Algatechnologies ‘aggressively’ exploring other microalgae, says chairman

25-Oct-2016 - Last updated on 28-Sep-2021 at 09:47 GMT

Algatechnologies is widely known for its astaxanthin ingredient. Is it time to expand to new products?

For the next five years, Algatechnologies is aiming to launch a new ingredient once every year, chairman Ed Hofland told NutraIngredients-USA at the SupplySide West 2016 show in Las Vegas.

“I can tell you that in the next two or three months we’re coming up with a new microalga with a new active ingredient on the market,” he said.

To accomplish these goals, Hofland said that there have been some changes in the company’s leadership. “We brought on another two or three PhDs in biology for R&D, and we brought back the old CEO Mr. Hagai Stadler,” he added.

Fame from AstaPure

The company has long been known for its branded astaxanthin product AstaPure, which is produced in a closed bioreactor in the Israeli desert. “It’s quite economical, because the sun is providing a lot of the energy—we use photovoltaic as an energy source so it’s a very green energy source,” Hofland said.

Astaxanthin for nutraceutical purposes kicked off in Japan, before it moved on to the US and eventually spread globally.Algatechnologies’ biggest markets are the US and Asia Pacific, but according to Hofland, there’s a lot of growth in Europe.

“We’re quite excited about the possibilities we’re having right now,” he added.