SEED Innovations Ltd (AIM:SEED, OTC:FFRIF)'s Ed McDermott joins Proactive to talk about the company's investment in Clean Food Group.
It paid an initial £46,000 for 4.6mln shares in March 2022 during a seed round, while it bought a further 1.25mln shares for £125,000 in a 'friends-and-family' round.
SEED now holds 5.85mln shares, representing a 5.38% stake in Clean Food, which was co-founded by McDermott in 2021, with an implied value of £585,000.
Clean Food’s main goal is to develop a sustainable alternative to palm oil.