In April 2013, Raisio and Intellectual Ventures (IV) decided to establish a joint venture called Benemilk Ltd in Finland. The joint venture aims to develop and strengthen the intellectual property rights portfolio related to the Benemilk® invention and to commercialise the invention for global markets.
Raisio transferred the Benemilk invention to the joint venture, which granted Raisio a royalty-free, exclusive license to the invention and its future applications in Finland. Benemilk feed sales in Finland are reported in Raisioagro's figures. The joint venture Benemilk Ltd is reported as part of Raisio's Licensed brands unit together with Benecol.
Benemilk – Raisio's top innovation to dairy farms
Processing of Benemilk patent applications progressing as planned
At the end of July 2013, Benemilk Ltd filed a total of 10 new international patent applications related to the Benemilk invention. Some of the applications are for new innovations and all related to the Benemilk invention. The initial patent applications filed in February 2012 became public on 1 August 2013. They are related to the Benemilk compound feeds and concentrates as well as to improved milk composition. The processing of Benemilk patent applications is progressing as planned.
Fish feed invention offering many opportunities
At the end of December 2013, Benemilk Ltd filed a patent application regarding a Finnish fish feed invention in the USA and is starting the commercialisation of the invention. The patent application concerns the fish feed, developed by the Finnish Game and Fisheries Research Institute, in which fish oil can be replaced by more ecological and affordable rapeseed oil while maintaining the quality and health benefits of the fish and ensuring products that meet consumer needs.
The world's largest producers of farmed salmon are Norway, Chile, Canada and Scotland. Salmon farming is a growing industry increasing at a rate of about 9 per cent annually. The USA is among the largest consumers of farmed salmon.
Fish feed invention enhancing production chain and improving profitability
Raisioagro has been a key partner for the Finnish Game and Fisheries Research Institute in the development process of the new fish feed. The company is already using the new method. Our concept Hercules LP Opti has been very well received by the customers in Finland. Salmon feeding regimens can incorporate more plant-based ingredients without reducing the nutritional values of the fish. With the invention, both the profitability and ecological sustainability of salmon farming will improve as the use of wild fish oil can be significantly reduced.
IV is the world's leading invention capital company, specialising in the creation, management and monetisation of inventions and intellectual property rights. The company manages more than USD 5 billion in investment capital and has generated more than USD 2 billion in licensing revenue. IV has more than 40,000 patents and patent applications in its portfolio. IV employs more than 800 people globally and works together with more than 4,000 outside inventors around the world.
Intellectual Ventures has used its international ecosystem of thousands of inventors and hundreds of organizations in solving of several complex global problems. This has included several areas related to the agriculture supply chain, such as food safety, quality, efficiency, environmental impact and innovation. Many global challenges are related to large-scale food production and efficiency.
Benemilk Ltd's ownership and development of operations
Raisio's group company Nordic Feed Innovation owns 75% and Intellectual Ventures (IV) 25% of the joint venture Benemilk Ltd. Raisio owns 76% and Finnish Food Chain Development Oy 24% of Nordic Feed Innovation Oy.
Operations of Benemilk Ltd will be steered so that, in addition to the Benemilk innovation, the company will also commercialise other innovations and related IPR in the food and agriculture sector. Together with academia, we aim to innovate solutions for the global challenges facing the food and agriculture sector.
Farmers' experiences with Benemilk