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Algae.Tec launches innovative algae-based products

Algae.Tec Ltd (ASX:AEB) has launched its Alganics range of products at the Supply Side West 2016 show in Las Vegas, considered the world’s leading nutraceutical ingredient and solutions tradeshow.
Algae.Tec launches innovative algae-based products
Algae.Tec Ltd launches innovative algae-based products

Algae.Tec is a specialist algae producer, which has developed a technology that captures waste carbon dioxide to produce commercial quantities of algae for use in the food and fuel sectors.

The launch of the Alganics range of products was in conjunction with the company’s major customer, Gencor Pacific, a health supplements and nutraceutical company.

In May, Algae.Tec signed an agreement to give Gencor the exclusive rights to buy all of the algae oil and powders produced by the Algae.Tec plant in Georgia, U.S. for nutraceutical applications.

The launch at the tradeshow coincided with the first delivery of product from Algae.Tec’s upgraded plant to Gencor.

The current global market for algae-based nutraceutical products is substantial, exceeding 21,000 metric tonnes, representing a $1.3 billion per year market.

Earl McConchie, founding director, commented: “the show has been extremely valuable. Introduced by Gencor, we have met the world’s leading nutraceutical companies.”

“The interest in our products is very high and the demand for high EPA/DHA product underpins Algae.Tec’s plans for increased production capacity.”

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