SCOTTSDALE, Arizona, December 30, 2015 /PRNewswire/ --
RiceBran Technologies (NASDAQ: RIBT and RIBTW) (the "Company" or "RBT"), a global leader in the production and marketing of value added products derived from rice bran, today announced that the Company has entered into a 10 year Exclusive Supply and Cooperation Agreement covering the North American equine market with Kentucky Equine Research ("KER"), an international equine nutrition, research, and consultation company serving horse owners and the feed industry.
Under the terms of the agreement, RBT will be the exclusive supplier of stabilized rice bran ("SRB") endorsed by KER for use as a feed and supplement ingredient in equine products sold in North America. RBT will provide manufacturing, distribution, sales and marketing expertise and KER will contribute sales and marketing expertise, technical support and research and development to the partnership.
Dr. Joe Pagan, President and Founder of KER, commented: "We are excited to enter into this agreement with RiceBran Technologies. In addition to RBT being the technology leader in rice bran stabilization, their patented processes produce a range of unique rice bran derivatives that we will jointly develop with the aim of producing high value equine supplements with targeted nutritional applications."
W. John Short, CEO & President of RBT, commented: "Dr. Pagan has built KER into the leading equine nutrition company in the world. It is a pleasure and an honor to have the opportunity to cooperate with Joe and KER to increase market penetration for both of our companies as we work to bring new, high value equine feeds and supplements to the North American equine market."
About Kentucky Equine Research
Kentucky Equine Research (KER) is an international equine nutrition, research, and consultation company serving horse owners and the feed industry. KER's goals are to advance the industry's knowledge of equine nutrition and exercise physiology, apply that knowledge to produce healthier, more athletic horses, and support the nutritional care of all horses throughout their lives. For more information about KER, please visit https://ker.com .
About RiceBran Technologies
RiceBran Technologies is a human food ingredient and animal nutrition company focused on the procurement, bio-refining and marketing of numerous products derived from rice bran. RiceBran Technologies has proprietary and patented intellectual property that allows us to convert rice bran, one of the world's most underutilized food sources, into a number of highly nutritious human food ingredient and animal nutrition products. Our target markets are human food ingredients and animal nutrition manufacturers and retailers, as well as natural food, functional food and nutritional supplement manufacturers and retailers, both domestically and internationally. More information can be found in the Company's filings with the SEC and by visiting our website at http://www.ricebrantech.com .
This release contains forward-looking statements, including, but not limited to, statements about RiceBran Technologies' expectations regarding recovery of funds from an escrow account related to the 2008 purchase of Irgovel. These statements are made based upon current expectations that are subject to known and unknown risks and uncertainties. RiceBran Technologies does not undertake to update forward-looking statements in this news release to reflect actual results, changes in assumptions or changes in other factors affecting such forward-looking information. Assumptions and other information that could cause results to differ from those set forth in the forward-looking information can be found in this press release and in RiceBran Technologies' filings with the Securities and Exchange Commission, including its most recent periodic reports.
Investor Contact: Ascendant Partners, LLC Fred Sommer +1-732-410-9810 firstname.lastname@example.org
SOURCE RiceBran Technologies