Investment in South American rice bran technology
RiceBran Technologies, an Arizona-headquartered global leader in the production and marketing of value-added products derived from rice bran, announced a $3 million capital increase for its Nutra SA/ Irgovel subsidiary in South America.
The capital increase was made effective December 24, 2012, and consisted of the contribution by RiceBran Technologies of five stabilized rice bran (SRB) extruders and other services for a total contribution of $1.5 million and $1.5 million in cash contributed by Nutra SA investor and partner Alothon Group.
RiceBran Technologies CEO and President W. John Short said, "This capital increase will allow us to complete the capacity expansion currently underway at Irgovel during the second quarter of 2013. Once the upgrades are installed at Irgovel, the resulting introduction of our best-in-market rice bran stabilization technology will allow for improvements in raw rice bran quality as well as create the platform for future sales of SRB as a human food ingredient in the Brazilian market."