Veratin files for patent, progresses global expansion efforts

NSX-listed manufacturing company Veratin (NSX: VTN) has been “kicking goals” through patent applications, growing its online and physical presence, and the launch of new products to the market.

Recently, the Perth-based company announced it has filed a provisional patent titled, “Alcoholic and non-alcoholic fermented products and method of preparation”.

The patent covers the use of wool as a source in fermented alcoholic and non-alcoholic products.

On top of this, Veratin has also filed a Trademark for “Baa Baa” beverages, a brand which offers alcoholic and non-alcoholic drinks.

Veratin executive chairman Dr Ramiz Boulos said the company’s breakthrough has opened the door for new ways to use wool.

“I am extremely pleased with this development, which unlocks the use of wool as a sustainable and novel protein source in food products,” he said.

“This ground-breaking discovery will allow us to bring to the market for the first time the Baa Baa range of alcoholic and non-alcoholic beverages”.

“The significance of this invention however reaches far beyond food products and will allow us to develop products in other industries, including agricultural”.

This is none more evident than through the recent release of Veratin’s new product, Verigrow potting mix, which incorporates amino acids from sheep wool.

Grows presence through online stores

Veratin recently announced it has set up Shopify and eBay stores in a bid to promote its range of Verigrow products and set up the foundation for its overseas expansion.

The company’s strategy is to reach a wider customer base through opening additional online stores to complement its existing Alibaba store.

“The launch of these e-stores compliments our Alibaba store and lays the foundation for our international growth,” Dr Boulos said.

“Via these platforms, we are now able to ensure the benefits of Verigrow flow to home gardens in new markets.”

Adds to blooming Verigrow range

The manufacturing company announced it has launched another product to complement its existing Verigrow product range, releasing Verigrow potting mix.

The mix is made up from amino acids from sheep wool, combining to generate a high-quality rich mix.

Dr Boulos said the new product is sustainable from the very start in its product design, through to the end in its packaging.

“Verigrow potting mix comes in sustainable and biodegradable jute bags providing the consumer with the added benefit of giving the bags a second life after consuming the product,” he said.

Veratin’s new product will be showcased at the Perth Garden and Outdoor Living Festival from the 27th to the 30th of October, which attracts hundreds of thousands of onlookers each year.

It marks the company’s first major event to showcase its Verigrow range.

Seeking ASX listing in 2023

The company is hopeful the push for greater exposure will aid in its attempt to become listed on the ASX in 2023.

Veratin has sought independent valuation of the company’s assets as one of the final steps towards an ASX listing.

“Over the last year we have worked hard to build value in the business,” Dr Boulos said.

“I am proud of the team and our accomplishments to date, and I see an ASX listing as the next step in our growth trajectory.”