SweeGen’s Bestevia® Reb M Heads to Final Approval in European Union

Rancho Santa Margarita, Calif., April 14, 2021 (GLOBE NEWSWIRE) — Navigating sugar reduction solutions in Europe just got better for food and beverage brands. Today, SweeGen announced its next generation Bestevia Rebaudioside M (Reb M) stevia sweetener is in the final phase before the European Union publishes the approval in a few months.

In anticipation of the published approval, SweeGen is fast tracking the commercial scale up of the non–GMO Bestevia Reb M at its manufacturing facility in Europe. The regulatory step is the last hurdle to satisfying the demand for the highly sought–after stevia sweetener in the EU. For the past few years, the company has been collaborating with major food and beverage manufacturers in Europe to explore application developments for creating sweet taste innovations. Now, the products are near ready to launch on the market.

In conjuction with the anticipated Reb M approval, Sweegen launched its new Food and Beverage Applications Center in London in January 2021. The Center will be home to sugar reduction product development for brands in Europe. It will also serve as a creative center to explore and discover product innovations motivated by consumer trends and regional tastes.

"Reaching this last stage in the EU regulatory approval process for our Bestevia Reb M is a key milestone in our journey to inspire new product launches, and provide confidence for brands that are in their final phases for creating great tasting, reduced sugar and healthier products," said Michael Halvorsen, senior director of business development, EMEA. "Our new creative center in London allows us to help our customers reach their sugar reduction goals with new product innovations, and our European manufacturing facility in Europe enables the rapid commercialization of 3,000 metric tons of high–purity stevia per year."

Bestevia Reb M is great news for both consumers and brands. As consumers take action on reducing their sugar intake while demanding great taste, food and beverage manufacturers will have better sugar reduction solutions to meet their product challenges.

"Regional access to sustainable Bestevia Reb M is very important as it provides a low cost–in–use sugar reduction solution to product developers, and with SweeGen as a supplier and applications collaborator, together, we can create consumer–winning products," said Halvorsen.

Non–GMO stevia sweeteners have led the way in replacing sugar in foods and beverages, nutritional products, and many other market products world–wide. Innova market research reported that in France, from Jan. 2019 to Aug. 2020, sports nutrition product launches using stevia increased by 43%.

SweeGen offers brands cost–effective and rapid innovation for sugar reduction solutions for beverage, dairy, savory and bakery with its Bestevia Taste Solutions for Europe.

SweeGen is the first company to receive the Eueopean Food Safety Authority (EFSA) panel's safety status for any steviol glycoside produced by alternative and sustainable technologies. To achieve high purity clean–tasting stevia leaf sweeteners, SweeGen uses a bioconversion process starting with stevia leaf. This process enabled SweeGen to obtain the Non–GMO Project verification for its Bestevia stevia sweeteners in the US market.

"We are happy to move into this final approval step with the EU Commission because it provides our customers with confidence they need to proceed with their new product development and launches for sugar reduced innovation in Europe," said Hadi Omrani, director of regulatory affairs.

Bestevia Reb M was commercialized in 2017 and has already been approved in many regions around the world.

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About SweeGen

SweeGen provides sweet taste solutions for food and beverage manufacturers around the world.

We are on a mission to reduce the sugar and artificial sweeteners in our global diet. Partnering with customers, we create delicious zero–sugar products that consumers love. With the best next generation stevia sweeteners in our portfolio such as Bestevia Rebs B, D, E, I, M, and N, along with our deep knowledge of flavor modulators and texturants, SweeGen delivers market–leading solutions that customers want and consumers prefer.

For more information please contact info@sweegen.com and visit SweeGen's website, www.sweegen.com.

Cautionary Statement Concerning Forward–Looking Statements

This press release contains forward–looking statements, including, among other statements, statements regarding the future prospects for Reb M stevia leaf sweetener. These statements are based on current expectations, but are subject to certain risks and uncertainties, many of which are difficult to predict and are beyond the control of SweeGen, Inc.

Relevant risks and uncertainties include those referenced in the historic filings of SweeGen, Inc. with the Securities and Exchange Commission. These risks and uncertainties could cause actual results to differ materially from those expressed in or implied by the forward–looking statements, and therefore should be carefully considered. SweeGen, Inc. assumes no obligation to update any forward–looking statements as a result of new information or future events or developments.

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Edtech leader upGrad & AR pioneer EyeWay Vision partner to create one-of-a-kind AR learning experience

MUMBAI, India, and SAN JOSE, Calif., April 14, 2021 (GLOBE NEWSWIRE) — upGrad, South East Asia's largest online higher education company, and EyeWay Vision today announced their partnership, enabling upGrad to become the first Indian edtech company with an enhanced AR–driven learning experience. EyeWay Vision Ltd, an Israeli company developing an innovative wearable augmented reality platform, will bring one–of–a–kind immersive augmented reality (AR) to upGrad learners.

The global e–learning market was estimated at US $144 billion in 2019 and is forecast to reach US $374.3 billion by 2026, according to market research firm Facts and Factors. The market for virtual and augmented reality is forecast to reach more than $67 billion globally by 2024, according to AR/VR analyst firm Digi–Capital. upGrad has more than one million learners in more than 50 countries, and has recorded an annual revenue run–rate of 165 Million USD for fiscal year 2021.

"Partnering with upGrad is the perfect opportunity to apply EyeWay's advanced AR technology to enhance the whole learning experience by making it unprecedentedly immersive and distraction–free, gamifying online learning for high course completion rates. EyeWay's exceptional AR uses eye tracking, direct retinal projection and foveated projection to produce a tenfold improvement in visual enhancement. This can disrupt multi–billion dollar markets like educational technology where an impeccable visual experience is a key to user value," commented Dr. Nikhil Balram, CEO of subsidiary company EyeWay Vision Inc. in Silicon Valley, charged with bringing products to market. Dr. Balram is a renowned AR/VR expert, former head of display at Google, and adjunct professor at Carnegie Mellon University, guest professor at the Indian Institute of Technology (IIT) in Gandhinagar, India, and former visiting professor at the University of California, Berkeley.

The Israeli AR pioneer is developing products based on advanced immersive AR technology, enabling new forms of immersive entertainment, digital learning, e–commerce, and other enterprise applications. Both EyeWay Vision & upGrad share a common vision of creating greatly enhanced immersive learning experiences that customers can access anytime and anywhere.

Ronnie Screwvala & Phalgun Kompalli, Co–founders upGrad, said in a joint statement, “At upGrad, we believe in bringing the best and the latest technology to enhance the learning experience for our learners. The partnership with EyeWay Vision is a path–breaking step wherein we look at developing an augmented three–dimensional interactive learning environment to keep our learners engaged. Not only would this move disrupt the edtech market at large but it would also contribute towards our vision of making world–class education mainstream."

The EyeWay Vision prototype offers a very high dynamic range, with brightness ranging from ultra–bright 20 thousand nits down to a very low black level of 0.1 nits, allowing it to be used indoors and outdoors in all kinds of lighting. It offers an extremely wide color gamut (Rec 2020), retinal resolution, naturally wide field of view and dynamic focusing, presenting rich and natural digital content that looks completely realistic. The prototype is expected to be available towards the fourth quarter of 2021.

Jeremy Bailenson, VR professor at Stanford University, founding director of Stanford's Virtual Human Interaction Lab, and EyeWay Vision advisory board member, explained, “If there is one thing the pandemic has taught us, it is that digital learning works and is here to stay. The next phase of this virtual revolution will be to leverage more immersive technology. While AR has shown promise to be a tremendous tool for learning, it hasn't yet taken off due to limitations around field of view, the brightness and color range of images, and resolution. EyeWay Vision has created an incredible system to overcome these challenges, and there is nothing else like it on the market today. I am excited for digital learning to become more immersive, and to help EyeWay Vision become a leader in this space.”

"Incorporating AR technology into online learning is a compelling application that creates an engaging and immersive learning experience for students in digital education," commented Anthony Rowe, Siewiorek and Walker Family professor of electrical and computer engineering, at Carnegie Mellon University. "EyeWay and upGrad's partnership could pave the way for a new digital learning experience that could be the future of online learning," he continued.

Through this partnership, upGrad will leverage EyeWay's customized system to explore the development of AR–enhanced learning experiences and online programs. At an advanced stage, EyeWay and upGrad may include university partners to join in a pilot program. This move can make upGrad the first Indian edtech company and one of the very few globally to incorporate mixed reality to enhance the learning experiences of its online learners. EyeWay is currently developing an immersive AR head–worn prototype. This prototype will be used to enable an immersive AR learning experience that will further be developed by upGrad and its content partners.

About upGrad
upGrad is an Indian higher edtech leader, offering 100+ courses in Data, Technology, Management, Arts, etc., in collaboration with universities like Deakin Business School (Australia), Duke CE (US), Michigan State University (US), Liverpool John Moores University (UK), IIT Madras (India), IIM Kozhikode (India), etc. upGrad is India's #1 startup (LinkedIn's Top Startups 2020) and is amongst GSV Global EdTech 50 List. Visit upGrad's website at www.upgrad.com

About EyeWay Vision

EyeWay Vision develops innovative wearable augmented reality systems that provide a truly immersive experience on the go. EyeWay Vision Ltd. was established in 2014 in Israel, and has raised US $46 million in funding from strategic investors including Samsung Next, Verizon Ventures, Horizons Ventures, ICONIQ Capital, and OurCrowd. EyeWay's proprietary technology is protected by 17 patents published or pending. To learn more about EyeWay Vision, visit http://eyeway–vision.com


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