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 ©2010-2019 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
The Utah Science Technology and Research (USTAR) initiative, a technology-based economic development program funded by the state of Utah, has awarded a $175,320 grant for...
42 Technology has been appointed by LabXero, acoustic particle filtration technology company, to help develop pilot-scale biomanufacturing equipment that could significan...
Cody Nelson writes for MPRNews.org that a team of University of Minnesota-Duluth researchers wanted to know how shortening winters — and less ice cover on lakes — might i...
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...
Hayley Dunning writes from the Imperial College of London that a new discovery has changed our understanding of the basic mechanism of photosynthesis and should rewrite t...
Amy Thompson writes in Space.com that SpaceX successfully launched its 15th Space Station cargo-resupply mission on Friday, June 29; carrying a payload of experiments des...
Researchers at Los Alamos National Laboratory and partner institutions have provided the first published report of algae using raw plants as a carbon energy source. The r...
Sophie Kevany writes in Decanter.com that a group of vineyards in France’s Bordeaux and Cognac regions are exploring whether algae can be used to prevent the fungal infec...
The Swiss Algae Consortium Association (SWALG) was founded in May 2018 as a non-profit organization that serves as a platform for algae-related activities in Switzerland ...
AlgaEnergy, a Spanish biotechnology company specializing in the production and commercial applications of microalgae, and Yokogawa Electric Corporation, a leading provide...
Jason Huffman writes in UndercurrentNews.com that the Kampachi Company, a mariculture business focused on expanding the environmentally sound production of sashimi-grade ...
Steve Fountain writes in fortstocktonpioneer.com that, amid the 800-page law that last month set the country’s farm policy through 2023, is the expansion of federal suppo...