Local nutritional supplement firm Cellana Inc. is teaming up with PIVEG Inc., a San Diego-based ingredient company, to develop Omega-3 oils and other high-value products made from algae biomass.
Financial terms were not disclosed.
Cellana makes industrial-scale amounts of a product called ReNew Algae, a high-value algae biomass. The product has many uses, and contains Omega-3 nutritional oils, proteins, fuel-grade oils, cosmetic-grade oils and other micronutrients.
PIVEG is a global manufacturer of high-value pigments and other products from natural sources. They sell their products to the nutraceutical, pharmaceutical, agricultural, food and beverage, and cosmetics industries.
Cellana will supply PIVEG with ReNew Algae, and PIVEG will process it at its facility in Central Mexico.
"Cellana is a leader in growing diverse algae outdoors using sunlight, and our ability to process Cellana's algae biomass using our existing equipment and facilities allows us to expand our current portfolio and rapidly introduce additional algae-based products," said Roberto Espinoza, PIVEG's chief executive officer, in a statement. "We have spent several years exploring the idea of an expansion and additional algae biomass sources and are pleased to partner with Cellana in this endeavor."