Algaetech International to develop RM27m astaxanthin facility

KUALA LUMPUR, Aug 21 — Algaetech International Sdn Bhd is developing a RM27 million astaxanthin facility for Haematococcus pluvialis cultivation at Technology Park Malaysia (TPM), the first of its kind in Asean, aimed at penetrating the US and New Zealand market…

Haematococcus pluvialis is the microalgea which produces the super anti-oxidant known as astaxanthin.

Algaetech Chief Executive Officer Syed Isa Syed Alwi said the facility was expected for completion by year-end, while the first production would be delivered in the first quarter 2015.

“Upon completion of the facility, Algaetech will be able to produce 3.5 tonnes of biomass per month, making it one of the largest producers of Haematococcus pluvialis biomass in the region.

“We also plan to build a similar facility, at ?a total investment of RM27 million, in Brunei,” he told reporters after the launch of the project here, today.

He said the facility in Brunei was expected to kick off in early 2015, ?and this would double up production to 7.0 tonnes when completed at end-2015.

The facility at TPM is constructed on a 2.07-hectare land sub-leased from Technology Park Malaysia Corp Sdn Bhd. It will have a 100,000 sq ft floor area and its bio-processing and laboratary areas will be equipped with the latest high-tech machineries.

Research by global experts have proven that the carotenoid astaxanthin is 6,000 times stronger than Vitamin C and is also known to reduce the risk of cancer, increase endurance and muscle recovery, and even contains anti-ageing abilities.

In the longer run, Syed Isa also plans to list the company on the Singapore Exchange by early 2015, to further expand the business worldwide.

Also present at the launch was Malaysia Debt Ventures Bhd’s (MDV) Managing Director and Chief Executive Officer Datuk Md. Zubir Ansori Yahaya.

As the project financier, Md Zubir said MDV has always been a supporter of technology breakthrough, welcoming efforts by tech companies from various technology sectors.

“Being a financier to this microalgae project, MDV sees the potential and demand from the market, and highly believes that it will be successful and contribute to the country’s economic growth,” he added. — Bernama

 

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