Astaxanthin is a natural antioxidant with proven health benefits in several health conditions related to, joint and muscle function, skincare health, cardiovascular health and more, according to the company.
Leon Blitz, CEO at Grovepoint, said: “Grovepoint believes there is significant potential to grow the range of products where astaxanthin is the key ingredient and to fully exploit the potential of microalgae derived products for other commercial applications.
“Grovepoint will be making additional capital available for growing the existing business, marketing the company’s ‘Astapure’ brand around the world and investing in R&D, so that new algae derived products can be brought to market.”
Following the transaction, Grovepoint partners Brad Fried and Leon Blitz will join the Algatechnologies board.
Source: Grovepoint
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