AlgaeCytes to build first commercial plant for algae-based tech

In Germany, biotechnology company AlgaeCytes Limited is building its first commercial plant in Dessau, Saxon-Anhalt, Germany which will house AlgaCytes’s unique algae-based technology to produce natural, vegetarian, traceable, high-potency algal EPA, beta-carotene and agricultural crop biostimulant from sustainable sources to serve the nutraceutical, pharmaceutical and food verticals.

The plant will be owned and operated by the Company’s German subsidiary, AlgaeCytes Germany GmbH.

Total investment in the project is expected to exceed €50m, of which more than €11m is secured through Gemeinschaftsaufgabe “Verbesserung der regionalen Wirtschaftsstruktur”, the GRW. The GRW is a major investment program issued by the German Federal Ministry for Economic Affairs and Energy provided as cash incentives to investments in Germany. AlgaeCytes has from its inception received funding and guidance from Deepbridge Capital, a UK based venture capital investment fund manager.

Adrian Neilan, Executive Chairman, AlgaeCytes, said, “This is an exciting opportunity for us to build our first commercial facility. Our expectation is that this will be the first of many operations for us planned over the next 5 years across Europe, the US, the UK and the Middle East. After several years of development and initial production, this facility represents an exciting milestone for AlgaeCytes as we seek to meet the high-demand for our products.  We are excited by our large addressable market and by how our EPA and natural beta-carotene allow our customers to succeed in bringing new innovations to the market.”