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GlycoMar Ltd. and MicroA AS joint venture

January 19, 2016
AlgaeIndustryMagazine.com

The location of the European Centre for Marine Biotechnology, and GlycoMar’s headquarters in Argyll, Scotland

The location of the European Centre for Marine Biotechnology, and GlycoMar’s headquarters in Argyll, Scotland

Scottish biotechnology company GlycoMar and Norwegian technology company MicroA have announced their joint venture business, Prasinotech Ltd. The new company, registered in Scotland, will implement the manufacture of high value polysaccharide products from microalgae.

Prasinotech is the first company in the world specializing in the production of polysaccharides from microalgae. The products, discovered by GlycoMar and developed through pilot production at MicroA, have applications in healthcare, cosmetics, and nutrition.

Prasinotech will implement industrial scale cultivation and processing of microalgae at facilities in Norway, which utilize MicroA’s unique photobioreactor technology. Prasinotech’s first products are Prasinoguard and PrasinoPS, active ingredients for use in cosmetic skincare. Prasinotech’s products are projected to have an annual value of US$ 2 million in the third year of production.

Prasinotech takes its name from the marine microalga Prasinococcus capsulatus, of which it is the first commercial producer in the world. The polysaccharide product from this species have been patented by GlycoMar for use in healthcare and cosmetic skincare. Production of the polysaccharide is sustainable and completely natural using only light and CO2 to cultivate the microalga in seawater. The polysaccharide is purified by advanced processing techniques developed with grant support from Innovate UK, Innovation Norway, and the Industrial Biotechnology Innovation Centre.

GlycoMar’s founder, Dr. Charlie Bavington, said, “We are delighted that our close collaboration with MicroA has progressed to a joint venture. We are confident that Glycomar and MicroA have developed technology that will make Prasinotech a success.”

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