AlgaeCytes Limited’s plans to build its first commercial production plant in Dessau, Germany was featured in Mitteldeutsche Zeitung on October 20, 2021. Plant construction is expected to commence in 2024 and operations in late 2024.
AlgaeCytes Germany GmbH’s Managing Director, Andrew J. Cosentino, said that “the plant site choice was driven by the cooperation and support of the governments of the State of Sachsen-Anhalt, Germany and the City of Dessau-Rosslau, Germany, the intellectual resources in Algae Biotechnology offered by the Anhalt University of Applied Sciences, the available site and the location of Dessau-Rosslau relative to EU markets.”
AlgaeCytes will use its patented and proprietary technology to grow natural, freshwater algae in the controlled and protected environment of an enclosed photobioreactor system. Sustainable, traceable, plant-based, non-GMO algae-derived products will include Omega-3 EPA oils and other premium products primarily for the nutraceutical, personal care and pharmaceutical markets.
Deepbridge Capital LLP has been the principal financial backer and advisor to AlgaeCytes since 2013. AlgaeCytes has also been supported by the Kent County Council in England.
AlgaeCytes Limited operates a pilot plant facility and laboratory in Discovery Park, Kent, England. GOLDBECK Nordost GmbH, in Germany, and Fichtner Consulting Engineers Ltd., in England, are construction and design consultants, respectively for the project. Zybra Ventures UG are AlgaeCytes’ financial advisors for the Dessau project.
Further coverage on our most recent announcement can be found here.