Visit  cricatalyst.com!Nexus — Leaders in Greenhouse Systems Integration Check out more of The Buzz

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
By sending algae into space, a U.S. Department of Agriculture (USDA) scientist and his team will be able to study some of the key mechanisms that control plant growth and...
A University of New South Wales (UNSW)-led team of researchers has discovered how algae that survive in very low levels of light are able to switch on and off a weird qua...
Gilbert, AZ-based Heliae has announced a partnership with Sincere Corporation, a Japanese waste management and recycling company, to form a joint venture and develop a co...
Steven Mufson reports for the Washington Post that Algenol Biofuels estimates hackers have attempted to break into its computers 39 million times in four months this year...
A recent discovery in the multicellular green alga, Volvox carteri,has revealed the origin of male and female sexes, showing how they evolved from a more primitive mating...
Biofuels derived from the oils produced by algae may offer a low-cost sustainable alternative to fossil fuels. To achieve this goal, optimization of cost effective strate...
In an effort to propel the algae industry forward, the Algae Testbed Public Private Partnership (ATP3) offers a series of hands-on specialized workshops suited for partic...
Following a request from the European Commission, the European Food Safety Authority (EFSA) Panel on Dietetic Products, Nutrition and Allergies (NDA) was recently asked t...
Matthew Carr was recently named executive director of the Algae Biomass Organization (ABO), the leading trade association for the algae industry. His presence will soon b...
Bookending the upcoming Algae Biomass Summit, Sept. 29-Oct.2 in San Diego, will be industry tours to give attendees a first-hand look at the latest progress in technical ...
Expanding from its initial work in algal biofuels, General Atomic’s (GA’s) Advanced Biological Processes team has focused on the rising need for food globally, specifical...
Portuguese cement facility, Secil, and microalgae biotechnology company, A4F, also based in Portugal, have formed AlgaFarm, a joint venture to develop the use of cement f...
SCHOTT AG, of Mitterteich, Germany, and Algatechnologies Ltd. (Algatech), based at Israel’s Kibbutz Ketura, have signed an R&D agreement to strengthen their partnersh...
Biplab Das reports in NatureAsia.com that a research team has found aqueous extracts of the marine brown algae Lobophoro variegate that can inhibit the replication of hum...
Analia Murias 
reports for fis.com that Chilean exports of products made from macroalgae generated a total of $195 million US in the first seven months of 2014, according...
James “Jamie” Levine took over the reigns at Sapphire Energy in July of this year as former President and CEO Cynthia “CJ” Warner stepped down, retaining her role as chai...
A team of Michigan State University algae researchers have discovered a cellular "snooze button" that has the potential to improve biofuel production and offer ...
Solazyme, Inc. and Versalis, the chemical subsidiary of Eni S.p.A., one of the world’s largest oil and gas companies, today announced a partnership to expand the commerci...