Algatechnologies joins FoodConnects consortium
November 30, 2016
lgatechnologies Ltd (Algatech), of Kibbutz Ketura, Israel, has become part of the FoodConnects consortium, as winner of a pan-European competition for the Food4Future project. This Knowledge and Innovation Community (KIC) sponsored project has broad coverage in EU member states and associated countries, being a unique partnership of 50 leading companies, universities and scientific organizations covering the entire food value chain.
Algatech was chosen by the KIC leaders to be the sole algae player participating in the €1200 million initiative. It will work within the European Institute of Innovation and Technology (EIT) Food sector to develop new food sources from microalgae utilizing its state-of-the-art technologies and expertise.
Each of the consortium partners is committed to jointly transform the ways in which we produce, distribute and consume our food. Over the next seven years, the partners will invest close to 1200 million euros, matched with up to 400 million euros financed by the EIT.
Algatech has initiated discussions with other KIC partners to review and select innovative algae sources with important nutritional properties as potential food sources.
“The EIT Food program meets our vision to invest in the development of unique microalgae ingredients which can improve nutrition for human well-being,” said Hagai Stadler, CEO of Algatechnologies. “Microalgae contains key ingredients for humans and will become an increasingly important element of our future diet. We consider it an honor to be invited to join such a notable group, and are totally committed to playing our part as we work towards mutual success.”
Peter van Bladeren, Vice President of Nestec, Global head Regulatory and Scientific Affairs for Nestlé, and Chair of the Interim Supervisory Board of EIT Food, said that, “EIT Food is committed to create the future curriculum for students and food professionals as a driving force for innovation and business creation; it will give the food manufacturing sector, which accounts for 44 million jobs in Europe, a unique competitive edge.”
Algatech, develops and produces active ingredients sourced from microalgae, including AstaPure® natural astaxanthin, derived from non-GMO microalgae grown in sustainable, environmentally green, closed-cultivation systems powered by natural sunlight. The company is a founding member of the Natural Algae Astaxanthin Association (NAXA), and holds Kosher, Halal, ISO 9001/2000, HACCP and GMP international accreditations.