Swiss food-tech company Planetary has entered into an exclusive technology license agreement with Indian sugar producer Dhampur Bio Organics for local mycoprotein production. The agreement runs for 10 years, with 10% of after-tax revenue to be paid as a license fee. DBO will handle the construction and operation of the local facilities, and the establishment of a joint venture is also under consideration. The production scale and start date remain undisclosed.
Swiss food-tech company Planetary has entered into an exclusive technology license agreement with Indian sugar producer Dhampur Bio Organics (DBO) covering the manufacture of mycoprotein. The agreement runs for 10 years and is expected to be renewed in 5-year increments by mutual agreement.
Under the financial terms of the agreement, DBO will pay Planetary a license fee equal to 10% of after-tax revenue on a quarterly basis. The disclosed materials do not provide details of the production scale or start date at this stage.
In practical terms, DBO will be responsible for constructing and operating the manufacturing facilities, as well as manufacturing and supplying mycoprotein and related products. Planetary will provide the technology and handle product offtake.
The companies plan to enter into an agreement to establish a joint venture covering mycoprotein sales and product offtake, and are exploring the establishment of a local production system in India.