Phyco2 Refocuses Algae R&D on Agriculture, Nutrition
by Jim Lane (Biofuels Digest) In California, Phyco2 said that is shifting its focus to meet the growing market demand for algae production.
Six primary high-value markets with strong growth both in the United States and globally have been identified as bio-stimulants, bio-pesticides, animal feed, nutraceuticals, cosmetics, and pharmaceuticals. The global market for algae is growing at an estimated Compound Annual Growth Rate of 7% a year, with a $1.1 billion in sales by 2022. The company is currently investing in production plants in Clinton, Iowa with an estimated initial production of 1000 metric tons of algae per year.
Phyco2 plans to begin building commercial scale production plants and start operations within the next two years.
The company backstory: Phyco2 has a high algae productivity rate due to its Algae Photobioreactor (APB) technologies that allow pure microalgae to grow indoors, 24 hours a day, at any time of the year, with minimal water consumption, and in any geographic location. READ MORE