S&W Seed Announces Positive Tests from PureCircle’s Stevia Testing
FIVE POINTS, Calif., Nov. 10, 2011 /PRNewswire/ — S&W Seed Company (Nasdaq: SANW) today announced that testing of leaf from the company’s initial stevia harvest, which commenced at the end of September 2011, had very positive results and has exceeded the requirements of its supply partners at PureCircle. The lab results confirm attributes exceeding the needs of PureCircle, including high percentages of the Reb-A sweetener component; low levels of moisture; low levels of impurities such as seeds, stems and branches; and low levels of foreign matter, or ‘materials other than stevia’ (MOS). The ability to exceed the benchmark standards set by PureCircle is largely attributable to S&W’s proprietary deleafing harvest techniques.
In connection with the shipment of stevia leaf to PureCircle, the company will recognize its first revenues related to its stevia development program in the second fiscal quarter ending December 31, 2011.
Mark Grewal, president and chief executive officer of S&W Seed, commented, “We believe that in order to be a leading stevia leaf producer, the company has to produce high quality stevia with exceptional yields. The results from PureCircle’s lab tests confirm that we are capable of becoming a supplier of very high quality leaf in commercial quantities. We are particularly pleased that this has been confirmed in independent tests by our key customer, Pure Circle.”
As an all-natural product, stevia is an increasingly popular alternative to sugar and chemical sweeteners. Three hundred (300) times sweeter than sugar, Reb A, the naturally occurring sweetness component in stevia, has no calories, no carbohydrates and a zero glycemic index. In early May, AC Nielsen reported that Truvia, the two-year old tabletop stevia sweetener, recently surpassed Sweet ‘N Low (saccharin) to become the #2 sugar substitute in the country, and is now in more than five million U.S. households.
In its December 2010 report, titled Sugar and Sweeteners – US, Mintel, a leading market research firm, stated, “Reb-A and stevia is projected to penetrate 20 to 25 percent of the global sugar and sweetener market, which is currently still growing.” According to Mintel, the global market for stevia sweeteners has topped $500 million per year following U.S. regulatory approval in late 2008 and could reach billions of dollars per year in the coming years.
About S&W Seed Company
Founded in 1980 and headquartered in the Central Valley of California, S&W Seed Company is a leading producer of warm climate, high yield alfalfa seed varieties, including varieties that can thrive in poor, saline soils, as verified over decades of university-sponsored trials. S&W also offers seed cleaning and processing at its 40-acre facility in Five Points, California and has recently launched a business expansion initiative centered on its plan to mass produce stevia leaf in the U.S. in response to growing global demand for the all-natural, zero calorie sweetener from the food and beverage industry. For more information, please visit www.swseedco.com.
Safe Harbor Statement
This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may,” “future,” “plan” or “planned,” “will” or “should,” “expected,” “anticipates,” “draft,” “eventually” or “projected.” You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors and other risks identified in the Company’s 10-K for the fiscal year ended June 30, 2011, and other filings made by the Company with the Securities and Exchange Commission.
Robert Blum, Joe Dorame, Contact: Joe Diaz Matt Szot Lytham Partners, LLC Chief Financial Officer 602-889-9700 S&W Seed Company firstname.lastname@example.org 559-884-2535 www.lythampartners.com www.swseedco.com
SOURCE S&W Seed Company