AlgaTechnologies To Invest $16M In Production Of Natural Astaxanthin

September 15, 2014 | AlgaTechnologies, an Israeli company engineering special species of micro-algae at Kibbutz Ketura in the Arava, announced that it will invest NIS 60 million ($16 million) in order to double the production of natural astaxanthin. The company’s products are used by the cosmetics industry as biological ingredients in a number of beauty products, as well as in supplemental vitamins. AlgaeTechnologies is controlled by Grovepoint, based in Britain, that bought that company in February 2013. According to the company, the investment will take place over three stages throughout 2014-2015. The natural astaxanthin that AlgaTechnologies produces is one of the world’s strongest antioxidants available, with the company exporting the material to more than 30 countries. AlgaTechnologies was founded in 1998 and its product is called AstaPure.