Nano Algae Solutions AG, a Swiss Holding company, will install a large-scale production plant in Greece for the cultivation and commercial production of microalgae, with initial investment of €7.4 million by 2024 for the production of 60 tons dry powder yearly, and additional €10 million after 2024 to expand its production capacity.
Nano Algae Solutions has already invested over €1 million in the development of a novel, robust and efficient biorefinery technology that enables the production of deodorized high purity EPA (Eicosapentaenoic Acid) oil and zero-fat high quality protein. The company targets the food & beverage, health supplementation, feed, pharmaceutical and cosmetics markets in Europe and Asia.
With this investment the company foresees to create 64 new direct and at least 83 indirect job opportunities by 2024.
Microalgae is the first natural food. To close the gap of undernourishment, the world needs to produce 50% more food and 70% more protein to feed 9 billion people by 2050 (UN/FAO). As citizens are becoming more conscious of health and wellbeing, Europe is shifting toward sustainably-sourced biomass feedstock for a cleaner, greener and healthier world. At the same time, high-growth industries demand high-performance functional ingredients and additives from sustainable sources with demonstrated financial, environmental and social benefits.
Greece fulfils the required environmental and climate conditions for the production of the company specific microalgae strain (Nannochloropsis), which needs abundant sunlight and cool water temperature during summertime. The company envisages to make Greece a European hub for microalgae and microalgae-derived products.