Fermentalg Sales Plan On Track
14 May 2015 --- Fermentalg, an industrial biotechnology company that specializes in the production of oils and proteins derived from microalgae, has published its financial information for the first quarter of 2015.
In April, the company announced that it had produced over two tons of dry matter biomass to harvest around one ton of DHA-enriched oil which is currently under extraction. Cumulated oil production now stands at well over one ton. This major step will allow for the pre-commercialization of products before Fermentalg's first proprietary industrial unit is even commissioned.
The start of 2015 saw Fermentalg ramp up its industrial and commercial development with:
• the laying of the 1st stone to mark the beginning of work on the construction of its future Industrial Development Unit (IDU);
• the European Novel Food authorization for its first product, DHA-enriched oil (Omega-3) for the human nutrition market;
• the consolidation of its human resources following the addition of various new and experienced profiles to its management team;
• the constant enhancement of its technological base which now includes two new major patents for the industrial exploitation of high-yield microalgae strains: Botryococcus (green chemistry) and Odontella (human nutrition).
The first three months of 2015 also saw Fermentalg allocate its programmed investments for the construction of a new Industrial Development Unit in Libourne. The acquisition of the land and its existing buildings (€3.7 million) will enable the company to operate its own fully integrated site in a single location. Excavation and ground work is underway, and the contracts for structural work signed conform to the company's forecast budget.
Fermentalg had no revenues to report for the first quarter of 2015 (€225,000 for the first quarter of 2014). The company's gross cash position of €34.0 million on 31 March 2015 is fully in line with requirements thanks to the careful management of operating costs.
