Perth based health sciences company Algae.Tec will partner with Canadian-based extraction firm Radient Technologies as the company takes the next major step towards producing algae-based nutraceuticals for the fast-growing global market.
In a recent market update, Algae.Tec said the deal with Radient would enable it to use the Edmonton-headquartered company’s extraction technology to boost the yield and consistency of its plant-based nutraceuticals, which are currently in development.
Specifically, the use of Radient’s facilities will allow the extraction of high quality matter from Algae.Tec’s algae powders for use in future high-end nutraceuticals, the company said.
According to Algae.Tec management, the technology has previously proved effective at extracting the active ingredients from plants, including algae, in a cost-efficient manner.
Algae.Tec Managing Director Mal James said: “This is a significant partnership for Algae.Tec as it will enable us to leverage RTI’s superior extraction technology, and it represents one of the final steps in the production of a variety of products for the high-end nutraceuticals market.”
“The global nutraceuticals market provides a compelling opportunity for the business and we look forward to providing our shareholders with the outcomes of this first round of extraction testing this quarter.”
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