Hilco is seeking offers to acquire the intellectual property and tangible assets of CO2i Limited (“DryGro” or the “Company”) on behalf of the Liquidators of the Company, Jeremy Karr and Simon John Killick of Begbies Traynor (Central) LLP.
DryGro has distinguished itself in the agri-tech industry by developing an innovative system to produce plant-based protein from water lentils, also known as duckweed, which is known for its rapid growth and high protein content. This crop thrives in non-arable, arid environments, making it an ideal candidate for sustainable agriculture on underutilised lands. The Company’s forward-thinking approach leverages proprietary technologies to harness underutilised landscapes for sustainable food production, addressing critical global challenges like food security and environmental sustainability.
DryGro’s success is underpinned by its robust intellectual property portfolio, which includes advanced genetic modifications and cultivation techniques specifically designed to enhance the yield and nutritional value of water lentils. The Company holds several key patents that protect its innovative closed greenhouse systems and climate buffering technologies, which are crucial for maintaining optimal growing conditions, which significantly increase crop reliability and productivity.
Prior to Liquidation, DryGro established strategic alliances with prominent research institutions such as Rothamsted Research, the University of Hertfordshire, and the University of Greifswald. The Company’s partnerships were integral to advancing DryGro’s genetic research and crop production capabilities. Collaborating closely with these institutions, DryGro developed high-yield water lentil clones tailored to thrive in harsh environments while producing consistent, high-quality outputs, enabling DryGro to refine its water lentil varieties to optimise both protein content and growth rate, ensuring the crops meet the increasing market demands for high-performance plant proteins. These institutional partnerships have been crucial in enhancing the scientific foundation behind DryGro’s innovative agricultural practices.
DryGro’s technology and registered intellectual property are supported by a comprehensive repository of testing data, documentation, and research, alongside an extensive inventory of Lemna, providing potential buyers with invaluable insights that can drive further innovation and increase efficiency in water lentil production.
This acquisition opportunity represents a strategic opportunity to enter the burgeoning market for sustainable, plant-based proteins, capitalising on the global shift towards environmentally friendly food solutions. By integrating DryGro’s innovative agricultural technologies and extensive intellectual property into their operations, a potential purchaser can leverage a proven, scalable model that is well-positioned in the rapidly expanding sector of sustainable agriculture.
DryGro established itself as a pioneering leader in sustainable agriculture, specialising in the innovative cultivation of water lentils, also known as Lemna. Renowned for its sustainable solutions that enable plant-based protein production on non-arable, arid lands, DryGro leverages proprietary technologies to maximise efficiency and minimise environmental impact.
The brand’s credibility has been enhanced by its successful partnerships with esteemed research institutions like Rothamsted Research and the University of Hertfordshire. The Company’s collaborations have not only strengthened DryGro’s reputation for developing high-performance, sustainable crop solutions but also underscored its role as a trailblazer in addressing global food security and sustainability challenges.
DryGro’s innovative approach to optimising water lentil cultivation and improving their nutritional quality has garnered significant recognition. The Company has received several accolades, including awards at Venturefest Oxford 2016, and secured funding through Innovate UK’s Agri-Tech and Energy Catalyst programs, attesting to DryGro’s impactful contributions to agricultural technology and bolstering its status as a trusted and influential brand in the agri-tech sector.
The Company holds a portfolio of 9 registered trade marks covering the “DryGro” brand name, with international coverage. The Company also likely holds unregistered rights in the “DryGro” logo.
Full details on the Company’s trade marks are available via a virtual data room.
At the core of DryGro’s intellectual property portfolio is a collection of patents critical for the advanced cultivation and processing of Lemna (duckweed). The Company’s patents primarily cover greenhouse designs that regulate environmental conditions essential for optimal plant growth, including passive climate control technologies that stabilise the microenvironment within cultivation systems, mitigating external climate variability – a significant advantage for agricultural production in challenging environments. Beyond greenhouse designs, the Company holds patents and pending applications relating to specialised growing techniques that enhance nutrient delivery, water recycling, and climate adaptability, which improve sustainability by reducing input requirements and maximising yield efficiency. DryGro has also protected aspects of post-harvest processing, covering techniques to optimise drying, milling, and refining to preserve the nutritional integrity of Lemna for use in protein applications. The Company’s granted patents ensure enforceable protection in key jurisdictions, while pending applications offer opportunities for continued expansion of the IP portfolio.
Full details on the Company’s patents are available via a virtual data room.
The Company holds a meticulously organised and well-documented suite of documentation relating to its advanced agricultural technologies and operational strategies, including detailed data, drawings, designs, and documents crucial for the development of DryGro’s innovative growth systems and post-harvest processing techniques.
Additionally, the portfolio covers techno-economic modelling and standard operating procedures that provide deep insights into the operational efficiencies and economic viability of DryGro’s technologies, crucial for understanding the full scope and potential of the technologies developed by DryGro. The Company also holds lab notebooks, test results, and documentation relating to the proprietary processes essential for the cultivation and processing of Lemna, centrally stored on Google Drive with additional data maintained on Airtable.
The primary drygro.com domain name is available to acquire.
The Company owns the copyright in the website content previously hosted at https://web.archive.org/web/20240225023702/https://drygro.com/, showcasing the business and its advanced agricultural technologies.
Rights in the social media accounts are also available to acquire across LinkedIn and Twitter.
Full details on the Company’s social media accounts are available via a virtual data room.
The Company maintains a detailed record of the research institutions it has collaborated with, complete with names and contact information of key individuals within relevant departments.
A range of advanced agricultural equipment and state-of-the-art office and computer equipment are available for acquisition.
Full details on the Company’s tangible assets are available via a virtual data room.
Offers are due Monday 14 April 2025, 4pm BST.
All expressions of interest and bids are to be directed to Hilco in writing. A Bid Submission Form is available on request. Please contact Hilco to gain access to a virtual data room of further information on signing a confidentiality agreement.
The bidder acknowledges that Hilco act as an agent for the Company, pending liquidation and the appointment of the Liquidators, offering for sale only what right, title and interest (if any) the Company possesses in the assets. Such sale will be without any warranties, expressed or implied. The information provided has not been verified by Hilco or the Liquidators, and bidders are deemed to have carried out their own due diligence.
VAT, if applicable, at 20% will be added to the price. A non-refundable deposit of 20% will be payable by the buyer within 48 hours of bid acceptance. A buyer’s premium of 10% of the sale price is payable by the winning bidder. Legal completion to occur within 5 business days of bid acceptance. Hilco’s full Terms and Conditions apply.
Associate Director
Manchester Office
