Advanced crop technology company E Green Global Co. 
Ltd.(https://www.eggtuber.com/) (EGG) announced today that it has raised 
additional equity funding from ADB Ventures(https://ventures.adb.org/), the 
venture capital arm of the Asian Development Bank (ADB). EGG has secured $15M 
Series B funding in total, including an investment from the YD-SK-KDB Social 
Value Fund, to scale its agri-biotech platform for the potato industry.

Potatoes are the world's fourth-largest food resource. Potato farmers, however, 
often lack access to quality seed potatoes, resulting in significantly lower 
and more volatile yields. Traditional seed potato production is costly, limited 
to one or two harvests a year and is prone to diseases, weather conditions, and 
climate impacts. As a result, less than 10% of the global potato seed supply is 
certified good quality and disease-free.

EGG has developed the world's first platform for successfully producing 
high-quality lab-grown seed potatoes (Microtubers) at commercial scale. EGG 
uses patented tissue culture technology to mass produce and continually harvest 
disease-free Microtubers throughout the year in bio-secured plant factories. 
The Microtubers are machine-planted directly in the field to produce the seed 
potatoes at a much lower cost, with higher productivity, and in a significantly 
shorter time span compared to any other conventional method.

This game-changing breakthrough was recognized in September this year when EGG 
won the prestigious PotatoEurope's Golden Innovation Award in recognition of 
the company's innovation and widespread impact in the potato market.

"EGG is the first company that effectively enables 'Lab to Farm' commercial 
seed potato production on a global scale. We believe that EGG's Microtubers 
technology can supercharge efficiency for potato farmers and processors by 
enabling faster, better, and cheaper crops in Asia-Pacific and across the $144 
billion global potato market," said Minsoo Kim, ADB Ventures Investment 
Specialist.

Now, after working with some of the largest potato producers and processors 
across China and North America, EGG is leveraging its partnership with ADB 
Ventures to further scale into developing markets in the Asia-Pacific, where it 
intends to produce more than 6 million tons of disease-free potatoes while 
eliminating 1.8m tons of CO2 equivalent, which is equal to removing 900,000 
cars from the road for one year, from potato farming by 2025.

"We are thrilled to receive ADB Ventures's vote of confidence in our 
proprietary Microtuber Technology. It gives us renewed momentum to improve the 
yields of farms and the security of food supplies across Asia and the Pacific," 
said Keejoon Shin, CEO, EGG.

EGG will also deploy the invested funds to develop similar technologies for 
other key crops, including sweet potatoes, cassava, onion, and garlic. The 
company's ultimate ambition is to scale its solution globally and, to this end, 
it is planning an additional expansion into markets including Europe, Africa, 
Middle East and Central Asia.

SOURCE:  E Green Global Co. Ltd. (EGG)