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BioLyco SIGNED

Biologic Lycopene from Tomatoes

Total Cost €

0

EC-Contrib. €

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Partnership

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Project "BioLyco" data sheet

The following table provides information about the project.

Coordinator
LICOFARMA SRL 

Organization address
address: STRADA PROVINCIALE 362, 90
city: GALATINA
postcode: 73013
website: n.a.

contact info
title: n.a.
name: n.a.
surname: n.a.
function: n.a.
email: n.a.
telephone: n.a.
fax: n.a.

 Coordinator Country Italy [IT]
 Project website https://organic-lycopene.com
 Total cost 71˙429 €
 EC max contribution 50˙000 € (70%)
 Programme 1. H2020-EU.3. (PRIORITY 'Societal challenges)
2. H2020-EU.2.3. (INDUSTRIAL LEADERSHIP - Innovation In SMEs)
3. H2020-EU.2.1. (INDUSTRIAL LEADERSHIP - Leadership in enabling and industrial technologies)
 Code Call H2020-SMEInst-2018-2020-1
 Funding Scheme SME-1
 Starting year 2019
 Duration (year-month-day) from 2019-02-01   to  2019-07-31

 Partnership

Take a look of project's partnership.

# participants  country  role  EC contrib. [€] 
1    LICOFARMA SRL IT (GALATINA) coordinator 50˙000.00

Map

 Project objective

Licofarma aims to be the first company to bring on the market Organic Lycopene, produced without chemical solvents from fresh organic-certified tomatoes, through a unique, internationally patented process technology. Lycopene is an antioxidant compound very important for human health, preventing a number of life-threatening and chronic diseases. Despite its benefits, Lycopene has two problems: it has to be taken through diet, as the body cannot produce it, and current production processes involve chemical solvents and toxic impurities. Licofarma patented technology extracts Lycopene from organic- quality tomatoes without any chemical solvents, using only CO2 in supercritical conditions. The end product has unmatched quality features: absence of toxic agents and impurities, high bioavailability, high antioxidant and cancer-prevention properties, high-quality food colouring, 100% natural and organic certification and environment-friendly and safe production process. Competitor products are Synthetic lycopene from chemical synthesis, which has lower cost, high presence of toxic agents and poor quality, and Natural lycopene from tomatoes, which has average cost, still toxic agents and lower quality than Licofarma’s product. Both products cannot be organic certified and have high impact on environment and safety. Organic Lycopene will be offered on the market in bulk form, for producers, and directly to consumers as ingredient of dietary supplements and ophthalmic products. The Lycopene production market value is foreseen at 84M€ in 2018 (300 tons/year) with yearly growth higher than 3%. Licofarma target is to reach an annual production of about 10 tons/year (3,2% share). The product will boost growth of the company, generating almost 40M€ cumulated revenues in 5 years and creating 16 new jobs. The total financial requirement amounts to about 5M€, of which 4.3M€ in tangible assets over 2 years, with an internal return rate of over 50% and Net Present Value of 14M€.

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The information about "BIOLYCO" are provided by the European Opendata Portal: CORDIS opendata.

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