BlueOcean restarts algae gas infusion subsidiary
February 16, 2017
lueOcean NutraSciences Inc. of Toronto, Ontario, has announced that it will restart its dormant algae gas infusion subsidiary, BlueOcean Algae Inc., targeting commercial omega-3 and astaxanthin-based algae companies.
The Company’s shrimp oil, derived from Newfoundland based cold water shrimp, is rich in astaxanthin and omega-3 due to these shrimp feeding on the same algae and phytoplankton.
BlueOcean has partnered with John Archibald, a founder of Canzone and inVentures Technologies, as well as BlueOcean. Canzone and inVentures have been commercial gas infusion companies since 2000.
The Company continues to own the perpetual rights to royalty-free use of Canzone’s gas infusion patents and inVentures’ gas infusion products upon which the Company IPO’d in 2012. The Technology was proven to accelerate algae growth in 2009-2011 at lab and bench scale at the National Research Council of Canada’s Algae Labs in Sandy’s Cove Nova Scotia, which showed incremental algae yields of up to 300% when grown in CO2 gas dissolved and infused water versus baseline traditional micro-bubbling of CO2 gas.
“BlueOcean’s origin was to service emerging algae companies by accelerating their algae growth rates thereby lowering their fixed and variable costs,” said Mr. Archibald. “With Gavin and his team having now commercialized our astaxanthin and omega-3 rich shrimp oil products, we will now give fresh attention to primarily successful astaxanthin and omega-3 algae companies. The revival of the algae business will require minimal capital or resources.”