SOURCE: Global Food Technologies, Inc.

March 08, 2007 15:48 ET

Global Food Technologies Inks China Deal

WASHINGTON, DC -- (MARKET WIRE) -- March 8, 2007 -- Global Food Technologies, Inc. ("GFT"), a U.S.-based biotech company focusing on food safety, announces the signing of an exclusive representative contract with Min Han, CEO of the China Seafood Certification Institute ("CSCI").

The announcement was made today at the Food Safety and Security Summit in Washington, DC. The ten-year exclusive agency contract calls for minimum performance standards which include over 1 billion pounds of seafood products processed by GFT's iPura™ food safety system by the end of 2009, and over 8 billion pounds by the end of 2012.

"This agreement has developed after several months of due diligence with formal meetings and detailed discussions in China and in the U.S. GFT is pleased to contract with such an influential leader and accomplished agency. We believe this is the beginning of a long and lasting relationship. This contract benefits all parties," stated Keith Meeks, President of Global Food Technologies.

Min Han, CEO of CSCI, commented, "China is committed to food safety for our seafood exports and for China's domestic market. High quality and safe seafood is a top priority for our country. This association with GFT will be very good for our seafood industry and very good for consumers. We made the necessary research and inspections to verify the iPura™ clean step technology, and are very impressed with the technology, and with the iPura™ marketing program. We are happy and very excited to work with Global Food Technologies to play a major part in making iPura™ a household word. China produces over thirty percent of the world's seafood and it is our mission to market the cleanest and safest products in the world."

The China Seafood Certification Institute was formerly a Chinese governmental agency which certifies HACCP and ISO standards.

Global Food Technologies has created an environmentally friendly, post lethality, non-thermal, organic "Clean Step" that eliminates pathogens and dramatically extends the shelf life of seafood without affecting the taste, texture, color or nutritional value of the product. The end product is being marketed under the iPura™ label as "The Highest Standard in Food Safety™."

Information on China Seafood Certification Institute is available at:

Information on GFT is available at:

Forward-Looking Statements

With the exception of historical information, the statements set forth above include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which involve risks and uncertainties. These forward-looking statements relate to matters such as, among other things, product development and acceptance, our anticipated financial performance, business prospects, technological developments, new products, future distribution or license rights, international expansion, possible strategic alternatives, new business concepts, capital expenditures, consumer trends and similar matters. A variety of factors could cause GFT's actual results and future experiences to differ materially from the anticipated results or other expectations expressed in these forward-looking statements, and the reader is directed to GFT's filings with the Securities and Exchange Commission for a discussion of important factors that could cause actual results to differ materially from those in the forward-looking statements. GFT does not undertake any obligation to update or supplement any forward-looking statements to reflect subsequent events or circumstances and cannot assure that projected results or events will be achieved.

Contact Information

  • Investor Relations Contact:
    Michael Shaw
    (559) 589-0100
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