LOTTE Confectionary Co. Ltd. and Aspire Food Group Ltd. ("Aspire") have signed an MOU to formalize their cooperation in the distribution and promotion of crickets as food. The MOU confirms Aspire's desire to have LOTTE act as exclusive distributor to distribute and sell products produced by Aspire and LOTTE Confectionary in key markets in Asia as well as Europe.LOTTE and Aspire agreed to identify potential opportunities for the establishment of a large-scale commercial facility
for the production and processing of cricket species approved for consumption in Korea. Aspire and LOTTE Confectionary will work together on certain R&D activities including the farming of insects for food and feed and the nutritional and functional value of insects as an alternative food and feed source. The visit of LOTTE Confectionary was led by Mr. Young goo Lee. The senior delegation of LOTTE representatives toured Aspire's new commercial facility in London, Ontario. A signing ceremony was held at the plant. The new facility showcases advanced industrial lights-out automation, distributed IoT data collection, robotics, and
an internationally recognized AI solution developed specifically for the production process.