Press Release

Precision Fermentation Announces Leadership Structure Changes to Execute Growth Strategy

Provider of Craft Beer Industry's First Real-Time, Comprehensive Fermentation Monitoring Solution Reorganizes Executive Roles Following Early Market Success

Durham, North Carolina – January 16, 2019 – Precision Fermentation, a leading biochemistry technology solutions provider, announced today the appointment of Jared Resnick, founder and Chief Operations Officer, to Chief Executive Officer. Former CEO Daniel Kulenic will continue on the executive team as COO. The change in leadership helps better position the company to drive new sales and support an inflow of many new customers. This strategic shift follows the initial Q4 deployments of Precision Fermentation's flagship Internet of Things (IoT) driven fermentation monitoring solution, the BrewMonitor System.

"Daniel and I co-founded Precision Fermentation to help craft brewers leverage real-time fermentation monitoring to improve products, increase operational efficiency, and broaden their creative horizons," said Mr. Resnick, founder and CEO of Precision Fermentation. "Since activating our first customers in 2018, interest in the BrewMonitor System has been overwhelming. We are expanding our operational infrastructure as quickly as possible to meet demand, as more brewers are becoming aware of the incredible value that continuous sampling and data-driven fermentation offers. I am proud of the work we've done to get to this point, and we are excited to get these capabilities into the hands of brewers throughout North America."

"The adjustment in leadership roles is a very positive development for our team," said Mr. Kulenic, co-founder and COO of Precision Fermentation. "From our initial deployments in breweries across the southeast, northeast, and northwest US, the positive reaction from the market has pointed to a need to refocus our organization on the challenges of scale, including manufacturing, development, support, sales, marketing, and human resources. Changing operational leadership can be difficult, but our team has worked so closely together from the start that we anticipate an extremely smooth transition. We are expanding our competencies as a company, and I look forward to providing world-class support for our new customers."

About Precision Fermentation
Precision Fermentation offers a groundbreaking, real-time monitoring solution that dramatically enhances control over the fermentation process for producing brewed beverages. Its flagship product, the BrewMonitor System, continuously live-streams data from an active beer fermentation, offering complete fermentation process visibility and control that entirely replaces trial-and-error measurements and enables excellent product and business outcomes. Learn more at www.precisionfermentation.com.