Ms. Penny White reports
YIELD GROWTH ANNOUNCES APPOINTMENT OF VIVEK TANEJA AS VP, OPERATIONS OF SUBSIDIARY FLOURISH MUSHROOM LABS
The Yield Growth Corp. has appointed chemical engineer Vivek Taneja as vice-president, operations, of its subsidiary, Flourish Mushroom Labs Inc., to oversee the commercialization of the company's functional mushroom products, beginning with organic mushroom coffees. Mr. Taneja will also be part of the team developing clinical trials to research innovative therapeutic uses of certain compounds in magic mushrooms.
Mr. Taneja is an accomplished chemical engineer with more than 24 years of project management experience, including expertise in pilot plant and scale-up studies, production management, and technical project leadership. Prior to his appointment at Flourish Mushroom Labs, Mr. Taneja was the project manager for over $150-million of engineering design and construction projects for global companies including Coca-Cola, Nestle Water and Minute Maid.
Mr. Taneja has been promoted to vice-president, operations, from a consultancy position with Flourish Mushroom Labs. His recent accomplishments at Flourish Mushroom Labs include further development of the company's mushroom coffees with the director of research and development, Bhavna Solecki. All raw ingredients have been sourced for four blends of mushroom-infused coffees, packaging materials have been selected and the review of suitable manufacturing facilities is in progress.
"Drawing on years of experience in the food and beverage industry, Mr. Taneja will provide excellent oversight of our commercialization activities at Flourish Mushroom Labs," said Penny White, president and chief executive officer.
"I see huge potential for the organic mushroom products we are developing," said Mr. Taneja. "With recent research, the functional and medicinal uses of mushrooms are becoming more prominent in the marketplace. Flourish is positioning itself by developing a wide range of products to meet consumer demand."
The global functional food market is forecasted to reach $34.3-billion (U.S.) by 2024, according to a report by Research and Markets.
On Oct. 21, 2019, a press release by Fortune Business Insights entitled, "Why the Functional Mushrooms Market is set to explode," predicted that the global functional mushrooms market will gain momentum from growing awareness of the health benefits of mushrooms. According to the report summary, functional mushrooms have several functional properties that can be utilized in the production of food products, medicines and cosmetics. Being rich in antioxidants, they can offer skin-enhancing benefits, aid immune and digestive function, and can balance energy levels.
About Flourish Mushroom Labs Inc.
Created by and incubated by the team at Yield Growth, Flourish Mushroom Labs aims to be a leader in the fast-growing functional foods market and improve life by offering high-quality mushroom-infused products that naturally support better health. Flourish Mushroom Labs is investigating patentability of innovative therapeutic uses of magic mushrooms and plans to research into therapeutic benefits of some of the compounds found in magic mushrooms through clinical trials.
About The Yield Growth Corp.
Yield Growth is building and operating hemp, cannabis and edible mushroom assets in what the Global Wellness Institute reports is a $4.2-trillion global wellness market. It owns the cannabis wellness brands Urban Juve, Wright & Well and Jack n Jane. The Yield Growth management team has deep experience with global brands including Johnson & Johnson, Procter & Gamble, M.A.C Cosmetics, Skechers, Best Buy and Aritzia.
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