By Linda Kor –
Algae Biosciences is nearing completion of the $5.75 million construction and retrofitting of its production facilities at Adamana. The arrival and installation of the first 200 proprietary bioreactors is expected to occur in mid-March, with final installation and operation of all 1,500-plus bioreactors anticipated around the end of April. Company officials expect that the majority of the peripheral processing equipment will be installed in the plant by late March.
Once the expansion is complete, Algae Biosciences, also known as AlgaeBio, is expected to reach full commercial production of omega-3 fatty acid oils during the second quarter of 2012.
In the past 10 months the company has made great strides toward recognition in the nutraceutical and food ingredient markets, according to AlgaeBio officials. The firm has a long-term sale/purchase agreement with a nutraceutical manufacturer/distributor for all of the omega-3 related neutraceutical and food ingredient products it can generate. In addition, AlgaeBio has reportedly been approached by a number of major multi-national corporations that have expressed interest in exploring strategic partnerships and joint-venture relationships.
With the completion of this latest expansion stage, AlgaeBio officials will soon commence a new capital raising program to finance the completion of the second phase of plant and productivity expansion. This phase will result in the construction and equipping of an outdoor covered production pond, or raceway, the first of six to be built. Each raceway will boost the total plant production output and reduce the per-kilogram cost of production.