Algae.Tec Ltd Shares Gain on Nutraceutical Supply Agreement for Algae
Algae Tec Ltd.’s shares have surged following an agreement signed with Gencor, a worldwide supplier of health supplements. The supply agreement gives Gencor, the rights to buy all of the algae oil and powders produced by Algae.Tec plant in Georgia, U.S.A. for nutraceutical applications.
Algae.Tec’s plant is designed to initially produce 50 tonnes per year of high value algae for nutraceutical applications. The company has plans to increase the production to 1000 tonnes per year.
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