Absolem Extractions partner with AREV for mushroom extraction

Canadian firm Absolem Health’s subsidiary Absolem Extractions has signed a definitive agreement with ingredients producer AREV Brands International for mushroom extraction solutions.

AREV produces and delivers functional compounds and ingredients which are used in the development of food and sports nutrition products.

AREV Brands International CEO Michael Withrow said: “We are honoured to have been selected to be the extraction company of choice by Absolem.

“The team at Absolem has identified what we believe to be massive growth in natural medicines and we are delighted to be part of this innovation. This collaboration will hopefully lead to another line of branded ingredients and formulations produced by AREV and build on our revenue stream.”

Through this new partnership, Absolem Extractions aims to become one of the leading solution providers for functional extractions of mushrooms and serve the fast-growing functional foods market.

The completion of the deal is subject to the approval of the Canadian Securities Exchange (CSE). Both companies have said that further details regarding the terms of the definitive agreement will be released once the deal is finalised.

Absolem CEO Ken Kuiper said: “We are excited about the growing global interest in functional mushrooms and believe we could become leaders in commercial extraction. We believe with AREV’s expertise in extractions we will be successfully in doing so.”

Absolem Health recently acquired One Up Pure Energy, which is engaged in the production of functional mushroom snacks, teas, powders and development of mushroom-based meat alternative protein product.

One Up Pure Energy also manufactures mushroom power pellets called ‘The Reishi Relax’ and ‘Cordyceps Power Up’.