Expansion into the Microalgae Space
11 Jul 2013 | GrovePoint/Algatechnologies
In February 2013, Grovepoint, a private investment company, acquired a majority stake in US$50 million valued Algatechnologies Ltd., a leading manufacturer of natural astaxanthin (AstaPure). “Algatech is a company with a very interesting technology. We felt that we could bring this to the world with the added value niche product of astaxanthin. The fact that this company could succeed in producing this product in the worst conditions in the world, in the middle of the desert, gives us a lot of confidence in the strength of this technology and the people behind it,” says Hugai Stadler, CEO of Grovepoint.
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