Dug Foodtech

“I have been with Veg of Lund since April this year and in my role as Director of International Sales I have had the privilege of meeting many of the industry’s players as well as consumers and opinion leaders. With my experience and my network of contacts, I have during this time set the conditions for launches in key markets and markets where I see great potential in all our segments. During this time, I have also established that there is enormous pressure and great demand for plant-based products with high quality,” says Helene Nielsen, CEO of Veg of Lund. 

The message from our important stakeholder groups such as opinion leaders, industry players, the food industry and consumers is clear. We must redirect to more climate-friendly foods. Veg of Lund will thus be part of that change with our product portfolio. We need to reduce stress on our planet and on our children. Our products must be the first choice and correspond to the quality of animal alternatives.

Our patented potato base gives us an opportunity to create a unique product portfolio to change the food industry. The growth opportunities in HoReCa (hotels, restaurants and catering) are enormous. The coffee channel is a focus area and this year we have participated in several leading coffee festivals and will end the year with the Milano Coffee Festival. Veg of Lund also participated in Anuga, one of the world’s largest food fairs, a couple of weeks ago and the response and demand for products that are lactose- and gluten-free, allergy-friendly, low in sugar and with a low climate footprint is overwhelming. The reactions from those who taste our products are positive and we see that the demand is there and are therefore investing in reaching out to more consumers. This and more reasons mean that my colleagues and I go to work with confidence. We know that Veg of Lund makes a difference.

The work to reduce the carbon footprint is ongoing on several fronts. Consumers want good plant-based food that is climate-smart, healthy and preferably free of allergens. Countries have strategies to reduce their climate impact and investors are looking for sustainable companies to be able to increase their return on invested capital. Veg of Lund is definitely a part of this transition and must have a strong and independent position in the market, with patents enabling us to produce and deliver unique products on the global market. Unlike other crops, potatoes can be grown anywhere.

In recent months, we have established DUG in several countries, most recently in the Czech Republic, Slovakia, Poland, and Germany. I expect that we will soon be able to complete the list with distributors in several countries. We also see that we can sell to Swedish municipalities, which are increasingly switching to plant-based and allergy-friendly foods in the meals they serve.

As a company in a market that is partly in a build-up phase, we must increase our presence and strengthen our position in the markets that offer the best conditions for rapid sales development. This means that we mainly invest in marketing and sales activities. We spend time ensuring that the partner we choose to work with has the right conditions to reach out according to our model and can invest in a collaboration over a longer period. In addition to this, we can launch new products such as ingredients as well as cooking and whipping cream, ice cream and a meat analogue. We see great opportunities for these new categories.

The company has a stable owner base and several of the larger owners have contributed with financial support, for which we are grateful. The fact that our strategy and product portfolio also meet increasing interest from both Swedish and international investors means that I look forward to working closely with the board to continue creating value, including through profitable growth for today’s and future shareholders, employees, customers and other stakeholders,” sums up Helene Nielsen’s first time as CEO of Veg of Lund.

For more information, please contact:

Veg of Lund AB

Helene Nielsen, CEO

Telephone: +46 732 22 76 35

E-mail: helene.nielsen@vegoflund.se

About Veg of Lund AB (publ)

Veg of Lund should be the natural choice for all actors in the transition to plant-based foods. The company’s business concept is to use its own patented methods, innovative solutions and know-how to develop and sell products that the market demands. Changes are required for the food industry to reach its set climate goals. The company is contributing by its investment in plant-based foods with a low climate footprint, raw materials that are easily grown and available, and health benefits for the end consumer. The company and its well-established partners in priority markets and channels provide the conditions to grow in a global market, valued at USD 100 billion. The share is listed on Nasdaq First North and is traded under the name VOLAB. Read more at ir.vegoflund.se. Mangold Fondkommission AB is the company’s Certified Adviser and can be contacted by phone: +46 8 5030 15 50 or e-mail: ca@mangold.se.