JEDDAH, JEDDAH, SAUDI ARABIA, January 11, 2023 /EINPresswire.com/ — AlgiSys BioSciences, Inc. is one of only 11 companies selected from a large global pool of companies, to participate in the KAUST Destination Deep Tech Program. Working at KAUST with some of the worldâ€™s leading Algae experts, AlgiSys will continue to develop groundbreaking applications for its world-leading algae technology. With KAUST sponsorship, AlgiSys will be showcasing its technology at the LEAP Venture Capital conference in early February.
Dr. Charles Roe, Founder and Chief Technology Officer AlgiSys, will be based at KAUST in Saudi Arabia over the next 3 months. In speaking about this opportunity, Dr. Roe noted: â€œWeâ€™re excited to be a part of the KAUST and benefit from the amazing resources KAUST has to offer. Our plan for the Kingdom is to build a manufacturing plant in line with the food security goals of the Kingdomâ€™s Vision 2030. Being at KAUST will enable us to build strong local partnerships.â€�
AlgiSysâ€™ plans on building a $75 Million fermentation production facility in Saudi Arabia to produce not only its EPA Omega-3, plant protein but also a superior strain of DHA Omega-3. The plant will create local employment and target exports for the Middle East and Europe. Initially, AlgiSys will target the aquaculture and feed markets, followed by entry into other vertical markets including pharmaceuticals, human nutrition, and cosmetics.
King Abdullah University of Science and Technology (KAUST) Destination Deep Tech
3-month program provides deep tech startups with everything needed to explore technology and business opportunities in Saudi Arabia. Through digital and in-person sessions at KAUST, companies can explore the Saudi market and startup ecosystem, connect to world-renowned researchers, and leverage KAUSTâ€™s unique infrastructure and technology expertise.
About AlgiSys BioSciences, Inc. – AlgiSys is a disruptive BioFoodTech company with patented microalgae-based omega-3 and protein solutions for multiple high-growth markets. AlgiSys uses commercial fermentation technology to sustainably produce non-GMO, halal, EPA Omega-3s, plant protein, and DHA. AlgiSysâ€™ all-natural products are a traceable and are a complete technology solution that replaces fish oil and fishmeal as a source for human nutrition, pet and animal health, aquaculture, cosmetics, and pharmaceuticals. www.algisys.com.
AlgiSys is advised by Merchant Edge, an international capital advisory firm with experience in the Middle East. Merchant-Edge provides corporate and public advisory services in debt, equity, refinancing, buy and sell-side M&A, alternative investments, and merchant banking. https://www.merchant-edge.com
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Roger Frank, EVP Roger.Frank@algisys.com
Jonathan Strum, Managing Director Jonathan.firstname.lastname@example.org
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