Algalif Iceland Announces $30 Million Expansion

seagriculture.eu
Algalif CEO Orri Björnsson

Algalif CEO Orri Björnsson says that their new state of the art Iceland factory will establish Algalif as a worldwide industry leader in astaxanthin production.

Algalif Iceland has announced a $30 million expansion plan for its sustainable astaxanthin production facilities in Iceland. “This is one of the biggest foreign investment projects in Iceland for a while,” says Orri Björnsson, Algalif CEO.

Construction will begin early next year. Production will more than triple, from over 1.500 kg to 5.000 kg of astaxanthin annually. The company claims they will thereby become the biggest astaxanthin producer in the world.

Since its foundation in 2012, Algalif has gained a status as an industry leader in the production of high quality sustainable natural astaxanthin from microalgae. “This is due to superb production quality and delivery security, along with extensive industry knowledge of the management team and competitive cost structure,” said Mr. Björnsson. “This has resulted in 2020 being the best year in the company’s history. All our production this year, and most of next year’s astaxanthin production is sold.”

The company’s dedication for all around sustainability has led to Algalif being renowned for exceptionally clean, high quality astaxanthin. With its location in Iceland Algalif has access to an abundance of clean natural water and all operations are powered by 100% green geothermal energy.

Algalif’s current 35 employees operate in a 5500 m2 facility producing around 30 tons of biomass annually. The expansion will increase staffing to 70 and the facility to 12,500 m2. Production is expected to increase to 100 tons of biomass annually. During the construction period, more than 100 new local jobs will be created.

All rights reserved. Permission required to reprint articles in their entirety. Must include copyright statement and live hyperlinks. Contact david@algaeplanet.com. Algae Planet accepts unsolicited manuscripts for consideration, and takes no responsibility for the validity of claims made in submitted editorial.

seagricultureusa 2023 Portland ME

Subscribe

Breaking-News

  • March 28, 2023: South Korean biotechnology startup Seawith recently signed a new partnership to assess and explore Seawith’s proprietary, cutting-edge microalgae technologies in commercially cultivated meat projects. Read More…
  • March 23, 2023: Provectus Algae has announced that Steven F. Schnittger has joined the company as a cosmetics industry advisor. Mr. Schnittger is the former Vice-President of Global Fermentation and Microbiology R&D at The Estée Lauder Companies Inc. and served over 37 years there. Read More…
  • March 21, 2023: Testa Omega-3 has launched its Vrill Omega™ supplement, an innovative plant-based and vegan alternative to krill oil. It represents a new class of highly bioavailable omega-3 supplements offering both essential polyunsaturated fatty acids (DHA and EPA), as well as the potent antioxidant astaxanthin, in a formulation that is rich in easily-absorbed polar lipids – phospholipids and glycolipids — derived from microalgae and plants. Read More…
Seaweed Industry Job Board

A Beginner’s Guide