Boom in astaxanthin boosts carotenoid market

Boom in astaxanthin boosts carotenoid market

The market for carotenoids has changed dramatically for some product segments in the past four years. Prices have dropped for a number of products while market value has risen for others. In particular, the global market for astaxanthin should see big growth courtesy of a sizeable market and…

Cyanotech net sales up 20% for FY 2015

Cyanotech net sales up 20% for FY 2015

Kona, Hawaii-based Cyanotech Corporation, a leader in microalgae-based, high-value nutrition and health products, has announced that, for fiscal year 2015 compared to fiscal 2014, net sales were $33,809,000 compared to $28,178,000, an increase of 20%. Gross profit was $14,466,000…

DOE awards $18 million for algal bioproducts and biofuels

DOE awards $18 million for algal bioproducts and biofuels

The U.S. Energy Department has announced six projects that will receive up to $18 million in funding to reduce the modeled price of algae-based biofuels to less than $5 per gasoline gallon equivalent (gge) by 2019. This funding supports the development of a bioeconomy that can help create green jobs…

Euglena thrives in health food market

Euglena thrives in health food market

Tom Redmond and Yuko Takeo report for Bloomberg.com that, after 10 years of developing algae as a nutritional supplement generating $37.8 million in annual revenue, Japanese algae company Euglena has teamed up with corporate giants including All Nippon Airways and a unit of…

Economic modeling for macroalgae cultivation

Economic modeling for macroalgae cultivation

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 WP2A7.06 and WP2A7.11. Both documents together are a study into the business economics behind growing seaweed at sea…

JAT raising capital for algae powder operations

JAT raising capital for algae powder operations

JAT Industries LLC has announced that it is raising capital under a Regulation D 506(c) offering for the development of the company’s facilities and to fund business operations. Headquartered in Denver, Colorado, JAT Industries is a manufacturer of algae-based proteins with initiatives…

Reliance increases stake in Algae.Tec

Reliance increases stake in Algae.Tec

Algae.Tec Limited has announced the exercise of $500,000 of options by Reliance Industrial Investments and Holdings Limited (Reliance) at an exercise price of $0.07 cents. The options were issued under a second subscription agreement dated 18 December 2014, which provided for an additional investment of $2.4m…

Joule scores $40 million for growth plan

Joule scores $40 million for growth plan

Joule Unlimited, an early stage developer of liquid fuels from sun, engineered cyanobacteria, and recycled CO2, announced closing $40 million in private equity and venture debt financing to support the company’s growth towards commercialization. The round was led by existing investors…

Solazyme reports Q1 2015 results

Solazyme reports Q1 2015 results

Solazyme has announced results for the first quarter ended March 31, 2015. “We are executing against our operating plan for 2015 and are pleased with the progress we are seeing across the company and in our manufacturing and commercialization efforts specifically,” said Jonathan Wolfson, CEO of Solazyme…

New report explores agar market

New report explores agar market

A new report by Future Market Insights explores the agar market – with a global industry analysis and opportunity assessment 2015-2025. Agar is a gelatinous substance that is usually extracted from algae. It is derived from polysaccharide agarose, which is a crucial supporting structure in the cell walls…

USDA taps $8.7M for bioenergy development

USDA taps $8.7M for bioenergy development

The United States Department of Agriculture (USDA) has announced the availability of up to $8.7 million in funding for bioenergy research and education efforts. They’ve also published the final rule for a program that provides incentives for farmers and forest landowners interested in growing and harvesting…

Solazyme reports 2014 results

Solazyme reports 2014 results

Solazyme has announced that total revenue for the fourth quarter of 2014 was $14.5 million, compared with $11.3 million in the fourth quarter of 2013, an increase of 29%. Fourth quarter GAAP net loss was $44.9 million, compared to a net loss of $33.3 million in the prior year period. On a non-GAAP basis…

Astaxanthin powers Cyanotech’s 3Q up 19%

Astaxanthin powers Cyanotech’s 3Q up 19%

Kailua Kona, Hawaii-based Cyanotech has announced financial results for the third quarter and first nine months of fiscal year 2015, ended December 31, 2014. For the third quarter of fiscal 2015 compared to the third quarter of fiscal 2014, net sales were $8,842,000 compared to $7,438,000, an increase of 19%…

Algae.Tec expanding into Greater China region

Algae.Tec expanding into Greater China region

Perth, Australia-based Algae.Tec Limited has announced it has executed an agreement with China Finance Strategies Investment Holdings Ltd. (CFS) under which Algae.Tec will issue an initial US$0.5m convertible bond and, subject to the achievement of certain milestones, will issue US$5m conditional options…

Solazyme tightens up use of cash

Solazyme tightens up use of cash

Kevin Quon writes in Seeking Alpha about the financial plights and pivots of Solazyme, the algae industry’s most high profile recent IPO. In a year that started with a share price above $11 and ended around $2.70 for the same share, Solazyme now trades with a market capitalization of just over $200 million…

Algae.Tec re-ups with Reliance

Algae.Tec re-ups with Reliance

Algae.Tec Limited, an Australian renewable algae company, has announced a further subscription agreement with Reliance Industrial Investments and Holdings Limited (RIIHL), its largest partner, to raise $AUD2.4m. Under terms of the agreement Algae.Tec will raise $AUD1.4m via the issue of…

Algae firm joins top TSE companies

Algae firm joins top TSE companies

Phys.org reports that a Tokyo-based algae company is now being listed on the first section of the Tokyo Stock Exchange (TSE), joining big corporate names such as Toyota and Sony, two years after its debut on the Mothers small cap start-up market. Euglena Co. Ltd., named after the euglena microalgae known in Japanese…

Cyanotech reports financial results

Cyanotech reports financial results

Kona, Hawaii-based microalgae nutrition company Cyanotech has announced financial results for the second quarter and first six months of fiscal year 2015, ended September 30, 2014. For the second quarter of fiscal 2015 compared to the second quarter of fiscal 2014, net sales were $8,684,000 compared to $7,299,000…

Algae Dynamics filing for stock sale

Algae Dynamics filing for stock sale

Mississauga, ON-based Algae Dynamics Corp., formerly known as Converted Carbon Technologies, Inc., a company developing methods for the production of low-cost ultra-pure algae oil and biomass with high nutrient content for the functional food/beverage…

Macroalgae-based products booming in Chile

Macroalgae-based products booming in Chile

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 to the Fisheries Development Institute…

Algae Systems eyes profitable operations

Algae Systems eyes profitable operations

Matthew L. Wald reports in the New York Times that a Nevada company, Algae Systems, has a pilot plant in Alabama that, it says, can turn a profit making diesel fuel from algae by simultaneously performing…

With economy in crisis, Spanish entrepreneurs farm seaweed

With economy in crisis, Spanish entrepreneurs farm seaweed

Channelnewsasia.com reports on three young Spaniards who harvest seaweed, a culinary delicacy, as a way for them to stay out of Spain’s troubled financial waters. 35-year-old marine scientist Alberto…

Reliance converts Algae.Tec options

Reliance converts Algae.Tec options

Perth, Western Australia-based Algae.Tec Limited has announced that the Reliance Group has converted the first tranche of options following the positive progress achieved on the joint algae plant project with Algae.Tec Ltd. 1,833,740 options have been converted…

Cyanotech improving Astaxanthin production

Cyanotech improving Astaxanthin production

Algae manufacturer Cyanotech Corporation has announced implementing three major initiatives to improve Astaxanthin production at their Kailua Kona, Hawaii-based cultivation facility. The first is a strain…

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