Click here for more information about Algenuity
Click here for more information about Liqofluxphenometrics515R1
Visit cricatalyst.com!Evodos Separation Technology Check out more of The Buzz spacer

Cyanotech buying Cellana’s Hawaiian demonstration facility

September 9, 2018
AlgaeIndustryMagazine.com

Cyanotech is buying Cellana’s six-acre production and research facility, known as the Kona Demonstration Facility. Photo: courtesy of biorrefineria.blogspot.com

San Diego, CA and Kailua-Kona, HI-based Cellana, Inc. has signed an Asset Purchase Agreement with Cyanotech Corporation for the sale of Cellana’s six-acre production and research facility, known as the Kona Demonstration Facility (KDF). KDF is located adjacent to Cyanotech’s existing 90-acre site at the Natural Energy Laboratory of Hawaii Authority (NELHA). The acquisition includes all existing equipment and other assets necessary to operate the facility.

The KDF has been used extensively for microalgae research and production since 2009. Following the closing of the transaction, Cyanotech expects to use the facility to expand its research and development capabilities, as well as supplement its production capacity, develop new products and explore new production techniques.

Cellana operates the KDF pursuant to a sublease agreement with NELHA. As part of the Asset Purchase Agreement, Cellana has agreed to assign this sublease agreement to Cyanotech, subject to the approval of NELHA and the State of Hawaii Board of Land and Natural Resources (BLNR). The closing of the acquisition is conditioned upon the approval of NELHA and BLNR, among other standard conditions. Cyanotech expects the transaction to close in the fourth quarter of the 2018 calendar year.

Over the past seven years, Cellana has directed over $30 million of investment, collaborative funding, and grant funding into developing and validating its ReNew™ Algae platform of high-value, non-GMO algae strains rich in omega-3 nutritional oils, proteins, pigments, polysaccharides, and fuel-grade oils. During this time, Cellana has produced over 10,000 kilograms of ReNew™ Algae at KDF in Hawaii for processing and testing of multiple high-value and high-volume biomass components, including multi-ton quantities of its leading commercial algae strain KA32.

In May, 2018, Cellana signed a term sheet for $27 million of debt-based project financing with an undisclosed project financing partner for a proposed 54-acre commercial algae facility to be located adjacent to KDF. The proposed 54-acre commercial algae facility is expected to produce 700 to 800 metric tons of KA32 algae (on a dry weight basis) annually.

“KDF was designed to allow Cellana to identify, develop, and demonstrate commercially significant yields of algae strains for large-scale commercialization,” said Martin Sabarsky, Cellana’s Chief Executive Officer. “This mission has been successfully accomplished with Cellana’s leading strain of algae, KA32, and so this is a great opportunity to reduce our current operational expenses while we sharpen our focus on commercialization with our expanding set of commercial and project financing partners.”

More Buzz…

Copyright ©2010-2018 AlgaeIndustryMagazine.com. All rights reserved. Permission required 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.

twittertopbarlinks_eventstopbarlinks_requesttopbarlinks_archives

From The A.I.M. Archives

— Refresh Page for More Choices
Algatech has announced the opening of Algatech Inc., a New York City-based subsidiary created to serve the North American market. The company has appointed Ken Seguine to...
David Erickson writes in the (Montana) Missoulian that Clearas Water Recovery, a Missoula tech company formed eight years ago, has developed a patented process to use alg...
The recent announcement by the U.S. Department of Energy (DOE) of three projects to receive up to $8 million, aimed at reducing the costs of producing algal biofuels and ...
Washington State University researchers have developed a biofilm reactor to grow algae more efficiently, and make the algae more viable for several industries, including ...
Sex self-destruction represents a fascinating new scientific mystery that includes climate chaos, ghost forests, temperature spikes, fierce storms, colossal nutrient coll...
Trade Arabia reports that the Oman Centre for Marine Biotechnology (OCMB) recently signed a memorandum of understanding with Swedish Algae Factory to support the domestic...
Israeli-based Algatechnologies, Ltd. (Algatech) has become the major shareholder in Supreme Health New Zealand, Ltd. (Supreme) to supply the rapidly growing markets in Ch...
JapanNews.com reports that Euglena Co., a Tokyo-based maker of nutritional supplements, is spending ¥5.8 billion ($5.3 million USD) on building a test refinery that conve...
Global EcoPower (GEP), of Aix-en-Provence, France, has signed a 5-year partnership contract with the French Alternative Energies and Atomic Energy Commission (CEA). This ...
Alexander Richter writes in thinkgeoenergy.com that Israel-based Algaennovation last week signed a 15-year contract with Icelandic energy utility and operator ON Power fo...
Milenio.com reports that BiomiTech, a Mexican company, won a prestigious innovation award for its air purification system at the Contamination Expo Series 2018 held in Bi...
AlgaEnergy, a Spanish biotechnology company specializing in the production and commercial applications of microalgae, and Yokogawa Electric Corporation, a leading provide...