The investor will also invest in R&D so that new algae-derived products can be brought to market.
Grovepoint Capital, a UK-based private investment company, has acquired a majority stake in Israel-based astaxanthin ingredients firm Algatechnologies Ltd. Algatechnologies specializes in the commercial cultivation of microalgae and is a leading manufacturer of the AstaPure brand of natural astaxanthin.
“Grovepoint believes there is significant potential to grow the range of products where astaxanthin is the key ingredient and to fully exploit the potential of microalgae-derived products for other commercial applications,” says Leon Blitz, Grovepoint’s CEO.
Astaxanthin is said to be a powerful antioxidant whose health benefits include joint and muscle function, skincare health, and heart health. Algatechnologies says the ingredient is already well established in Japanese health food products and is seeing a rise in the United States and Europe.
Blitz says that Grovepoint will also invest in R&D so that new algae-derived products can be brought to market.
Algatechnologies’ AstaPure ingredients are produced in a closed, controlled system with exposure to natural sunlight.