01
Rice intellectual property
2025 unaudited company accounts record a £1 billion carrying value for the rice production IP, based on external valuation work and Board accounting judgements.
Investments
Commercial foundations.
Long-term ambition.
An integrated agricultural development proposition grounded in rice intellectual property, operational development rights and signed sales agreements.
The proposition
Three linked foundations
The commercial proposition depends on converting documented capability into financed production and reliable delivery.
02
Infrastructure & programme rights
The April 2026 management accounts pack presents £30.913m of tangible infrastructure and £35.559m of contracted programme rights, subject to verification of underlying schedules and ledger classification.
03
Contracted demand
Three signed rice sale agreements dated March 2026 form the current commercial reference; settlement, production and buyer banking remain subject to execution and diligence.
The commercial agreements
240,000 tonnes annually.
Three signed agreements.
Following a CEO-directed contractual review to remove ambiguous terms and secure formal ratification, the earlier c.£440 million arrangements were superseded by three March 2026 rice sales agreements.
3 × 80,000 tonnesAnnual contracted quantity
US$560 / tonneContractual unit price
20 yearsContractual duration
US$2.688bnNominal undiscounted contract arithmetic
The stated value is not recognised revenue, a guarantee of payment, an asset valuation or proof of buyer financing capacity. Letters of credit and contractual rights are subject to appropriate verification.
Capital strategy
Investment and capital formation
The company remains pre-revenue and founder-funded. The initial capital phase would address assurance, financeability and operational controls before materially larger development and deployment commitments.
Current management priorities
- Strengthen financial and legal verification
- Establish robust treasury and programme-control arrangements
- Validate production and commercial execution assumptions
- Engage qualified capital providers on phased financing
Investor diligence
- Ownership, use and enforceability of IP rights
- Recognition and valuation of subsidiary assets
- Offtake counterparties and financing instruments
- Nigerian operating, regulatory and repatriation risks
Evidence before valuation rhetoric.
Reports & Milestones ↗Inspect the underlying reporting documents and their stated scope.