The JV will leverage the spirulina cultivation strengths of EID Parry’s parent company Parry Nutraceuticals and Synthite’s extraction capabilities. Parry Nutraceuticals will market the human nutrition products, while Synthite will handle sales of food colors and additives. The JV plans on spending Rs 40 crore ($624,154) to build a plant in Tamil Nadu.
“Our partnership will offer our customers a high quality, sustainable, supply of phycocyanin blue,” says Aju Jacob, director, Synthite Industries. “Our leading edge technology will allow us to qualify our product as a natural ‘coloring food’ for European markets and as a certified organic product for the US market. We will also explore emerging opportunities in algae extracts for the global health and wellness industry.”