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Evonik invests in biotech start-up Algal Scientific

Algal has developed innovative technology for beta-glucan production from algae

BS B2B Bureau  |  Essen, Germany 

Industries, as a part of an investors’ consortium that is investing more than $ 3 million, is investing in the technology start-up Scientific Corporation (Northville, Michigan, USA). Under the trade name Algamune, markets 1,3-beta-glucan, a that strengthens immune response. It is used as an additive in animal feeds and as a nutritional supplement as well as in pharmaceutical formulations.
 
This is the first time it has been possible to obtain from on an industrial scale. has developed a new technology for this purpose and is currently in the process of starting up the first commercial production plant in Michigan. is usually extracted from grain or produced using yeasts or fungi. Algal’s new biotechnological process needs fewer production steps and at the same time generates significantly higher yields.
 
In addition to the innovative production technology, the use of in a wide variety of animal feed applications is of particular interest to The immune stimulating effect of results in healthier animals and efficient growth, thus contributing to resource-efficient nutrition of the global population. is suitable for nutrition of pigs, poultry, and ruminants as well as for aquaculture.
 
contributes toward sustainable In view of the growing global population and the subsequent increasing demand for animal protein, this is an interesting market with attractive growth potential,” said Dr Bernhard Mohr, Head of Venture Capital.
 
Geoff Horst, CEO of Algal, added, “We are very pleased that is joining us as a strategic partner. We have been able to attract a strong group of investors; this allows us to advance commercial production and our business.”
 
Also part of the consortium, in addition to specialty chemicals group Evonik, are the US venture capital firms Formation 8 (California), Independence Equity (Illinois), and Envy Capital (Michigan), as well as regional funds and business development companies promoting the establishment and development of attractive companies in Michigan.
 
Within its venture capital activities plans to invest a total of Euro 100 million in highly promising start-ups with break-through technologies and leading specialist venture capital funds. These investments will focus on Europe, the US and Asia. Partnering with innovative start-up companies supplements Evonik’s approach of open innovation and creates excellent opportunities for accelerating the development of new businesses and opening up future growth fields.

First Published: Mon, April 28 2014. 17:24 IST
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Evonik invests in biotech start-up Algal Scientific

Algal has developed innovative technology for beta-glucan production from algae

Algal has developed innovative technology for beta-glucan production from algae Industries, as a part of an investors’ consortium that is investing more than $ 3 million, is investing in the technology start-up Scientific Corporation (Northville, Michigan, USA). Under the trade name Algamune, markets 1,3-beta-glucan, a that strengthens immune response. It is used as an additive in animal feeds and as a nutritional supplement as well as in pharmaceutical formulations.
 
This is the first time it has been possible to obtain from on an industrial scale. has developed a new technology for this purpose and is currently in the process of starting up the first commercial production plant in Michigan. is usually extracted from grain or produced using yeasts or fungi. Algal’s new biotechnological process needs fewer production steps and at the same time generates significantly higher yields.
 
In addition to the innovative production technology, the use of in a wide variety of animal feed applications is of particular interest to The immune stimulating effect of results in healthier animals and efficient growth, thus contributing to resource-efficient nutrition of the global population. is suitable for nutrition of pigs, poultry, and ruminants as well as for aquaculture.
 
contributes toward sustainable In view of the growing global population and the subsequent increasing demand for animal protein, this is an interesting market with attractive growth potential,” said Dr Bernhard Mohr, Head of Venture Capital.
 
Geoff Horst, CEO of Algal, added, “We are very pleased that is joining us as a strategic partner. We have been able to attract a strong group of investors; this allows us to advance commercial production and our business.”
 
Also part of the consortium, in addition to specialty chemicals group Evonik, are the US venture capital firms Formation 8 (California), Independence Equity (Illinois), and Envy Capital (Michigan), as well as regional funds and business development companies promoting the establishment and development of attractive companies in Michigan.
 
Within its venture capital activities plans to invest a total of Euro 100 million in highly promising start-ups with break-through technologies and leading specialist venture capital funds. These investments will focus on Europe, the US and Asia. Partnering with innovative start-up companies supplements Evonik’s approach of open innovation and creates excellent opportunities for accelerating the development of new businesses and opening up future growth fields.
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Evonik invests in biotech start-up Algal Scientific

Algal has developed innovative technology for beta-glucan production from algae

Industries, as a part of an investors’ consortium that is investing more than $ 3 million, is investing in the technology start-up Scientific Corporation (Northville, Michigan, USA). Under the trade name Algamune, markets 1,3-beta-glucan, a that strengthens immune response. It is used as an additive in animal feeds and as a nutritional supplement as well as in pharmaceutical formulations.
 
This is the first time it has been possible to obtain from on an industrial scale. has developed a new technology for this purpose and is currently in the process of starting up the first commercial production plant in Michigan. is usually extracted from grain or produced using yeasts or fungi. Algal’s new biotechnological process needs fewer production steps and at the same time generates significantly higher yields.
 
In addition to the innovative production technology, the use of in a wide variety of animal feed applications is of particular interest to The immune stimulating effect of results in healthier animals and efficient growth, thus contributing to resource-efficient nutrition of the global population. is suitable for nutrition of pigs, poultry, and ruminants as well as for aquaculture.
 
contributes toward sustainable In view of the growing global population and the subsequent increasing demand for animal protein, this is an interesting market with attractive growth potential,” said Dr Bernhard Mohr, Head of Venture Capital.
 
Geoff Horst, CEO of Algal, added, “We are very pleased that is joining us as a strategic partner. We have been able to attract a strong group of investors; this allows us to advance commercial production and our business.”
 
Also part of the consortium, in addition to specialty chemicals group Evonik, are the US venture capital firms Formation 8 (California), Independence Equity (Illinois), and Envy Capital (Michigan), as well as regional funds and business development companies promoting the establishment and development of attractive companies in Michigan.
 
Within its venture capital activities plans to invest a total of Euro 100 million in highly promising start-ups with break-through technologies and leading specialist venture capital funds. These investments will focus on Europe, the US and Asia. Partnering with innovative start-up companies supplements Evonik’s approach of open innovation and creates excellent opportunities for accelerating the development of new businesses and opening up future growth fields.

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Business Standard
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