Provectus Algae, an Australian biotechnology company specializing in the manufacturing of high-value compounds for a wide array of industries using microalgae, has announced they will be expanding into an additional large-scale facility.
Located in Noosaville, Australia, the new site is expected to be operational by the end of 2021 and will complement the company’s existing facility to deliver new algae-made products to the market. Once completed, the facility will support the production of a high-performance food coloring, with a 200,000-liter production capacity and expanded R&D operations, product development, and partnerships for the Food & Beverage sector.
Provectus’s inaugural pilot facility will subsequently be converted for commercial production of a separate high-value product that is currently undergoing product testing. The company is further expanding with plans for a one-million liter facility to commercialize multiple products in the company’s development pipeline.
“This is just the tip of the iceberg for Provectus Algae,” said Nusqe Spanton, Founder and CEO of Provectus Algae. “The stage of development where we are now with our production platform gives us a clear line of sight to deliver some really exciting products to the food and beverage marketplace.”
The company addresses supply chain challenges by providing end-to-end services bringing a product from bench to industrial scale seamlessly using their novel production technology, according to a company spokesperson.
“Since closing our seed round last year, we have been in full swing growing the team, developing products and building capacity with our proprietary production system. We are now in a strong position as we push into this next phase of the company’s growth,” Mr. Spanton added.
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