I would like to begin this letter with a little bit of history. As many of you know, ZEA Biosciences started out in the food industry, growing and selling lettuce. However, we quickly realized that the market was very crowded, and the margins were very low.
We shifted our focus to the nutraceuticals industry and became GSFI certified. Our cutting-edge technology, known as the CleanGrow Technology™ (CGT) Platform, optimizes plant growth, giving our nutraceutical customers quality, consistency and scale. But our nutraceutical customers have been slow to react to our contracts, and we began putting together a new strategy.
The crisis of COVID-19 gave ZEA a unique opportunity to move into the pharmaceuticals market. With the help and support of the board members and especially the science board, ZEA has been able to accelerate our progression into this industry. ZEA is the only one in this space.
At ZEA, we are uprooting medicine by growing plants and using our proprietary technology to produce medicinal plant products and offer superior data analytics in what is a $400 billion dollar market.
As we move forward, we are raising the bar again. We are planning to rebuild our clean room, upgrade our SOPs and work toward FDA approvals. This is the next phase of our growth, and we are happy that you are joining us.
Once again, I want to thank you for your commitment to ZEA. You play a critical role in our success and we are very thankful for your support.
Founder and Chief Executive Officer