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BioVeritas Executives Predict “Big Movements” in the Clean-Label Industry for 2024

Updated: May 24

Packed with exciting advancements, the clean-label movement is picking up steam and 2024 is set to be one of the most explosive years yet

BRYAN, TEXAS, USA, January 8, 2024 / --BioVeritas, LLC., a bio-based ingredients company pioneering a proprietary upcycling process, today released its top predictions for the clean-label and bio-based ingredients industry for 2024. The predictions span the industry and are ultimately rooted in consumer demand.

BioVeritas CEO David Austgen asserts “This year, we will see finished goods food manufacturers start to demand their ingredient suppliers stand behind their claims that their products are truly clean and all natural. For example, there is fairly widespread industry talk that some mold inhibitor producers take a shortcut to meet efficacy goals by spiking ‘clean label’ products with a petrochemical incumbent. Finished goods makers seeking to meet consumer demand for transparency and clean labeling will require proof that the clean label ingredients they utilize are truly bio based, likely measured through carbon-14 analysis. The bottom line is these finished goods makers will insist on proof that the clean label ingredients they are sourcing -- and their consumers are demanding -- aren’t spiked with hidden petrochemicals.”

Stephen Toon, chief operations officer for BioVeritas, predicts that 2024 will start to see strong movement toward full commercialization of bioprocessing technology. “This year there will be clear movement from theory and promise to execution and commercial practice. These advancements will reduce carbon emissions and adhere to the fundamental integration of natural ecological principles, creating jobs that provide safe, clean and economically viable products. We’ll see new jobs and completely new positions emerge in the corporate structure as this trend moves forward.”

Pareen Shah, chief commercial officer for BioVeritas, sees consumer behavior driving the biggest changes in corporate and manufacturing practices. “As consumers continue to demand clean-label products, we expect that by 2030 clean-label will no longer be the alternative -- it will be the norm. To meet that anticipated competitive need, truly innovative companies will start making plans for that switch by the end of this year.”

Jeremy Smith, chief financial officer for BioVeritas, anticipates that sustainability alone will be a difficult proposition to sell to investors. “In 2024, investors will continue to prefer companies with a low carbon footprint. To attract investment, however, low-carbon companies will increasingly need to demonstrate a pathway to profitability that does not require substantial government tax credits.”

BioVeritas, LLC., is a portfolio company of Ara Partners, a private equity and infrastructure firm specializing in industrial decarbonization investments.


About BioVeritas, LLC

BioVeritas, LLC., headquartered in Bryan, Texas, is a bio-based ingredients company that is commercializing a proprietary upcycling process. BioVeritas products have industry-leading efficacy and quality intended for innovative companies seeking natural solutions for food preservation, human and animal health, and industrial materials.

For more information on BioVeritas products, please

About Ara Partners

Ara Partners is a private equity firm specializing in industrial decarbonization investments. Ara Partners invests in the industrial & manufacturing, chemicals & materials, energy efficiency & green fuels and food & agriculture sectors, seeking to build businesses that provide significant decarbonization impact. It operates from offices in Boston, Houston and Dublin. As of June 30, 2023, Ara Partners had approximately $4.4 billion of assets under management.

For more information on Ara Partners, please

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