Algatechnologies Expanding Production Capacity

Algatechnologies Expanding Production Capacity

ELIOT CORRIDOR, IsraelAlgatechnologiesannounced plans to expand its production capacity for astaxanthin, following thecompany signing several long-term supply agreements. During the first phase of expansion, the company will increasecapacity to reach a total production of 1.4 megatons of astaxanthin, with asecond expansion phase to ramp up to almost 3 megatons.

This expansion is the first step in implementing ourstrategy to maintain our leading position in the market for high-value naturalastaxanthin, said Ed Hofland, chairman of Algatechnologies(http://algatech.com).The company produces astaxanthin from Haematococcuspluvialis microalgae in a closed, environmentallyprotected plant located in the Arava desert; Algatechnologies uses an exclusiveproprietary, patented cultivation process to produce its astaxanthin.