Cyanotech Negotiates Loan for Growth Program

September 18, 2012
AlgaeIndustryMagazine.com

Cyanotechkdropcapsailua Kona, Hawaii-based Cyanotech Corporation, a leader in high-value nutrition and health products made from microalgae, has completed a long-term $5,500,000 loan agreement with Pacific Rim Bank in Honolulu, Hawaii.

The loan proceeds will be used to finance capital improvements, which include new equipment to be used in the processing of its natural astaxanthin and the addition of new administration and warehouse buildings at its Kona, Hawaii facility. The new equipment includes the purchase of supercritical carbon dioxide extraction equipment for which Cyanotech has signed a purchase agreement with Uhde Corporation of America.

“The company is now focused on our own branded consumer products and the international bulk market. We have strengthened our sales, marketing and product fulfillment capabilities. With that underway, we are adding to our processing and production capabilities to meet the growth in demand, as well as to improve our service levels to current bulk and retail customers,” said President and CEO Brent Bailey.

“The extraction process is currently being performed for us by outside partners. Bringing this capability in house will make us a vertically integrated natural astaxanthin supplier and is expected to reduce processing time and lower costs. While these are long-term projects with components being built out over the next 18-24 months, they will significantly strengthen our operational foundation and competitive position,” he added.

More Buzz…

HOME Algae Industry Jobs

Copyright ©2010-2012 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
Montague, Prince Edward Island-based Solarvest has announced that it has used its algal-based production platform to express bioactive therapeutic proteins. The proof of ...
The European (FP7) algae project Sustainable PoLymers from Algae Sugars and Hydrocarbons (SPLASH) has been developing a platform technology for the conversion of third ge...
K. S. Rajgopal writes in thehindu.com about a new study that demonstrates how macroalgal biomass from Gelidiella acerosa and Gracilaria dura collected from Adri and Verav...
The U.S. Environmental Protection Agency (EPA) is developing an early warning indicator system using historical and current satellite data to detect algal blooms. EPA res...
Sami Zaatari writes for the Middle East’s Gulf News that Abu Dhabi’s coastal sabkhas – the Arabic phonetic translation for salt flats – hold great potential for solar pow...
Algae.Tec has announced a collaboration agreement for the commercialization of its algae production technology with Larimar Energy SRL, of the Dominican Republic. The ene...
Tubular glass photobioreactor (PBR) systems protect algae from harmful environmental factors, keeping strains safer from bio-contamination. The glass tubing itself can be...
There are around 4500 dairy farms in Victoria, Australia, according to Business Victoria. Together they produced about 86 per cent of Australia’s dairy product exports, w...
The fully automated plant at the Fraunhofer Center for Chemical-Biotechnological Processes CBP in Leuna, Germany, was designed to produce microalgae at industrial scale. ...
Using microalgae to capture CO2 is a complex process, especially in flue gas environments, reports an editorial by IEA Clean Coal Centre in worldcoal.com. There are many ...
EnAlgae researchers have published an economic model to help to explore the economics of cultivating macroalgae at sea. The model and report can be found here as outputs ...
Earthrise Nutritionals, a wholly owned subsidiary of Tokyo, Japan’s DIC Corporation, is on schedule to complete construction in August, 2015, of a new extraction plant fo...
OriginClear Inc. and partner AlgEternal have announced that, based on AlgEternal’s field tests, they believe their pure algae concentrate, harvested with OriginClear tech...
In Japan, the Algae Biomass Energy System Development Research Center, headed by Professor Makoto Watanabe, was established at the University of Tsukuba on July 1. The ne...
Algiran, an Iranian algal biotech company, has recently established a pilot scale algal cultivation demonstration facility at the Chabahar Free Zone, in the Baluchistan P...