needs in Latin America,” said Anthony Tiarks, Parabel’s CEO. “The shared vision of Parabel and Worldwide Group as PROTILEMNA is to introduce an environmentally sustainable and socially valuable technology platform to Colombia for the purpose of feeding both animals and people.”
According to The Economist’s Food Security Index for 2013, Colombia ranks only 52nd in the world. With Parabel’s solution, Worldwide Group will be able to produce high-value protein for animal and human diets, as well as a carbohydrate-rich meal for animal feed. Both products have been validated by third-party research institutions in the United States as viable alternatives for existing feed sources, including fish meal and alfalfa meal.
About Parabel
Parabel Inc. (OTCQB: PABL), based in Melbourne, Florida, provides end-to-end solutions for feed and food production. The company’s system delivers strong economic returns to customer licensees, as well as social and environmental benefits through job creation, community investment and food security promotion. For more information about Parabel, please visit http://www.parabel.com.
About Worldwide Group
Worldwide Group is a US-managed group registered in Panama to do business in Latin America with a diverse portfolio of operations in construction management, land holdings, strategic investments and administration, strategic inbound and outbound investments, cross-border trade and trade servicing, agricultural commodities and environmental technologies. For more information about Worldwide Group and PROTILEMNA de Colombia SAS, please visit http://www.worldwidegroup.com.ag.
Jamie Boulding, Parabel, +1 (321) 409-7436, [email protected]
Share this article