Marine biotech company appoints co-founder as CEO
Algaia, SA, has appointed Frederic Faure, one of the co-founders of the company, as its new Chief Executive Officer for the entire group as of 1 June 2020.
Algaia has said the company is committed to dramatically advance its co-extraction strategy of fresh seaweeds in house and optimise the use of raw materials to reduce its environmental impact. The traditional manufacturing process for seaweed extracts utilises only a relatively small portion of the biomass while generating significant solid and liquid waste. Depending on the technologies and the types of extracted compounds, only 15% to 35% of the raw material is actually used. Algaia has set a goal of using its multiple-extraction process to valuize 80 to 90% of the fresh seaweed biomass that it harvests by 2025.
Traditional methods of seaweed compound extraction do not allow for the isolation of some of the more sensitive compounds due to heat treatment and certain ion-exchange reactions. Some of the components also require fresh seaweeds due to their sensitivity to drying conditions as well as degradation from UV exposure. These are just some of the technical challenges producers encounter at extraction facilities that rely on dry imported seaweeds.
“Our know-how in extraction, marine biotechnologies, and our innovative
Faure’s two decades of professional experience in specialty food ingredients has been connected to both land and marine plants. Before helping to found Algaia in 2016, Faure worked in both France and China in managerial positions and portfolio development for global companies such as Cargill, Evonik, and Lucas-Meyer. Faure replaces Fabrice Bohin, who remains a shareholder and member of the Board of Directors, while becoming the new president of Diana Naturals SAS within Symrise Nutrition.