This doubling of capacity follows an investment of $20m in its state-of-the-art facility in the Arava Desert, Israel.
This step is only part of the transformation by new owners Grovepoint since the UK investment group acquired control of Algatech in 2013. Grovepoint’s aim is development and capitalisation of the potential business in natural astaxanthin and related products.
“The expansion will be executed in phases, with a substantial part to be completed in 2014,” said Hagai Stadler, CEO of Algatech. “Part of the new plant is dedicated specifically for production of new micro-algae products based on our expertise and capabilities in the micro-algae cultivation process. Innovative technologies will be merged into the current process to increase the facility yield and to reduce costs.”
“This expansion of the production of astaxanthin from micro-algae will allow Algatech to maintain its significant leadership position in existing markets, as well as leverage it to develop new ones,” said Leon Blitz, Grovepoint leading director.
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