Fermentalg prepares second omega 3 product launch on back of 2017 investments
07 Mar 2018 --- Fermentalg is to launch a new product, DHA Origins, as CEO Philippe Lavielle promises a “new chapter for 2018.” The product, which will be unveiled at VitaFoods Europe in May, follows Fermentalg’s first successful product launch of a DHA-rich algal oil in 2017. “Successful fund-raising” and investments in 2017 have paved the way for the new product, and the new year, Lavielle says. The news comes as the French microalgae supplier releases its annual finances, revealing annual cash assets at the end of 2017 of €21.8 million
The new product, DHA Origins, may benefit from the success of its predecessor. 2017 saw Fermentalg’s first product launch of a DHA-rich algal oil. This product, within its first few months, produced its first industrial work packages and signed a European distribution agreement with IMCD Group, The IMCD Group is concerned with sales, marketing and distribution of specialty chemical product and nutritional ingredients.
“The signing of an initial distribution agreement with IMCD and marks the beginning of a new chapter for our company,” says Lavielle.
This agreement, combined with other sales contacts made, give Fermentalg’s DHA Origins 550 “the most naturally concentrated algal omega 3 on the market,” the best chance for a successful launch in 2018.
The company also has several more products in development. These include an algal protein in 2019 and an algal colorant in 2020. The release of these products will be supported by DIC Corporation. This agreement between the two companies “enables us to step up the development of innovative products intended for the health and nutrition market,” states Lavielle.
The strategic partnership was also fruitful in the form of a €5 million convertible bond issue subscribed by DIC Corporation. And a €12.6 million capital increase largely subscribed by current shareholders and new investors was illustrative of the company’s successful fund-raising for 2017.
“All of these factors enable us to tackle 2018 with increased confidence in the company's business potential," says Lavielle.
