AlgaEnergy and Yokogawa sign a strategic agreement to promote the biotechnology sector11 February 2019
The Japanese firm will invest almost 10 million euros in the Spanish company
AlgaEnergy, a Spanish technology company specializing in the sector of microalgae and their applications, and the Yokogawa Electric Corporation, a leading provider of industrial automation, control and measuring technology, have announced the signing of a collaboration agreement involving an investment of almost 10 million euros by the Japanese company.
Microalgae are a group of single-cell photosynthetic microorganisms that can grow in a wide variety of aquatic habitats such as oceans, lakes and rivers. Their rapid rate of reproduction make them a highly valuable biological resource, and their numerous properties give them great potential to contribute to a more sustainable society through their application in several sectors such as agriculture, human and animal nutrition, cosmetics and aquaculture, among others.
AlgaEnergy, a pioneering company in the field of microalgae biotechnology since 2007, runs an industrial production plant for microalgae in southern Spain.
Yokogawa's entry as a shareholder is an opportunity for AlgaEnergy to reinforce its international leadership. Among other purposes, the capital increase will go toward the geographic expansion of its international sales structures in the agricultural business line, and to the development of new products.
Both companies have the aim of becoming a global leader in the microalgae industry, by collaborating and innovating in the areas of R+D+i, production, marketing and sales.