Algae.Tec is pleased to announce that following successful algae growth trials the Company has commenced the expansion of its development and manufacturing facilities in Cumming, Georgia, and the building of an initial small scale plant for the production of algae for the nutraceutical market.
The current global market for all nutraceutical products is in excess of $200 billion per year with 50% of the global market being in the United States. Nutraceuticals are defined as primary nutrients for food products that not only supplement the human diet, but also facilitate the prevention or treatment of diseases and disorders.
On completion, scheduled to be within 6 months, it is expected that this initial plant will produce algae at the rate of 50,000 kilos per year and generate revenues of $1 million per year. It is planned that this initial production will be increased in stages to achieve a total production capacity up to 2,000,000 kilos per year.
The Company’s algae development and manufacturing centre in Cumming, GA. is an ideal locationfor implementing this plant, taking advantage of the significant resources already in place and the readily accessible market. Incremental expansions of algae production capacity in Cumming will be funded by generated cash flow and equity, and will be followed by plants in different geographic locations including Australia.
Algae.Tec’s main focus remains the production of algae for renewable diesel and aviation biofuels, and carbon capture and use, whilst the nutraceutical division will produce near term positive cash flow.
The Algae.Tec’s main focus and resources are still concentrated on its contracts for developing its technology and building plants for the production of algae for renewable diesel and aviation biofuels, and carbon capture and use, however this nutraceutical plant division will revenue and positive cash flow and profits in a short time scale whilst diversifying the Company’s customer and product base.
Algae.Tec is an advanced algae products company focused on commercializing technology that produces algae to manufacture sustainable products including proteins and oils such as biofuel.
Algae.Tec was founded in 2007 with offices in Atlanta, Georgia and Perth, Western Australia. We have a highly experienced global team with over 200 years of technical, professional and business expertise in key energy and environmental industries and core competencies in algae production, biofuel technologies, energy markets, project commercialization and business management.
Our algae technology has demonstrated exceptional performance, providing step-change improvements in productivity, product yield, carbon dioxide sequestration, plant footprint requirements and substantial capital/cost savings versus agricultural crops and other competitive algae processes in the industry.
Algae.Tec has strategic partnerships with; the Manildra Group, Lufthansa, Holcim Lanka Ltd and the Shandong Kerui Group Holding Ltd.
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