[ad#The Buzz Sponsor Ad]

Algaetech signs financing deal for Haematococcus scale-up

September 3, 2013
AlgaeIndustryMagazine.com

Algaetech

L-R: Engku Husain Hazmi Engku Embong, Vice President, Credit Management Division (MDV), Nizam Mohamed Nadzri, Senior Vice President, Corporate Planning & Communications & Business Division (MDV), Y.Bhg Datuk Md. Zubir Ansori Yahaya, Managing Director/Chief Executive Officer (MDV), Dato’ Paduka Syed Isa Syed Alwi, Founder & Managing Director (AISB), Chock Eng Tah, Director (AISB), Hj. Asmadi Md Said, Director (AISB), Peter Wong Chuan Keat, Director (AISB), Tengku Sharifah Sophia, Project Assistant (AISB)

In line with its vision of becoming a global player in the nutraceutical industry, Algaetech International Sdn Bhd (AISB) has been awarded a project financing facility of RM20 million (~$6 million USD) by Malaysia Debt Ventures Bhd.

Over the past six years, AISB has pursued commercialization of Haematococcus, a microalga from which the super antioxidant, Astaxanthin, is derived. This project financing agreement will facilitate the production of 42 tons/year of Haematococcus biomass.

According to the founder and Managing Director of AISB, Dato’ Paduka Syed Isa Syed Alwi, “Being awarded the facility is a major event that has placed the company on the launch pad to global markets.”

More Buzz…

HOME Algae Industry Jobs

Copyright ©2010-2013 AlgaeIndustryMagazine.com. All rights reserved. Permission granted to reprint this article in its entirety. Must include copyright statement and live hyperlinks. Contact editorial@algaeindustrymagazine.com. A.I.M. accepts unsolicited manuscripts for consideration, and takes no responsibility for the validity of claims made in submitted editorial.

From The A.I.M. Archives

— Refresh Page for More Choices
In a radical pivot, algal fuel pioneer Solazyme Inc. will be changing its name to TerraVia™ to reflect a new focus on food, nutrition and specialty ingredients. A pioneer...
A $300,000 greenhouse will be constructed, and the Maine Algal Research and Innovation Accelerator (MARIA) will be formed, on the Bigelow Laboratory for Ocean Sciences' c...
The GNT Group, a market leader in using algae as natural ingredients for color, has begun construction of an additional spirulina plant at its headquarters in Mierlo, the...
Benedict O’Donnell writes in the EU Research and Innovation magazine, Horizon, about research being developed on seaweed as a biological, environmentally friendly, sustai...
Karen Phillips writes for deeperblue.com that algae are the alveoli in the ocean lungs of our planet, vitally important to the health of the seas as home, food source, sa...
Agcore Technologies LLC, producer of Agcore Spirulina, has announced that their 2016 expansion project to support their growing aquafeed demand is in the completion proce...