In France, Algaia, S.A., will accelerate development and install a new specialty seaweed extract production unit in its Lannilis manufacturing facility dedicated to specialty algae extracts. Algaia works with local fishermen to harvest brown algae just a few kilometers from its plant to ensure a constant fresh local supply of seaweed biomass.
Algaia intends to install a new specialty algae extract production line based on innovative technology developed in the past three years. And, the new production unit will expand Algaia’s portfolio beyond traditional seaweed extracts, adding functional liquid products for the Ag-tech market.
Algaia’s main shareholder, Maabarot Products Ltd., infused €4 million in equity to support expansion of its production facility and innovation center located in Saint-Lo. “We are pleased with the rapid growth of Algaia,” said Eyal Shalmon, Chairman of Maabarot Products Ltd. “We continue to strive to position Algaia as a leader in the algae extracts market.”