Five Points, California, USA
November 10, 2011
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."
About Stevia
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.
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