British private equity firm Grovepoint Capital has acquired control of biotechnology company Algatechnologies Ltd. at a value of $50 million. Founded by Kibbutz Ketura in 1998, Algatechnologies commercially cultivates the microalgae Haematococcus pluvialis to supply a powerful antioxidant – astaxanthin.
Algatechnologies was founded on the basis of research by Prof. Sammy Boussiba at Ben Gurion University of the Negev Landau Family Microalgal Biotechnology Laboratory, and the company is run by chairman Ed Hofland and CEO Hagay Tzur. The company’s shareholders are Kibbutz Ketura and the Jewish Colonization Association.
Tags: AstaPure, pharmaceuticals, Israel, microalgae-based biological substances, agriculture, food , water, energy, cleantech
Source: Globes, 2013-02-10.