Libourne may 11, 2017 Fermentalg, the French leader in microalgae, presents its financial information in respect of the 1st quarter of 2017.
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Commercial launch of DHA350
As announced, the year 2017 is marked by the commercial launch of the DHA350, the oil rich in omega-3, developed by Fermentalg at the destination of the industrial agri-food and health. This commercial launch has seen its climax on the occasion of VITAFOODS EUROPE 2017, the great european event of the sector of ingredients and food supplements, which took place in Geneva from 9 to 11 may.
In this perspective, the 1st quarter of 2017 has been devoted to the establishment of a commercial team and the production of samples at the destination for distributors and potential customers.
Finalization of the development of the DHA550
At the same time, Fermentalg continues to work as a préindustrialisation of its second product, the DHA550, oil drains with a high concentration of DHA and low in saturated fatty acids. This product, a true ” first in class “, will offer the industry new opportunities and position Fermentalg as one of the leading highlights of this market.
In parallel, Fermentalg continues to invest in its technology platform, algae, beyond the oils, to markets in full expansion of the natural pigments (phycocyanin) and protein concentration (Protéalg®).
Tests of the carbon Sinks developed with SUEZ
Finally, early this year has led to record new advances for the carbon Sinks, as a result of cooperation with the SUEZ Group around the technology developed by Fermentalg capturing of CO2 with microalgae.
A first test has been initiated, in January 2017, to measure the capacity of uptake of the fumes of incineration on an industrial site and a second must give rise, in the near future, the installation of a new unit in the heart of town.
Enrichment of the portfolio of patents
In order to protect its innovations, Fermentalg continues its active policy of consolidation of its intellectual property and has filed a new patent application during the 1st quarter of 2017. At the end of march, the company is rich of 21 patent families filed.
Strengthening of the Management team
In order to provide the best support its transformation from a start-up biotech to industrial and commercial society, Fermentalg has expanded its Executive Committee since the beginning of the year, in particular with the arrival of new Directors with financial, industrial and commercial.
To march 31, 2017, Fermentalg has 56 employees.
12.7 M of cash at the end of march 2017
On the 1st quarter of 2017, Fermentalg has not recorded any financial contributions of its partners (0,67 M in the 1st quarter of 2016).
To march 31, 2017, Fermentalg had a gross cash position of $ 12.7 M 15.7 M at the end of 2016. The consumption of cash registers a slowdown compared to the last quarter of 2016 (3.0 M (4.4 M), which should be confirmed on the rest of the year.
About Fermentalg :
Based in Libourne (Gironde), Fermentalg is a biotechnology company industrial, a global leader in microalgae. Its main markets are food, feed and animal and health. The action Fermentalg is listed on the Euronext in Paris (FR0011271600 – FALG). More information : www.fermentalg.com.
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