Frutarom Invests $2.6M In Israeli Algae Producer

January 6, 2016 | Israeli food flavoring company Frutarom is investing $2.6 million in algae harvesting company Algalo Industries and will receive a 50% stake in the company. The investment will be used to build a biotechnology facility using Algalo’s method of cultivation and processing of a wide variety of algae that yield active ingredients for dietary and clinical nutrition supplements, as well as cosmetics. Frutarom CEO and president Ori Yehudai said that the investment in Algalo is “an additional growth engine for expanding Frutarom’s diverse product portfolio in the growing field of natural specialty ingredients. We will work towards leveraging the cross-selling opportunities arising from this investment by expanding Frutarom’s product portfolio and technological abilities and by presenting Algalo’s innovative products to our thousands of customers worldwide.”