SCOTTSDALE, Arizona, December 10, 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, began to focus on the emerging nutricosmetics market as a significant, high margin growth opportunity for its rice bran, rice bran oil and rice bran derivative products in late 2014. Today the Company announced that it has shipped a nutricosmetics order to a large retail chain customer with over 4,000 stores throughout the United States. The two new hand cream products formulated with rice bran oil were developed by RBT in conjunction with the retail chain's product development team. Those hand creams will be available in a select number of stores immediately with a larger roll out anticipated to take place in 2016.
In addition to its 4,000 store footprint, the retail chain also sells its branded products through 30,000 additional independent retail locations. RBT sees the nutricosmetics product category as a significant high margin growth opportunity and is in various stages of development with other high value customers for additional nutricosmetics product launches in the coming quarters.
Skin care products made with rice bran and rice bran oil are known to make skin appear younger, less wrinkled and more evenly toned. Rice bran oil is naturally rich in nutrients such as gamma oryzanol, tocopherols and tocotrienols. These nutrients can fortify skin cells and help protect the skin from oxidative stress. Rice bran and rice bran oil have been used for centuries in cosmetic and beauty products in Japan dating back to the Geishas. Rice bran based products are credited with providing more beautiful and younger looking skin. Today, the most beautiful women in Japan are still known as 'nuka bijin' or rice bran beauties.
Mark McKnight, SVP of Sales and Marketing at RBT, says: "According to NEXT: THE NATURAL PRODUCTS INDUSTRY FORECAST 2016, booming nutricosmetics markets in Japan and Europe have greatly contributed to success of the overall global nutricosmetics market, which is estimated to reach $5.5 billion by the year 2018. America is also starting to catch on and RiceBran Technologies expects to capitalize on emerging opportunities in nutricosmetic creams and lotions, exfoliants and 'beauty-from-within' products based on rice bran formulations."
McKnight continued, "Integrating our proprietary and patented ingredients into nutricosmetics is a key target for our company as we move into 2016 and we are excited to have developed this new customer relationship to demonstrate our capabilities in nutricosmetics formulations. We look forward to building a long and profitable relationship with this customer as we work to build our nutricosmetics product offerings into a significant driver of high margin revenue for our Company in 2016 and beyond."
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 email@example.com
SOURCE RiceBran Technologies